Everything you need to know about staking KAI.
You can Stake your KAI tokens with a native KardiaChain wallet here https://explorer.kardiachain.io/wallet-login!
Before you Stake make sure to check out the Staking Rewards Asset Profile Page for KardiaChain to help bet a better understanding of this choice.
Get ready to enjoy around a 15% compounded reward rate annually based off current parameters! Make sure to stay up to date with all current KardiaChain network participation and network fees as these factors can change the expected rewards earned.
You will be delegating your KAI to a validator to stake KAI so be sure to make yourself familiar with the impressive list of high profile validators running on KardiaChain here.
What is KAI Staking?
First you must be sure to have native KAI and not the ERC20 version of KAI that was used to bootstrap their network. If you have the ERC20 version of KAI please go to https://swap.kardiachain.io/ and follow the instructions on how to swap your ERC-20 KAI to native KAI.
After you have some KAI you can delegate it in the native KAI wallet to earn staking rewards.
You can claim the rewards whenever you like. Once you have earned 1,000 KAI you can delegate those 1,000 KAI again.
Your undelegated amount will be marked as “Unbonded”. Your current “Rewards” will be withdrawn to your wallet immediately.
After 168 hours (7 days), your “Unbonded” KAI will be marked as “Withdraw-able” and can be claimed to your wallet.
For starters, you need to own some KAI. You can buy these from a supported market such as KuCoin.
Next you should make sure to have a native KardiaChain wallet which can be created here: https://explorer.kardiachain.io/wallet-login.
Lastly you’ll want to make sure you have some knowledge on the options for Validators which you can research on the KardiaChain Staking Rewards Providers page.
How to Stake KAI
First you will want to create a new KardiaChain Wallet by going here https://explorer.kardiachain.io/wallet-login.
Click “Create a new wallet”.
Choose one of the options below to backup your wallet – keep this information private.
For this example we clicked on “Create with Mnemonic Phrase” – copy the 12 words and write them down in a secret location. (this wallet is being used as an example and will not contain any value).
Click “Create Wallet” once you saved the phrase.
Click “Access Now” and select the access point from which you created your wallet – for our example it is Mnemonic Phrase.
Create a new pass code to further encrypt your wallet – make sure it is at least 8 characters long and hit “Create” once done.
Next you will be prompted to enter your backup phrase that you wrote down from Step 3.
Once entered click “Access Now”.
Before it will allow you to enter the next screen you will enter your “pass code”
Now that you have successfully created and logged into your KardiaChain Wallet you can make sure to fund it with some KAI.
Once you have native KAI in the wallet click “Staking” from the top header.
Next step you want to choose a Validator to delegate to – you will want to do some research on the validators here on the Staking Rewards KardiaChain Providers Page.
Once you’ve decided on a Validator click “Delegate” on the right hand side of that Validator.
Here you can adjust the Gas Limit for the transaction (We recommend leaving it as the default).
You can also indicate the amount of KAI that you want to delegate or click “Maximum”.
One satisfied click “Delegate”.
The minimum required to delegate is 1,000 KAI.
Congratulations, you are now successfully delegating with a validator!
In order to claim the rewards we have to navigate to the Staking tab and then click on For Delegator as shown below.
In here we can find all the information regarding our delegated coins towards validators. We can see how much we are staking, to whom we have delegated our coins and our claimable rewards.
Simply by clicking on Claim Rewards we can claim the rewards and they will be available in the Balance that we see above within a second.
Notes: You can claim the rewards whenever you like. Once you have earned 1,000 KAI you can delegate those 1,000 KAI again. Your undelegated amount will be marked as “Unbonded”. Your current “Rewards” will be withdrawn to your wallet immediately. After 168 hours (7 days), your “Unbonded” KAI will be marked as “Withdrawable” and can be claimed to your wallet.
Staking KAI was relatively easy and should be so for anyone familiar with creating a cryptocurrency wallet. You need to make sure you are using the native KAI token and not the ERC20 version of KAI when following this guide. I was really impressed with the companies that are running validators for KardiaChain including the subsidiary of LG. The process itself was simple and the gas cost was cheap. It will be interesting to see what projects are built on top of KardiaChain providing more utility for the KAI token. The rate of return being around 15% compounded annually is a competitive rate. The way this reward is calculated is partially based on the linear distribution of 500,000,000 KAI over the course of 5 years (100,000,000 per year) so it will pay to be in early if you are committed to the long term. Overall the risk levels are low and the lockup periods are limited. I would highly suggest trying out this process and Staking your KAI. Happy Staking!