Work with ERC-20 tokens

Intro

By placing your ERC-20 tokens 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 Chainlink ERC-20 token in Sepolia testnet, but the same way it works for any other ERC-20 tokens that will be supported by our network.

To get the list of supported ERC-20 tokens - check the docs:

Full list of supported assets

Or via the form on our site:

Klyntarklyntar.org

1. Stake ERC-20 token to get liquidity tokens back and earn staking points

Visit the page

You will see the following interface

Now select the chain and press Select wallet

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 ERC-20 token of Chainlink project:

https://sepolia.etherscan.io/token/0x779877a7b0d9e8603169ddbd7836e478b4624789sepolia.etherscan.io

Input amount of tokens and choose the pool to stake on

Transaction details

Two subactions occured during transaction:

1. You transfer 10 LINK tokens to multistaking contract

2. You receive 10 KLINK (Klyntar LINK) tokens back to avoid liquidity freeze

After 3 epochs your address will appear in the list of stakers for the selected pool

From now you have successfully finish the staking process. You will now receive rewards from the pool you staked on.

2. Unstaking ERC-20 to burn our liquidity token and get back you original tokens

To unstake - press Unstake, choose the token, input amount and finally the pool

As before - the unstaking process takes 3 epochs and initially the stake will be placed in the withdrawal requests

3. Final step - withdrawal

It's time to get your original tokens back. Select Withdraw and press a button to initiate the transaction

If you check via explorer, you will notice that within this transaction, the multistaking contract returned 10 original Chainlink tokens back to your address.

FAQ

How to unstake from multiple pools

TODO