How to stake SKALE on MEW wallet app
Don't have MEW wallet app? Find more information and download the app here: https://www.mewwallet.com/
*Currently SKALE staking is only available on iOS*
In order to stake SKL tokens, you will need SKL in your wallet. For help swapping for SKL, please refer to our article on swapping your crypto.
Step 1: Access your wallet and click the 'Earn' tab found toward the bottom of the MEW wallet home screen. Once that opens, click on 'SKALE Network token staking'.
Step 2: Review the information about staking your SKL. There are two videos at the top with additional helpful information. Click on 'Start staking' at the bottom.
Step 3: Enter the amount of SKL you would like to stake at the top of the screen. Confirm the amount by pressing the button at the bottom of the screen. Please note that all rewards are approximate monetary values.
Step 4: Review the disclaimer about the risks of staking.
Step 5. Double-check the information.
Step 6: Confirm each detail of the transaction by tapping on the circle to the right of it. It will turn green with a check mark once you have tapped it.
The amount of SKL you are staking
Confirmation that your assets will be locked until the next staking period begins
Confirmation that your staking will automatically renew unless canceled.
Step 7: Choose your transaction speed and then click on 'Confirm' at the bottom.
Step 8: Remain on this screen while the system processes.
Step 9: When you see the check mark, your staking request has been submitted.
Step 10: From the SKALE screen you are able to check on the status of your request.
Step 11: Tapping on Sending staking request will give you additional information, as well as the option to speed up your transaction.
Step 12: You will then need to wait for validator approval. The status will be displayed on the SKALE screen.
Step 13: Your status will change to approved on the SKALE screen once your request has been approved.
Step 14: Your status will then change to 'waiting for staking to start' which begins on the first of the month for the staking period. Congratulations, you have successfully staked your SKL!
Step 15: Tapping on 'Waiting for staking to start' will give you staking details as well as the option to cancel your staking request.
Step 16: If you choose to cancel your staking request, tap on 'Cancel staking request' and then confirm at the bottom of the screen.
NOTE: Depending on how close it is to the staking period you may be unable to cancel your request. If this is the case you will be presented with the following screen.
Claiming you SKL rewards
Once a staking period has come to an end, you will be able to claim your rewards for staking your SKL.
Step 1: When you have rewards available to claim for staking they will be displayed on the SKALE screen. Tap claim to begin claiming your rewards.
Step 2: Select which account you would like to send your SKL rewards to, set a transaction speed, and then tap confirm at the bottom.
Step 3: Remain on this screen as the transaction is processed.
Step 4: Wait for the check mark to be displayed.
Step 5: Pat yourself on the back, you have successfully claimed you rewards while also helping to secure the SKALE Network. Way to go!
Canceling SKALE staking auto-renewal
SKL staking automatically renews each staking period unless you turn off the automatic renewal.
Step 1: From the SKALE screen, check the renewal status of your stake in the bottom right.
Step 2: If you indeed which to cancel the auto-renew, tap on 'Staking is active'.
Step 3: You will then be presented with information on stopping your staking. Tap the button 'Stop staking' to begin the process of stopping you staking.
NOTE: If it is too close to the staking period, you will be presented with a screen informing you that you will need to stop the auto renew during the next staking period.
Step 4: Tap the circle next to the confirmation on the unlock period to make it a check mark and then select confirm at the bottom.
Step 5: You have successfully stopped your stake from automatically renewing. To double check, from the SKALE screen look in the bottom right. If you were successful it should read that Auto-renew is 'off'
If you have any questions or need further assistance, our support staff can be reached in the chatbox to the right!
mewwalletios, dapp, skale