Everything you need to know about staking NERD!
***This is Phase 1. A future phase will see a custom UI and dashboard.***
Q: How is my reward calculated?
A: At present, your staking reward is based on the percentage of NERD you have staked (relative to the total amount staked by everyone).
Q: How do you fund the dapp staking rewards?
A: The bot that feeds the telegram channel NERD ALERTS! automatically buys NERD from TNM every hour (variations may happen). This alternates between 0.5 TN, 0.015 WAVES and 0.003 USDC. More will be added and amounts will be changed over time. We will also be using the node proceeds to add to the staking rewards after each payout. Currently the node pays out 90% to leases and the other 10% (minus payout fees) will be used to buy NERD to reward stakers.
Q: How do I stake?
A: See below
Q: How do I check my staking balance?
A: Hop on to our Telegram chat and type /steaking
Let’s begin with a few requirements:
- You must have a Turtle Network account / address. If not, go here and get set up.
- dApp URL – https://dapp-ui.turtlenetwork.eu/3Jz6b4J4cKzDqJu7eWZ1Ldx11JcPWtmPgoL
- Turtle Shell – This is the browser extension / wallet . You can find it on most app stores.
- A PC or MAC. This does not work well on mobile devices at the present time.
- Obviously, you’ll need some NERD Token to stake.
- Finally, you will need some TN for gas / fees. It costs 0.06 TN per contract invocation.
- To stake NERD, click the plus sign next to attach payment.Make sure you select NERD from the drop down and input how much NERD you want to stake. After you have done that, click Invoke and confirm it in Turtle Shell.
- To unstake you must use the entire value (8 zeroes). Example if you want to unstake 1000 NERD you need to type in 100000000000 rather than 1000. then click Invoke and confirm in Turtle Shell
- To claim your rewards simply click Invoke and confirm it in Turtle Shell.
- Most of you will never use this. This is only to be used if you want to add rewards to the dapp to be distributed to those people who are staking. If you feel generous feel free to add anytime.
