Solved: The Mystery of the Missing ONT Stakes
User Guide for Recovering Staked ONT assets.
On October 21st 2020,
The team at O3 announced that ONT staking and the O3-developed, staking interface, known as ‘Staketology’— were to be discontinued. Following that announcement, Staketology was removed from within the O3 wallet on November 1st, 2020.
Staketology, the once wildly popular ONT staking application had suffered in recent times. The decline can mostly be attributed to the increased popularity of other staking services and an explosion of Defi projects; many of which, far outpaced the popularity of ONT staking.
The abrupt announcement shocked many ONT stakers, especially those that had only learned about the removal after it had taken place.
Despite it’s removal, Staketology users can freely access their ONT stakes by connecting their O3 Wallets to the Staketology web app. Users can access this by connecting their wallets directly to the Staketology on the web.
Effective Immediately — O3 Wallet Has Discontinued It’s Support of ONT Staking. Please Migrate Your ONT Assets To Continue Staking.
It is true, the Staketology application has been deprecated and discontinued.
The O3 Staketology app was actually just a graphical user interface that simplified the process of interacting with the Ontology blockchain. In other words, staked funds were never affected in any way by it’s removal.
Recovering Staked ONT Assets
If you previously staked ONT through the web3 Staketology app then you you may require some assistance.
Most users will have automatically received their funds directly into their ONT Wallets.
Any user that staked with a validator node that has since gone offline or disappeared, the funds were sent back automatically. If your staked funds have not been received, additional action may be required.
Instructions:
1st —If you do not already have the O3 Desktop wallet, you will need to download it and ensure that your version is up to date. Compatible Operating Systems include: Windows, Mac, & Linux, among others.
2nd — After installation, launch the O3 wallet application and import your ONT wallet. You must select the originating wallet of your ONT stakes.
3rd — Open the web browser on your desktop, (Chrome or Brave) and navigate to the legacy Staketology web interface:
4th — Connect your O3 Wallet. Tap the connect button on the Staketology webpage. After this, you will need to approve the connection with your O3 Wallet. A request with pop-up and require your authorization. Once approved, the connection will have been made.
5th — Claim any ONG rewards. Tap the CLAIM button beside the UNCLAIMED ONG balance. Your ONG profits will be withdrawn to your ONTOLOGY wallet. Once the claim has been made you will need to initiate a manual transaction to execute the return transfer. It does not occur automatically. To remedy this, simply send 1 ONT to your own wallet address. This will complete the withdraw. Once all rewards are claimed. Move on to the next step.
6th — Redeem your staked ONT. Tap REDEEM and enter the maximum amount or the full balance of staked ONT. Once the authorization has been confirmed, your ONT will be moved to a pending status. The redemption is not instant and you will be required to wait 1–2 full staking periods before the funds are able to be withdrawn. The waiting period varies and is dependent upon the validator node you were staked with. For candidate nodes the process is faster, only 1 full period of waiting is required. For consensus nodes, 2 full periods are required before your ONT can be withdrawn. The process usually takes between 5–15 days. On some rare occasions it can take longer, dependent upon the ONT network conditions. Wait it out, and then withdraw your funds directly to your ONT wallet.
Once you have completed these steps up, the process of recovering your formerly staked ONT is complete! ♻️ Enjoy Your Profits.
Moon Staking
For those that wish to continue staking ONT, a new service provider will need to be selected and your funds will need to be migrated to their infrastructure.
⚠️ Please use caution when downloading any software onto your device. Be sure to utilize a trusted file source or preferably, direct download from the developer. Downloads from 3rd party file hosts are strongly discouraged. It is suggested to run an integrity check of ANY file prior to installing it on your device. This increases the level of protection against malicious files and/or unauthorized clones.
For desktop users that wish to continue staking their ONT, we recommend using O Wallet.
O Wallet can be downloaded directly from their GitHub repository.
Once installed, import your ONT private key and your assets will populate. Select STAKE MANAGEMENT and enter the details and submit. Your ONT will be staked and your ONG will begin accumulating! Congrats! 🎉
O3’s Commitment To Asset Security & User Accessibility.
At O3, the security and protection of our users’ assets is our highest priority. Over the past 3 years, the O3 Wallet has earned an industry recognized reputation for the high level of protection and security that we provide our users. Our security protocols are extensive and include regular audits by leading cyber-security organizations.
Despite the extraordinary security measures we take to provide an ultra-safe environment, we equally recognize the importance of delivering constant access to one’s crypto assets, including staked assets.
Our strict adherence to these doctrines prevents any action that may restrict or limit access your access to your assets. As is the case with every O3 Wallet, the keys are held, protected, and managed directly by the user. This approach is consistent with the inherent security implications and technical specifications of decentralized solutions.
Official O3 Support Channels
If additional assistance is required, our support team is available and ready to assist.
Support Availability: 24 hours a day, 365 days a year!
☑️ Support email: support@o3.network
☑️ Join the O3 Telegram Community.
☑️ Follow Us Twitter: @o3_labs
☑️ Visit our website: o3.network
Reminder: O3 Support will never contact you first. If someone contacts you directly and claims to be a member of our team or an O3 support agent, you are advised to report and block them.
Your PRIVATE KEY is the key to unlock your assets. If you reveal your private key to anyone for any reason, your are giving them total control and access to all of the assets stored on that wallet.
⛔️ Please do not share or reveal your private key.
