OtoCo is a dApp that lets anybody with an Ethereum wallet spin up a real-world Limited Liability Company (LLC) in Delaware and Wyoming on the Ethereum blockchain. Users can also set up an unincorporated Decentralized Autonomous Organization (DAO) for their projects and organizations. The token that powers the Otoco platform is OTOCO and it is exclusively used for staking and the tokenized points system on the dApp store. This tutorial will show you how to stake OTOCO tokens on DodoeX to earn liquidity mining rewards.
Please note: The liquidity mining rewards have now ended.
- View the current OTOCO staking APR here
- Use the OTOCO Staking Calculator to estimate your rewards
- Stake OTOCO: No lockup
- Average commission: 0.03%
- Minimum amount required for staking: No minimum
- Estimated time needed to stake your OTOCO in your wallet: 3 minutes
- Recommended OTOCO staking wallets: Ledger, Metamask
- Steps to stake:
- Step 1: Go to the staking pool on Dodoex and connect your wallet.
- Step 2: Make sure you are on the ‘Earn’ tab and have clicked the ‘Mining’ toggle
- Step 3: Search the OTOCO address 0x23eC026590d6CCCfEce04097F9B49aE6A442C3BA
Step 4: Click ‘Stake’ and approve the transaction
Where to buy OTOCO
You can get OTOCO tokens at a cryptocurrency exchange, at a DEX, or within select wallets. You should always do your own research when selecting a reputable cryptocurrency exchange. For best security, it is not recommended to leave your tokens on an exchange, but transfer them to your non-custodial or cold/hardware wallet after procuring them.
Follow the steps below to find OTOCO on UniswapV3:
- Go to the Unsiwap dApp
- Make sure you are connected to Ethereum Mainnet
- Select ‘ETH’ in the top tab
- Paste the OTOCO contract address in the bottom tab
- Click ‘Swap’ and sign the transaction
Otoco has a variety of non-custodial wallets for you to choose from. We recommend that you use a hardware wallet such as Ledger otherwise we suggest using Metamask wallet. Compatible wallets include:
How to add Otoco (OTOCO) to Metamask
Click on the MetaMask icon within your browser and login. Once you have logged on, click on the currently connected network,make sure ‘Ethereum Mainnet’ is selected. ‘Ethereum Mainnet’ is displayed by default when installing the wallet the first time.
- If you want to add Otoco, click on ‘Import tokens’ at the bottom of the wallet.
- Click on ‘Custom token’
- Add the OTOCO contract address
- Click ‘Add custom token address’
Selecting Otoco validators
Otoco employs smart-contract staking on top of the Ethereum network, so you do not need to select Otoco validators.
How Staking Rewards for Otoco are Generated
Learn how rewards are generated in the FAQ section titled ‘How are the rewards generated’’ here.
How to Stake Otoco (OTOCO)
Step 1: Make sure you have a Metamask wallet
Metamask is a popular wallet in the Ethereum ecosystem and offers users the ability to stake their tokens, use blockchain apps and manage multiple tokens in one wallet. Otoco is an ERC-20 token and is therefore compatible with Metamask wallet. You can download the Metamask wallet here.
Step 2: Go to the Dodoex
Head over to the Dodoex Earn tab and connect your MetaMask wallet.
- Click the ‘Earn’ tab
- Click the ‘Mining’ toggle
- Search the OTOCO address in the search bar
- Click ‘Stake’ and enter the amount of OTOCO you want to stake
- Approve the transaction
Please keep in mind that you will need to pay an Ethereum gas fee when staking your OTOCO, the cost of this will vary depending on the network activity on Ethereum.
Congratulations, you have now staked your OTOCO and will start earning liquidity mining rewards.
Step 3: Track staking portfolio
- Track your OTOCO staking rewards on the ‘My Staked’ tab on the ‘Earn’ page.
- Track the current and historical reward rates, number of unique Otoco staking wallets, and staking ratio of the Otoco network by visiting the Otoco asset page. To make better staking decisions, it’s essential to understand these relevant data points.
Step 4: How to Unstake OTOCO
To unstake your OTOCO from the staking module, go to the Dodoex ‘Earn’ tab and click on ‘My Staked’. Click ‘Unstake’ and sign the transaction. There is no lockup period when staking OTOCO.
Maximizing Staked Otoco (OTOCO)
Now that you have staked your OTOCO, you have three options which can be used to change your position. The options are:
You can stake more OTOCO through the staking option mentioned above.
You can claim your rewards on the dApp.
You can unstake your OTOCO at any point, there is no lock up on single sided staking.
Smart-contract staking is a popular way to earn yield on your dApp tokens. Otoco needs active stakers like you to become successful long-term. Now share the tutorial with your friends so they can get to start staking as well! Lastly, don’t forget to check out the Otoco (OTOCO) asset page for more insights into staking OTOCO, and drop us a message if you found this tutorial useful. Happy staking!