Use of the Cudos Staking Portal

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Staking is primarily a process of locking the CUDOS tokens, as a result of which the tokens are delegated to a particular validator. The delegators get rewards as their help in the conduction of operations of Ethereum Blockchain.

The Cudos portal allows a very easy process that can help you stake with a few clicks. The article explains the process.

Staking portal sections

The portal of staking has sections as follows;

Wallet

As shown in the picture below, the wallet section shows all the information regarding the Cudos balance and the rewards. It also displays the activities and the current exchanges, which may be used for buying the CUDOS tokens.

Staking

The staking section is to allow you to stake the CUDOS tokens, claim the rewards, and withdraw or unstake the tokens which you have staked. It allows you to claim all the rewards which you have gained by far.

Network

The section of Network is specifically designed to show information about the annual percentage rate which you would get. Along with it, it shows the total amount which you have staked and all the current validators which are on the network.

Validator

As described in the picture below, the Validator allows you with an option if you want to be an active validator; you can do so by sending a request. For having the required mainnet hardware, you must have at least 2,000,000 CUDOS.

For any inquiries regarding staking, you may click on the Help section.

Step by step guide about staking and claiming the rewards

In the following guide, we would show you staking, unstaking, and claiming the rewards with an amount of CUDOS. You will have to follow the steps below if you want to delegate your stakes and collect rewards afterwards.

Step 1: Installation of MetaMask

The first step is to install the MetaMask, and set up the wallet. As shown in the picture, select the ‘Ethereum Mainnet’.

If you have a ledger attached to the MetaMask then you would have to undergo the following steps,

Attach the ledger device.
Open the ETH wallet in the device.
Open the application settings.
Enable the option, smart contract data.
Make sure that when you click on any action, the wallet is open, and the ledger is accessible. Along with the data enabled.

Step 2: Get ETH in account

It is imperative for you to have some ETH in the MetaMask account. So, get some ETH in order to initiate using the staking portal.

Step 3: Connect your MetaMask account with the staking portal

Open wallet by clicking on the option of staking portal.
Select the account, and click on ‘Next’.
Lastly, click on ‘Connect’.

Step 4: Start staking

In the main menu, select Staking Tab
Choose Stake by clicking on it.
Choose the number of tokens that you desire to stake.
Choose a validator from the list for initiating the process of staking.
Confirm the amount and validator, by choosing the ‘confirm’ button.
This action would take you to the MetaMask for the confirmation of the transaction. You would have to verify two transactions for it.
Congratulations! The process of staking tokens is complete.

Step 5: Claim your rewards

After the completion of staking the tokens, go to the Staking option and choose the option, ‘claim rewards’. Keep in mind that you would have to wait for a while in order to see the collected rewards.

Choose the ‘select’ button and then click on ‘Confirm’ to get rewards.

Make sure to verify the transaction on Metatask.

Congratulations! You have received your rewards.

How to withdraw staked tokens

You can withdraw the tokens anytime, but you must know that it takes a period of 21 days for releasing the CUDOS tokens. It means that you would receive your tokens back in a time period of no less than 21 days.

Keep in mind that if you have unstaked some tokens and have not withdrawn the previously unstaked. The cycle would start from the very beginning, and the 21 days period would start from its beginning.

In order to submit a request for withdrawal, you would have to click on the staking tab and choose the 'unstake’ button.
Choose the validator and the number of tokens that you want to unstake, and then choose the ‘select’ button.
Choose the ‘confirm’ button in order to confirm the unstake request.
Hurrah! You have submitted the unstake request.
Now, after a period of 21 days, you would be able to withdraw the requested tokens. In order to do that, click on the Staking tab and choose the option “Your unstaked amount is ready to withdraw."
Choose the withdraw option to collect the untsaked tokens.

A peculiar case

A validator can either be active or inactive. Bear in mind that the stakes can only be delegated to the active validators. Maybe, in some instances, the validator becomes inactive; in such a scenario, the rewards earning would be put to a halt. In such a situation, you would have to transfer all of your staked tokens to an active validator. In order to do this, you would have to go to the Staking tab and find the associated notification. Finally, click on the arrow which must be present on the right side of the message.

After doing the above procedure, click on the inactive validator and press the ‘confirm’ button.

After the completion of the transaction, all of the tokens, either staked or unstaked, along with the pending rewards, would be received. In this procedure, you would not have to wait for 21 days for the tokens to be released.