Everything you need to know about staking CTK.
You can Send, Stake, and Store your CTK in the DeepWallet.
Before you Stake do some research on which validator your will delegate to, you can use our Staking Rewards CertiK Provider Tab to help make this choice.
Get ready to enjoy around a 10% reward rate annually based off current parameters!
What is CTK Staking?
CertiK is built with the Cosmos SDK and is supported by a vibrant ecosystem of validators. When you “Stake CTK” you are essentially delegating your CTK to a Validator of choice. It is important to not that the Validator will charge a fee for this service.
One risk to consider when Staking CTK is the “Unbonding Time” associated with Un-Staking. The average lockup period when un-stakng is around 21 days.
Prerequisites
For starters you need to own some CTK.
Next make sure to go to the DeepWallet link provided about and create a new wallet for yourself. Make sure to save the backup phrase and private keys to your wallet in a safe loction.
Lastly you’ll want to make yourself familiar with the Validators in the ecosystem and get an idea of what kind of fees and uptimes they have. This information can be found on the CertIk Staking Rewards asset profile.
How to Stake CTK
Step 1
Before you can stake, you’ll need to create a DeepWallet. Navigate to https://wallet.certik.foundation/ and select “Create Wallet”.
Step 2
Next, the sign-up process will open; it consists of six steps. First, you fill in your email and desired password.
Then select “confirm”.
Step 3
The next step gives you a “passphrase”, it is your back-up phrase which you should write down somewhere securely in case you ever need to restore your account. Once you’ve written it down, select “I wrote it down”.
Step 4
The third slide will ask you to input specific words from the passphrase to confirm you’ve written it down correctly. Select “confirm”.
Step 5
Now the next step is a two-step verification process for which you will need a 2FA Authenticator App, such as Google Authenticator, 2FAS or Authy.
Open the 2FA app on your phone, select the “+” in the top right corner and scan the given QR-code on the screen with your phone’s camera. Next, fill out the code that you see on your phone’s screen in your desktop process and select “confirm”.
Step 6
Finally, select “go to wallet” and you’re taken to the desktop.
You’ve now created your wallet. Select “send” or “claim” in the left column on the dashboard to get your $CTK.
Step 7
Once you have your CTK, go to the validator tab on the top menu in the dashboard or https://wallet.certik.foundation/validators. On the right side of the screen, you can see how much CTK you have available for delegation, how much is staked, and how much you’ve earned.
The left will show you a list of all available validators. Scroll down to find the one you’d like to stake your assets with or type the name directly in the search balk on the top right of the column.
You can also do research on Validators on the Staking Rewards CertiK Provider Tab.
Step 8
Once you’ve found the validator of your choice, press on their name to open-up the staking screen. To stake, press the little blue button (as seen on the image below) and a pop-up will open.
Side note: if you click on the name of the validator it will also take you automatically to the CertiK explorer, where you can see all the performance details of the validator (see image below).
Step 9
The new transaction pop-up will ask you to add the amount of CTK that you’d like to stake. Please do so, and select “continue”. A summary will appear, confirm all details are correct and select “continue” once again. Finally, select “confirm”.
Congratulations! You are now staking your CTK/ Delegating your CTK with the validator that you chose. You will begin to earn rewards automatically.
Conclusion
The process is relatively easy for any user familiar with creating their own cryptocurrency wallet, as the user has to create a new DeepWallet for this process. It is very important to do research on the type of validator that you choose because they all have different performance uptime and fee structures, thankfully Staking Rewards makes this process easy with the CertiK Provider Tab. The “Un-Bonding” lockup period when unstaking is around 21 days and should be considered a risk when undergoing this process. With an average annual reward rate of around 10% it could be a positive experience for you staking CTK. We do not believe high gas fees are an issue here as the CertiK blockchain is native based off cosmos SDK. Enjoy your rewards and happy staking! For more information please visit the Staking Rewards CertiK asset Profile.