Everything you need to know about staking EVER.
You can stake EVER by moving your tokens into a wallet that supports staking such as Ever Surf which we use in our example.
Ever Surf is a blockchain communicator and it is where you can create an EVER Wallet. They describe themselves as a free, private, and easy blockchain interface for smart people and that they are making blockchain accessible. Here you will be able to create your wallet, set your PIN, and view/ backup your private key. Always remember to securely save your private keys and backup phrases.
Next, you will need to Activate your wallet.
Do this by clicking the “Activate” button and selecting “Get Welcome EVER’s” and then “Confirm”.
Now you will have an EVER address to fund with EVER that can be purchased directly from the Ever Surf dashboard with transactions up to $300 not requiring KYC.
You can also acquire EVER from major exchanges like Gate.io, Changelly PRO, or MEXC Globalany.
When you stake your EVER, consider the amount of EVER staked will in some cases lead to a higher APY, as is the case for Boosted Staking.
When staking your EVER, you have two staking types to consider:
- Everstaking
- Boosted Staking
Each has different characteristics such as lock-up time, validator fee, and reward. For more details on DePools please visit the Staking Rewards Everscale Asset Profile.
What is EVER Staking?
The current version of EVER staking is funded from a portion of the annual percentage yield generated from validators.
Everstaking: Users can stake with different DePools that offer unique lockup periods, performance, and fees. This option is considered to be more flexible as the user can unstake with a lesser lockup time than with boosted staking. Consider a minimum stake of 100.5 EVER to begin staking. User earns around 5% APY staking with this method with rewards auto reinvesting.
Boosted Staking: Users can Stake with the Boosted Staking DeBot where users can unlock long-term staking and advanced rewards up to 20% APY. Staking with this option offers lockup times of up to 2 years. The advantage is that users will get a higher APR for staking, with the downside being that their funds are locked for a long period of time. This option is available early in the project’s life cycle to help incentivize more EVER being staked. User earns a 20% APY staking with this method with rewards auto reinvesting.
Prerequisites
For starters, you need to own some EVER. Again you can buy EVER directly from Ever Surf or from popular centralized exchanges.
Secondly, you should download or work with a supported Wallet from the below list, we recommend using Ever Surf as we will use this for our tutorial.
Supported Wallets
Staking operations are supported by the following wallet solutions:
- Ever Surf – A free, private and easy blockchain interface for smart people
How to Stake EVER (Everstaking)
Step 1 – Creating your Ever Wallet
First, go to Ever Surf and create an EVER Wallet.
Once the wallet is created, activated, and funded click the “Everstaking” DeBot.
Here we can see a list of actions that include “Paste address” where we can paste desired DePool address (which can be found on the Everscale Staking Rewards Asset Profile) for which we want to stake with.
Step 2 – Picking your DePool
We can either find our desired DePool from the “See the Top 10″ option or we can use the ” Paste address” option and provide an address sourced from Everscale Staking Rewards Asset Profile.
Step 4 – Selecting the specifics of your staking of EVER
Once a DePool is selected you can see the information such as Lock-up period, Min. stake, Available pool, and Reward fee.
Once satisfied hit “Stake”
Step 5 – How much EVER do you want to stake
Further, you will enter the number of tokens to Stake, enter your amount and hit “Yes”
To broadcast the transaction to the blockchain hit “confirm”.
Step 6 – You are done staking EVER
Congratulations you have now staked your EVER and can sit back and watch the staking rewards start compounding!
The bot has a feature where you can tip it after completion, to support the developers hit “It’s excellent”, to avoid additional costs click “Didn’t like it”.
In any case, you are now staking and can later check on your stake or make withdrawals with consideration to the lockup period.
How to Stake EVER (Boosted Staking)
Step 1 – Creating your EVER Wallet
First, go to Ever Surf and create an EVER Wallet.
Once the wallet is created, activated, and funded click the “Boosted Staking” DeBot.
Click “Deposit”
Step 2 – Entering the amount of EVER you want to stake
Enter the amount of EVER that you want to Stake, keep in mind that the Boosted Staking option will pay a higher APY for a larger amount and lockup commitment. In our example, we are Staking 1,000 EVER.
Step 3 – Choosing your time Commitment
Here you can see the Boosted Staking advance reward structure based on the amount entered for Staking. In the example, we see between 1,000 – 9,999 for over a 2 year lockup period offers +11%
Next, choose the amount of time commitment and click. Consider the risks associated with long-term lockup periods.
Step 4 – Confirming your term and amount for staking EVER
Once satisfied with the term and amount click “Yes of Course” to move forward in the process.
This is a good time to review the information in the summary to make sure you have entered everything correctly.
Step 5 – Confirming your transaction for staking EVER
For the final step, you can Sign with Surf and click “Confirm” to broadcast the transaction to the blockchain and you can wait for the transaction to confirm.
Step 6
Congratulations you are now staking with Boosted Staking!
Once the transaction is confirmed you can now click “Show Stakes” to further get details and reward payouts from your staking contract.
In any case, you are now staking and can later check on your stake or make withdrawals with consideration to the lockup period.
Conclusion
The process for Staking EVER is extremely easy to understand for anyone used to selecting validators to delegate their stake. Staking rewards automatically accrue on your Stake Account at the beginning of each subsequent epoch and are automatically re-staked so you get the benefit of a compounding effect automatically. It is straightforward to monitor and manage your staking rewards by clicking into your “My Surf” balance and clicking on your “Savings” Account. In the following window, you can choose to “Show stakes” to see your rewards and stake status. The extremely low fees and fast confirmation times make this process thoroughly enjoyable. It is important to be aware of any lock-up times associated with your staking type. For more information on Everscale and to calculate your Staking Rewards visit the Everscale Asset Profile!