Work with native coins

Intro

By placing your native network coins on a multistaking contract, you receive similar liquidity tokens in a 1:1 ratio.

This way, you can earn rewards on Klyntar (helping to decentralize the network) and at the same time continue to use the tokens in DeFi applications, lending protocols, etc.

In this tutorial we will show how to multistake the native coins on EVM chains - ETH, AVAX, BNB, TRON etc.

You can repeat the multistaking process through the interface on our website:

KLYNTAR

1. Stake native chain coins to get liquidity tokens back and earn staking points

Visit the page

You will see the following interface

Now select the chain and wallet to connect

In this tutorial we'll work with Sepolia network (Ethereum testnet)

Right after connection you will see how much you already multistaked on appropriate contract in dollar equivalent

Choose the appropraite operation Deposit and token to stake - in this case native coin of network

The next steps:

Input amount - let's say you want to stake 0.01 Sepolia ETH
Choose the pool from list

Finally - just press Deposit and confirm the transaction from your wallet extension

What is under the hood 🤔

Let's check the explorer to see what transactions are actually called and what happens in detail. As you can see, we transferred 0.01 SepoliaETH and received 0.01 KETH(KlyntarETH) back.

So, what you have

At this stage you have:

0.01 KETH already on your balance - it's ERC-20 token which is 1:1 to native network coin. This avoids freezing liquidity. You can continue to use your KETH in DeFi applications or simply continue to HODL
At the same time, the pool you staked on will share some of its rewards with you. With your staking points, you increase the pool's chance of being elected to a quorum and/or generating blocks.