How to stake Cardano ($ADA) using Daedalus Rewards Wallet
The Cardano Shelley Incentivized Testnet is Officially Live. ADA holders now can start to delegate the stake and earn real ADA rewards!
In this step by step guide, we will explain to you how to delegate your ADA using Incentivized Testnet Daedalus Rewards wallet.
We assume that you have the Cardano mainnet wallet which was holding ADA at the time of the balance snapshot on November 29, 2019.
If you are not aware yet, KysenPool is now Live on Cardano Shelley Incentivized Testnet and ready for ADA delegation. (Ticker: KYSN)
Install Daedalus for the Incentivized Testnet
- Go to staking.cardano.org/en/delegation/, download and install the Rewards version of Daedalus for the Incentivized Testnet.
- Open Daedalus for the Incentivized Testnet.
- Accept the default settings. Click ‘Continue’.
- Review and accept the Terms of Service Agreement. Click ‘Continue’.
- You will see the splash screen. Click ‘I understand’ to proceed to the main user interface. You can also click ‘Learn more’ if you would like to know more about the Incentivized Testnet.
Restore a Balance wallet
- Click ‘Restore’.
- Enter Wallet Name, Recovery phrase and Password. Click ‘Restore wallet’.
- After the restoring completed, you would see Balance wallet with the same amount of testnet ada as you had in your mainnet wallet at the time of the balance snapshot.
Create a Rewards wallet
- Click the ‘Create a new Rewards wallet’ button.
- click ‘Create’.
- Enter the name and password for the Rewards Wallet. Click ‘Create a wallet’.
- Confirm that nobody can see or record your screen. Click ‘Continue’.
- Write down the list of 15 words. Make sure you keep all recovery phrases for your Rewards wallets safe. You will need these recovery phrases to redeem Incentivized Testnet rewards on the Cardano mainnet. Click ‘Yes, I have written it down’.
- Click each word in the correct order to verify your recovery phrase.
- Read the text carefully and tick the 3 boxes. Click ‘Confirm’.
Move ADA from a Balance wallet to a Rewards wallet
- Select Balance wallet. Click ‘Move testnet ADA’.
- Confirm the Balance wallet and Rewards wallet is correct. Click ‘Continue’.
- Enter the password of Balance wallet. Click ‘Transfer funds’.
Delegate your stake
- Click the second icon from the top in the main navigation to access delegate features.
- Click ‘Delegate your stake’
- Click ‘Continue’.
- Choose a wallet with funds that you want to delegate.
- Select a stake pool. Let’s say you pick us, KYSN.
Enter KYSN in search bar. Click ‘Continue’.
- Enter the password of Rewards wallet. Click ‘Confirm’.
- Congratulations! You’ve just delegated ADA to a validator.
How to collect rewards?
You can view rewards earned on the ‘Rewards’ tab.
At some point after the Incentivized Testnet program is over, rewards will be transferred to mainnet and you will be able to redeem your rewards using the wallet recovery phrase of your Rewards wallet.
If you have any questions, please feel free to ask us directly in our Telegram.
KysenPool Presents to the community of blockchain token holders a choice of a secure enterprise-grade infrastructure performing blockchain validation services.
Formidable hybrid cloud setup into dedicated servers in a private cage with biometric access control in a Tier 3 Equinix facility.
From AWS Virtual Private Cloud firewalls to physical dedicated firewalls, creating multiple layers of protection to mitigate against breaches.
We build in operational policies to ensure high-availability with secondary server fallbacks and repeatable orchestration layers.
Stake with KYSN and Enjoy Rewards!