Getting Started with Lition Pool Staking — How to Deposit

Mark Stephen
Jan 2 · 3 min read

Lition Pool Staking (LPS) requires a minimum of 5000 LIT tokens to participate. You’ll also need a small amount of ETH in your account to pay gas costs (transaction fees).

Metamask

Lition Pool Staking has been designed to work with Metamask.

  1. Install Metamask
  2. Create new account to send your Lition tokens to, OR, import the account currently holding your tokens via these options:
  • Hardware wallet
  • Private Key or JSON file

LPS Deposits

  1. Go to https://staking.lition.io/lition-pool/
  2. Ensure you are logged into Metamask and connected to appropriate account.
  3. Click on ‘+ new deposit’
  4. Choose your deposit options:
  • Desired staking amount — No decimals. Please use whole numbers only.
  • Lockup period (3, 6, 9 or 12 months)
  • Whether you want to compound rewards (reinvest) or not.
  • Because of the necessary synchronization required between the Lition Pool and the Lition Registry, you can only deposit a new staking balance within the first three weeks of each month while the last week is meant for reward distribution.
  • All your pending rewards earned in a staking month will only be available for withdrawal on the last day of the month.
  • All lockup periods finish the last day of the month, during which you can either withdraw your stake or re-stake with a new lockup period of your choice.

5. Click on ‘deposit tokens’.

6. You’ll first need to approve the Lition pool contract to manage your tokens.

*Important: This transaction does not deposit your tokens into LPS. It is simply to allow the pool contract permission to manage your tokens for the actual deposit transaction.

7. Once the approval transaction is processed, click on ‘deposit tokens’ a second time.

8. Confirm the final transaction.

Note: Should you experience any trouble with the new web page during any of these steps, please clear your browser cache and try again.

*Important: It may be necessary to manually adjust the gas limit for the transaction. If your first deposit attempt fails, please complete the following steps:

  • click on ‘deposit tokens’ again
  • manually adjust the gas limit using the edit link above gas fee
  • Click on the advanced tab
  • Enter the values below in these fields:
  • Gas Price: 7 | Gas Limit: 800000
  • Save and then confirm the transaction

9. Wait 5 minutes and then verify the deposit was successful by going on the ‘balances’ page on LPS

link: https://staking.lition.io/balances/

You should be able to see your deposited amount under ‘my stakes’.


Thank you for participating in the network and we hope you enjoy the rewards! For additional support with LPS please connect with us on one of these community channels:

Lition Blockchain

Blockchain: The standard blockchain for enterprises and regulated markets

Mark Stephen

Written by

Lition Community Manager

Lition Blockchain

Blockchain: The standard blockchain for enterprises and regulated markets

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