HOPR Staking Tutorial
The HOPR staking program is now live! This tutorial will show you how to stake your xHOPR tokens using the staking interface. Rewards will accumulate after July 27th and can be claimed at any time.
IMPORTANT: The HOPR staking contract lives on xDAI chain, and stakes are in xHOPR. You need to make sure your wallet is set to xDAI before you connect to the widget. If you try to connect on Ethereum, nothing will happen.
If you’re using Metamask, you can find a tutorial for adding xDAI here. If you need to know how to convert HOPR on ETH to xHOPR, or unwrap wxHOPR to xHOPR, you can find that here.
Once you have the xHOPR you want to stake in your wallet, and your wallet connected to xDAI Chain, you can go ahead and connect to the HOPR staking interface.
Visit https://stake.hoprnet.org/ You’ll see the staking interface.
Press the “Connect to a wallet” button in the top right.
Choose your wallet type. For this tutorial we’ll use MetaMask.
A popup will appear. Select the wallet you want to use as your staking address from the list and click “Next”.
IMPORTANT: Once you stake, this will be your address for the rest of the staking program. In particular, any NFT boosts you earn will have to be redeemed from the same address. Make sure this address is secure and you will have full access to it over the coming months. Staked tokens are locked until the end of the program, although rewards can be claimed at any time after July 27th.
Another popup will appear. Click “Connect” to give the staking interface permission to access your balance details.
Once connected, the site will update to show your personal staking details. The xHOPR and xDAI balances of your wallet will show at the top. In our example there’s 100 xHOPR available to stake.
Enter the amount you want to stake in the amount field in the centre of the screen and then press the “Stake xHOPR Tokens” button.
Another popup will appear. Press “Confirm” to stake your tokens. You’ll need some xDAI to pay the extremely small fee associated with this. (In this example, the fee was less than a cent.) If you’re short of xDAI you can get some from the xDAI faucet.
Wait for the transaction to confirm. This should take just a few seconds, but it may take several minutes if the chain is busy. Once the transaction is confirmed, your balances should update.
As you can see in the example below, the available xHOPR balance is now 0, and the staked balance is now 100.
Earning and Claiming Rewards
Rewards will start to accumulate from 2pm CET on July 27th. Rewards can be claimed at any time. To see how many xHOPR are available to claim, click the “Sync Rewards” button. To claim, click the “Claim Rewards” button. Like staking, there will be a small fee associated with this.
Rewards are paid in wxHOPR, the wrapped HOPR token used in HOPR nodes on xDAI Chain. Make sure you have wxHOPR added to your wallet, or you won’t be able to see them. For details on how to do that, see this article.
You can unwrap your wxHOPR to xHOPR using our wrapper. Once unwrapped, the xHOPR can be immediately staked by repeating the steps above.
HOPR Boost NFTs
HOPR boost NFTs are a way to boost your APR by participating in HOPR testnets and other events. The first NFT, the HOPR HODL NFT, has already been issued to HOPR holders based on how long you’ve had HOPR in your address.
There are two ways to check what NFTs you have.
First, you can go to the UI at stake.hoprnet.org and connect your wallet, as explained above. If your wallet has any NFTs in it, they will appear in the NFT panel.
Second, you can visit blockscout.com and enter your address. Click the “Token” tab and your NFTs will appear.
Redeeming NFTs
If you want to redeem an NFT, head to stake.hoprnet.org and connect your wallet.
To redeem an NFT, press the “Lock NFT” button under the NFT you want to lock. A popup will appear asking you to confirm and pay a (very) small amount of gas.
IMPORTANT: When you confirm, the NFT will be sent to the token contract and boost the associated address. This cannot be undone! So make sure you’re redeeming the NFT you want in the address you want. Like stakes, NFTs are locked until 17th January, at which point they’ll be automatically returned.
Transferring NFTs
NFTs are tradable and transferrable. To transfer an NFT to a new address, visit the contract at:
https://blockscout.com/xdai/mainnet/tokens/0x43d13D7B83607F14335cF2cB75E87dA369D056c7/write-contract
Scroll down to either 9. safeTransferFrom or 12. transferFrom (it makes no difference).
In the first field write the address where the NFT is, in the second field write the address you’d like to send the NFT to and in the third field write the unique identifier of the NFT you’re sending. You can find this ID by entering your address into blockscout and going to the Token tab.
The ID is the number in square brackets. Clicking on the TokenID link will also take you to a page showing the NFT along with its ID and image.
There will be a (very) small gas fee associated with the NFT transfer.
Trading NFTs
NFTs live on xDAI Chain, which is not currently supported by major NFT marketplaces like OpenSea. We’re looking into options for how NFTs can be traded on xDAI or bridged to other chains for trading, but this isn’t an immediate priority for us. The main goal of the NFTs is to reward HOPR staking.
As always, if you have any questions, don’t hesitate to ask on our Telegram channel.
Happy staking!
Rik Krieger
HOPR Co-Founder
Website: https://www.hoprnet.org
Twitter: https://twitter.com/hoprnet
Telegram: https://t.me/hoprnet
Discord: https://discord.gg/dEAWC4G
LinkedIn: https://www.linkedin.com/company/hoprnet
Forum: https://forum.hoprnet.org
Github: https://github.com/hoprnet
Staking: https://stake.hoprnet.org
