Cold Staking in Callisto Network — How to Claim with Magnum Wallet
We are glad to announce that Magnum Wallet now supports the Callisto Cold Staking protocol.
Callisto Network is a decentralized open source crypto platform based on the go-Ethereum source code with its own cryptocurrency $CLO. This is the first coin to introduce cold staking in its network. It gives long-term coin holders, or stakers, the ability to earn passive income (rewards) for holding their $CLO coins. Cold Staking is not related to PoS or any other consensus algorithm. More information on how Cold Staking works can be found here.
How to claim Callisto?
To get started, go to the official Magnum Wallet website.
On the very first page click on the “IMPORT OR RESTORE” button, choose $CLO from the drop-down menu and choose one of the available methods if you already have a $CLO wallet.
Click “CREATE A NEW WALLET” if you want to create a new one. Then enter a secure passphrase to protect your wallet.
Once you reach the dashboard, proceed to the Callisto Wallet. As soon as you are inside the wallet go to the “Staking” tab.
Read the Staking rules carefully: the funds that you put aside for this will be frozen for at least 27 days. Afterward, enter the sum you want to stake and press “NEXT”. Then enter the password or press the button on your hardware device for confirmation.
Here we go! When the first reward date will come, you will be able to withdraw the reward and staking funds as well if you want to terminate claiming. In order to withdraw the reward, you should press the “CLAIM REWARD” button in your Callisto wallet and confirm the action.
