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:

Klyntarklyntar.org

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:

1. Input amount - let's say you want to stake 0.01 Sepolia ETH

2. 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:

1. 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

2. 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.

Wait 3 epoches to make your stake active

Your stake will not become active immediately - the activation time currently takes 3 epochs - which is equivalent to 3 days.

Check the stakers list

After a while, you can go to the page of the pool you staked on and find yourself in the list of stakers

2. Unstaking these liquidity tokens to get back your real ETHes, BSCs, AVAXes, etc.

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

Unstaking details

During the unstaking process, you burn the wrapped KETH token and release your real SepoliaETH tokens

Wait for a while to release your stake

The unstaking time also takes 3 epochs, so initially your stake gets into withdrawal requests

3. The last step - withdraw your stake

Choose Withdraw section and press a button to initiate a transaction

After that you will finally get your original coins back

FAQ

How to unstake from multiple pools immediately

TODO