How to Stake $XKI (Ki chain) tokens with Ki Desktop wallet
First, we need to download a wallet.
Download the wallet distribution from the official Ki Foundation GitHub repository or via direct links for your operating system:
In this FAQ we used Ki Desktop wallet for Mac OS as an example
Install the wallet on your computer
You can always find and download the latest version of Ki Desktop wallet here. Run the installation wizard, install it.
Launch the wallet
Once launched on the home screen, choose whether you want to import an existing wallet using a seed phrase or create a new one.
Since you do not have a wallet, you will need to generate a new one, so select Generate New Wallet.
Choose a name for your wallet and click Generate Wallet.
Create a wallet backup
Ki Desktop Wallet will generate a 24-word wallet recovery seed. You will need it in case your device is lost or damaged and you cannot access your funds.
REMEMBER! Write down your mnemonic seed phrase and securely store it. Whoever has access to the mnemonic seed also has access to your funds!
Write down the words in sequence on paper and put them away in a safe place to avoid losing them. Then click Proceed.
Then fill in the missing words to make sure the seed is correct and click Verify.
Create a password
Protect your wallet with a strong password then click Save.
How to delegate tokens
When you have created a wallet and after you sent some tokens to your wallet you can stake XKI.
First, you need to get an address. To do this, simply click on the wallet (step 1). Then you can see your wallet address just in the upper-left corner under the wallet name, click on it to copy (step 2).
After you finish funding your wallet you can move to the next step.
Open the wallet control panel (step 3).
To access the control panel and staking, click on the wallet.
Select the validator
Go to the Delegation tab, and choose the validator from the list. To quickly find the right validator, for example, StakeCraft, enter its name in the search string. Then click Delegate.
StakeCraft Validator delegation address:
Specify the number of XKI tokens that you want to stake. You can also manually configure the network fee by moving the slider. The larger the commission, the faster the transactions are confirmed. Then click Delegate.
Hint. Leave a few tokens so you have something to pay the commission with when you delegate, transfer tokens, or collect a reward.
You sent the tokens to be staked but the validators still need to confirm the transaction. You can track the status of the transaction in the Transactions tab simply by clicking on that transaction. Usually, it takes a transaction just a few seconds to appear, but if you don’t see it, click the Refresh button on the right of the top bar to haste the UI.
Or you can find it using Ki Chain Explorer by going to the Delegations tab of your validator inside the VALIDATORS section, where you can find it by your wallet address among all existing delegations.
Besides web explorer, to keep track of XKI transactions and staking you can utilize application that suits your smartphone:
If the transaction is confirmed, XKI tokens have been staked, and now you will receive rewards every time your validator commits new blocks.
How to withdraw rewards
To withdraw the accrued rewards, go to the Withdraw tab and click Withdraw next to the name of your validator. In the window that appears, enter your password and click Withdraw.
Usually, rewards reach your wallet account almost immediately, which you can delegate afterward and increase your earnings even more.
You can find us:
StakeCraft - Trustworthy Validator
StakeCraft is a team of geeks with vast experience in programming, developing and managing digital assets.We use top…
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