Klever opens the opportunity to anyone with a mobile device anywhere in the world to earn a passive income by staking tokens. This tutorial covers everything you need to know about ICP staking inside Klever Wallet. It illustrates step-by-step:
- How to stake ICP tokens?
- How to unstake ICP tokens?
- How to withdraw your ICP tokens?
- How to increase the Dissolve Delay?
- How to increase ICP staking?
You can stake ICP tokens inside Klever Wallet as follows:
Step 1: Tap on ICP token from your Portfolio screen. Then, tap on STAKING icon and input your PIN code or use Biometrics to enter the staking screen.
Step 2: Tap on Create Neuron button. Then, input the amount of ICP tokens you want to stake and tap on NEXT button. In the next screen you will see a summary of the process, tap on Submit Transaction button to proceed. Note, the minimum amount to stake is 1 ICP.
Step 3: Input your PIN code or use Biometrics to sign the staking transaction. Once done, you can tap on STAKING icon again to display your neuron with ICP tokens locked inside.
How to unstake ICP tokens?
To unstake your ICP tokens, you have to set a dissolve delay, then unlock your ICP token.
The dissolve delay is the period required for the neuron to dissolve, and thus unlock your tokens. You can set a dissolve delay as follows:
Step 1: Inside staking screen, tap on Dissolve Delay button.
Step 2: In the next screen, select the desired dissolve delay. Longer dissolve delay results on larger Voting Power. Larger Voting Power means more rewards. Note, the minimum dissolve delay to get Voting Power is 6 months. This means if you choose a delay less than 6 months, you will get 0 Voting Power, and thus no rewards. The maximum dissolve delay allowed is 8 years. Once you choose a dissolve delay, you can tap on Next button to proceed.
Step 3: Tap on Submit Transaction button. After, you have to enter your PIN code to sign the transaction.
Setting a dissolve delay is not enough to start the dissolving of the neuron and unlock your ICP tokens. The dissolving starts when you unlock your neurons. For example, if you set a dissolve delay of one year, then your ICP tokens will be available after one year from the time you start the unlock process. You can unlock your neuron as follows:
Step 1:Tap on Start Unlock button.
Step 2:Tap on Submit Transaction button. Then, you have to enter your PIN code to sign the transaction. When the dissolving process starts, you can see the word Dissolving mentioned under the amount. Note, you can Lock/Unlock your tokens anytime you want.
How to Disburse your neuron and withdraw your ICP?
Step 1: Inside the staking screen, tap on Disburse button.
Step 2: Next screen displays the transaction summary. Tap on Submit Transaction to proceed.
Step 3: Finally, provide your PIN code or Biometrics to sign the transaction.
How to increase the Dissolve Delay?
Step 1: Inside the staking screen, tap on Increase Delay button.
Step 2: Set a new dissolve delay, then tap on Next button. Note, the new dissolve delay should be greater than the current delay.
Step 3: Tap on Submit Transaction button. After, you have to enter your PIN code to sign the transaction.
Step 1: Inside staking screen, tap on Increase Staking button.
Step 2: Input the amount of ICP you want to add to your staking, then tap on NEXT button.
Step 3: Tap on Submit Transaction button. After, you have to enter your PIN code to sign the transaction.
