Work with native coins
Last updated
Last updated
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 restake the native coins on EVM chains - ETH, AVAX, BNB, TRON etc.
You can repeat the multistaking process through the interface on our website:
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 restaked 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 restake 0.01 Sepolia ETH
Choose the pool from list
Finally - just press Deposit and confirm the transaction from your wallet extension
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.
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.
Your stake will not become active immediately - the activation time currently takes 3 epochs - which is equivalent to 3 days.
After a while, you can go to the page of the pool you staked on and find yourself in the list of stakers
So you have 0.01 KETH and you want to get your original SepoliaETH back.
Choose Unstake and input all the required data
The field with amount will show you have much you can unstake
During the unstaking process, you burn the wrapped KETH token and release your real SepoliaETH tokens
The unstaking time also takes 3 epochs, so initially your stake gets into withdrawal requests
Choose Withdraw section and press a button to initiate a transaction
After that you will finally get your original coins back
