User needs to connect StaFi rDOT App and PolkadotJS wallet when staking DOT, Currently PolkadotJS wallet only supports Chrome and FireFox explorers, user could download this wallet by the following links:
When you stake DOT through StaFi rDOT App, StaFi accounts and Polkadot accounts are both needed to be used and imported into the PolkadotJS wallet in advance. The importing entrance is shown in the screenshot below:
Note: In order to make the Substrate account accurately display the address on each chain, please select "Polkadot Relay Chain" when importing Polkadot accounts, and select "StaFi" when importing StaFi accounts.
Enter this page: https://app.stafi.io/rDOT/type, click "Connect to Polkadotjs", and select "Yes, allow this application access" in the pop-up interface and then connect successfully.
Note: Because of the cross-chain interactions of Polkadot and StaFi chains when staking DOT, the user needs to select the Polkadot account and StaFi account respectively.
1) Click "DOT" in the upper right corner of the screen, select the DOT account and click "Confirm".
2) Click "FIS" in the upper right corner of the screen, select the FIS account and click "Confirm".
Note: the commission will be paid by FIS token during the delegation operation, please be sure that you have a few FIS token balance.
1) Enter the amount of DOT on the "Staker" page, and click "Stake".
Transferable DOT: shows the amount of DOT that can be transferred.
Estimated APR: shows the estimated Annualized Staking Reward rate, and it will increase along with the staking rewards generated.
You will get rDOT: shows the amount of rDOT token that the user could get based on the current exchange rate and the amount of staked DOT.
Relay Fee: shows the cross-chain interaction service fee charged by the relay bridge nodes.
2) After clicking "Stake", the detailed delegation steps will be shown in right notification column:
Sending: send the DOT that will be staked into the StaFi rDOT contract account on Polkadot chain.
Staking: The StaFi rDOT contract account delegates the DOT tokens to the best Original Validators.
Minting: Staking process is ended and rDOT tokens are minted.
The deduction of commission:
Sending: the gas fee charged by Polkadot network is deducted from the Polkadot account.
Staking: the Relay Fee is deducted from the FIS account.
Minting: no commission is deducted.
Note:Please remember to keep a few DOT and FIS tokens in your wallet to pay for the related transaction fees. Also note that your DOT balance should be better more than 1 DOT to keep your Polkadot account alive, otherwise you may not succeed to stake DOT with StaFi.
In addition, User needs to sign three times. Please pay attention to the account that initiates signature.
The first signature: user signs for the transaction on the Polkadot chain.
Signature account: Polkadot account
Second signature: Considering that the information on the Polkadot chain is open and transparent, anyone could obtain the transaction information and upload it to the StaFi chain to mint rDOT. Therefore, before sending the transaction information to StaFi chain, it is necessary to reconfirm the ownership of the transaction to ensure the security.
Signature account: Polkadot account
The third signature is to send the transaction information on the Polkadot chain to the StaFi chain. After it is verified by the StaFi chain, users will receive rDOT tokens.
Signature account: StaFi account
3) View the delegation data
Check the delegation data on the "Status" page: this page displays the amount of staked DOT and minted rDOT , and the exchange rate of the rDOT/DOT.
Click "Stake" to continue staking DOT.
Click "Trade", you could enter into the "Uniswap" rDOT/ETH trading page.
1) Click "Redeem" on the "Status" page, enter the number of rDOT, and the system will calculate the amount of redeemed DOT based on the current exchange rate.
Confirm the address of receiving DOT. If you want to change the account, click "Edit"to change it.
Click "Unbond" to start the redemption operation.
2) Confirm the following information on the pop-up page:
The number of unbonded rDOT, unbonding commission (it is set as 0.2% of unbond rDOT in the early stage), Relay bridge fee, unbonding period, and the number of DOT you could get.
After confirming that it is correct, click "Unbond".
3) After the signature is completed, the amount of staked DOT and unbonding DOT will be displayed on the "Status" page.
After the unbonding period is ended, the user does not need to withdraw it manually, and the DOT tokens will be automatically sent to the designated address.