Klever opens the opportunity to anyone with a mobile device anywhere in the world to earn a passive income by staking tokens inside K5 Wallet. This tutorial explains how you can stake your KLV tokens inside K5 Wallet. The tutorial covers the following points:
- How to stake KLV token inside K5 Wallet?
- How to delegate a KleverChain validator?
- How to re-delegate a different validator?
- How to claim your staking and delegation rewards?
How to stake KLV token inside K5 Wallet?
Step 1: Tap on Balance icon from the bottom-menu in the home page. Then, select KLV (Klever) token and choose an account.
Step 2: Inside KLV account, tap on STAKE icon. In staking page, tap on Staking button, then input the amount of KLV you want to stake and tap on Next button.
Notice!
The minimum amount of KLV to stake is 1000 KLV. And, it is recomended to keep at least 6 KLV (unstaked) in your account. This is because you have to pay 2 KLV as a network fee for each one of the following operations: staking, delegating, claiming rewards and unstaking.
Step 3: In the next screen, you will see the details of the staking transaction. Tap on Confirm button, then input the PIN code or your Biometrics to sign the transaction.
Notice!
Each time you stake a new bucket is created. Each account can have up to 100 buckets. Having more than one bucket allows you to split your KLV between several validators. Each bucket can be delegated to one validator.
How to delegate your KLV tokens to a KleverChain validator?
When you stake your KLV tokens, you will earn staking rewards starting from the next epoch (6 hours). You can also delegate your KLV to a validator and earn delegation rewards. Note, if you would like to delegate your KLV to several validators, then you have to split your KLV in buckets and stake several times, a bucket at a time. You can delegate your KLV inside K5 Wallet as follows.
Step 1: Inside KLV account, tap on STAKE icon. Then, in staking page, tap on Manage buckets button and choose a bucket to delegate.
Step 2: In the next screen, tap on Delegate button. Then, choose a validator from the list and tap on Delegate button.
Step 3: In the next screen, you will see the details of the delegation transaction. Tap on Confirm button, then input the PIN code or your Biometrics to sign the transaction.
Disclaimer!
There are some validators by Klever team. However, anyone can create a node on KleverChain and becomes a validator. It is your responsibility to choose wisely to which validator you delegate your KLV tokens. A validator that takes the smallest commission may give you more rewards. However, choosing a validator that contributes to the success of KleverChain, e.g. by building a dApp or creating good materials, will be more profitable for all in the long run. Some validators use the commission as a source of funding for their projects.
How to re-delegate a different validator?
Step 1: Inside KLV account, tap on STAKE icon. Then, in staking page, tap on Manage buckets button and choose a bucket to re-delegate.
Step 2: Under Bucket Details, tap on a Switch Validator or Undelegate. Then, choose a different validator from the list and tap on Delegate button.
Step 3: In the next screen, you will see the details of the re-delegation transaction. Tap on Confirm button, then input the PIN code or your Biometrics to sign the transaction.
Notice!
The re-delegation operation costs 2 KLV as a network fee.
How to claim your staking and delegation rewards?
Step 1: Inside KLV account, tap on STAKE icon. Then, in staking page, tap on Claim button and from claim options tap on Claim from staking / Claim from delegations.
Step 2: In the next screen, you will see the details of the claim transaction. Tap on Confirm button, then input the PIN code or your Biometrics to sign the transaction.