How to stake Cartesi (CTSI) via MetaMask Wallet
What is Cartesi?
Cartesi is an off-chain decentralized computation platform. It is unique because it allows decentralized applications to be run on Linux in a way that’s verifiable by the blockchain. Complex processing can be executed off-chain free from blockchain’s computational limits and corresponding fees.
A user can stake CTSI tokens by running a node, custodial staking, or delegation staking. With delegation staking, users can stake CTSI through Staking Pools, created and managed by third-party organizations or individuals, without the need to hand their tokens directly to third parties. In this case, pool operators are responsible for managing a Noether node. Delegation staking is a non-custodial process, so you will need a non-custodial wallet like MetaMask.
How to create a MetaMask Wallet
Note: in case you already have a MetaMask wallet, you can skip this step and proceed to the staking section.
Go to MetaMask crypto wallet and click on the “Download” button. Choose your preferred browser or mobile application and install the MetaMask extension. MetaMask supports iOS, Android native apps along with Chrome, Firefox, Brave, and Edge browser extensions. In our example, we will use the Chrome browser. Please click on the “Install MetaMask for Chrome” button, as shown below.
A new window will open, please click on the “Install” button.
A pop-up window will appear, please click on the “Add extension” button to continue the process.
Your MetaMask extension is installed. To make it visible, firstly click on the “Puzzle” button, and finally click on the “Pin” button.
Your extension is visible now. To continue please click on the “Get Started” button as shown in the picture below.
You can either import an existing wallet using the seed phrase or create a new one. To continue, please click on the “Create a wallet” button.
In the next window click on the “I agree” button if you would like to help improve MetaMask or click on the “No Thanks” button to proceed.
To surpass the next step, firstly you must create a strong password for your wallet, secondly confirm the password, thirdly agree with terms of use, and finally click on the “Create” button, as shown below.
MetaMask prepared a short video about your Secret Recovery Phrase and how to keep your wallet safe. We highly recommend watching this video. Click the “Next” button after watching the movie.
To advance, click on the “Click here to reveal secret words” button to show the seed phrase. MetaMask requires that you store your seed phrase in a safe place. It is the only way to recover your funds if your device crashes or your browser resets. We recommend you write it down. The most common method is to write your 12-word phrase on a piece of paper and store it safely in a place where only you have access to. However, a better solution to secure your seed phrase and password is to save them encrypted on a password manager and a password generator, such as the LastPass app that locks your passwords and personal information in a secure vault.
Note: if you lose your seed phrase, even MetaMask can’t help you recover your wallet and your funds will be lost forever!
Never share your seed phrase or your private key to anyone or any site, unless you want them to have full control over your funds. After you safely stored your seed phrase, please click on the “Next” button.
To finalize the process, firstly you must insert the 12-word phrase in the correct order in which the words were presented in the previous screen and finally click on the “Confirm” button, as shown below.
Congratulations! Your MetaMask wallet has been set up successfully. To access your wallet, you must click on the MetaMask icon at the top-right-end corner of your chosen browser.
How to fund your MetaMask wallet?
Firstly, you must “Сopy to clipboard” your MetaMask account, as shown below.
And then, go to your CTSI account (wallet/exchange) and send your CTSI tokens to your already copied MetaMask address.
To visualize your CTSI tokens, you must click “import tokens”.
Then, firstly write “CTSI” in the search bar, secondly click on the Сartesi (CTSI) logo, and finally click “Next”.
A new window will appear, click “Import Tokens”.
Your CTSI account has been created successfully and your transferred CTSI tokens are visible.
How to stake Cartesi (CTSI) Staking Delegation
Note: on October 1st, Cartesi launched Noether’s Staking Delegation Mainnet Beta. In the Beta phase, the pools will have a 3.6M CTSI limit. The Mainnet launch for delegating staking is going to start once the Beta Delegation phase is tested enough and only after everything works out smoothly and securely.
To start the staking delegation process, go to the Cartesi staking platform and accept the terms and conditions. In case the screen brightness bothers you, the Cartesi team has inserted a useful option in the upper right corner through which you can switch to dark mode.
To be able to delegate CTSI tokens you will need to connect the MetaMask wallet. Log into your account by clicking on the “Connect to Wallet” button to surpass this step.
Don’t forget about your crypto security. Check this article for useful tips
Crypto Security Guide: How Not To Lose Your Funds When Using Cryptocurrency
In order to correctly connect to the staking platform, please be sure to select the correct network — the Ethereum Mainnet, as shown below.
In order to delegate CTSI, you will need ETH for transaction fees and CTSI tokens for staking. The transaction fees are needed to initiate staking, unstaking, and withdrawal requests for staking CTSI in a pool.
Once your funds are prepared and your MetaMask wallet is connected you must select a staking provider.
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In our example, we will use everstake’s pool. In order to choose it, please click the “Stake” button, as shown below.
To continue the process, you will need to set an allowance by clicking on the “Edit” button and confirm the transaction.
*Tip: you can set an allowance bigger than your CTSI amount so that you don’t spend other transaction fees in case you want to add more CTSI to the pool. Insert the allowance you want to have, click the “✓” button and sign the afferent transaction.
After this point, you will need to add the amount of CTSI tokens you want to add to the pool by clicking on the “+” button, as shown below.
On the pop-up window insert the number of tokens you want to add. Then click on the “✓” button and confirm the transaction.
Your stake is added to the pool and has started the 6 hours maturing period.
In order to finish the process, you will need to stake the CTSI tokens. To do this, please click on the “+” button, insert the amount you want to stake, click the “✓” button and confirm the transaction.
Your tokens are staked and ready to produce rewards.
The user reward share is not directly transferred to the user wallet. Instead, it is re-staked automatically by the smart contract, producing a compounding effect. The stake of the reward is also subject to the regular stake maturation period. If you desire to unstake, firstly click on the “-” button, then insert the amount or click on the “Full amount” button. Once the amount is selected, click on the “✓” button and finally confirm the transaction.
The CTSI tokens have been unstaked and entered the pool. In order to withdraw some CTSI tokens from the pool, firstly click on the “-” button, secondly enter the amount you desire to withdraw, thirdly click on the “✓” button, and finally confirm the transaction. Note: depending on the immediate availability of the requested tokens, the user may have to wait for the pool to unstake tokens from the Staking Contract, or not.
Finally, our CTSI tokens are withdrawn.
Frequently asked questions (FAQ)
1. What are the limitations in Noether’s Delegation Staking Beta?
In this Beta release, every pool is capped at 3.6M CTSI and, from those, 3M CTSI are from the mining reserve for the purpose of beta testing. Once this Beta phase is over, the 3M CTSI will be removed from the pool and returned to the mining reserve.
2. What are the user transaction costs?
The user has to set an allowance, issue a deposit, create a stake order, create an unstake order and initiate a withdrawal. For all of these requests, transaction costs must be paid by the user performing them.
3. What are the pool manager costs?
The pool manager spends ETH for rebalancing the pool liquidity (which stakes/unstakes from the PoS the CTSI needed to honor the aggregate behavior of the pool users). As the PoS has a 48-hour unlocking period and a 6-hour maturing period, this rebalance happens at most 9 times every 2 days (1 time due to unstaking, 8 times due to staking). The pool owner also spends ETH to produce blocks.
4. How do users get rewarded?
Whenever a pool produces a block reward, a commission is cut from the reward and sent to the pool owner. The remaining rewards are split evenly throughout the whole pool.
5. Why does a pool owner charge a commission?
The pool owner has to set the commission high enough to pay for these maintenance transactions and other costs (like hardware, monitoring, personnel, etc) plus their profit, but low enough to be competitive and attract/maintain the users.
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