User needs to connect StaFi rKSM App and PolkadotJS wallet when staking KSM, currently PolkadotJS wallet only supports Chrome and FireFox explorers, user could download this wallet by the following links:
When you stake KSM through StaFi rKSM App, StaFi accounts and Kusama 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 "Kusama Relay Chain" when importing Kusama accounts, and select "StaFi" when importing StaFi accounts.
Enter this page: https://app.stafi.io/rKSM/home, 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 Kusama and StaFi chains when staking KSM, the user needs to select the Kusama account and StaFi account respectively.
1) Click "KSM" in the upper right corner of the screen, select the KSM 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 KSM on the "Staker" page, and click "Stake".
Transferable KSM: shows the amount of KSM 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 rKSM: shows the amount of rKSM token that the user could get based on the current exchange rate and the amount of staked KSM.
Relay Fee: shows the cross-chain interaction service fee charged by the relay bridge nodes, the total amount charged is 2x of the actual contract interaction gas fee.
2) After clicking "Stake", the detailed delegation steps will be shown in right notification column:
Sending: send the KSM that will be staked into the StaFi rKSM contract account on Kusama chain.
Staking: The StaFi rKSM contract account delegates the KSM tokens to the best Original Validators.
Minting: Staking process is ended and rKSM tokens are minted.
The deduction of commission:
Sending: the gas fee charged by Kusama network is deducted from the Kusama account.
Staking: the Relay Fee is deducted from the FIS account.
Minting: no commission is deducted.
Note: Please be sure that you have a few balances both in Kusama and StaFi accounts.
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 Kusama chain.
Signature account: Kusama account
The second signature: Considering that the information on the Kusama chain is open and transparent, anyone could obtain the transaction information and upload it to the StaFi chain to mint rKSM. 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: Kusama account
The third signature is to send the transaction information on the Kusama chain to the StaFi chain. After it is verified by the StaFi chain, users will receive rKSM 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 KSM and minted rKSM , and the exchange rate of the rKSM/KSM.
Click "Stake" to continue staking KSM.
Click "Trade", you could enter into the "Uniswap" rKSM/ETH trading page.
1) Click "Redeem" on the "Status" page, enter the number of rKSM, and the system will calculate the amount of redeemed KSM based on the current exchange rate.
Confirm the address of receiving KSM. 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 rKSM, unbonding commission (it is set as 0.2% of unbond rKSM in the early stage), Relay bridge fee, unbonding period, and the number of KSM you could get.
After confirming that it is correct, click "Unbond".
3) After the signature is completed, the amount of staked KSM and unbonding KSM will be displayed on the "Status" page.
After the unbonding period is ended, the user does not need to withdraw it manually, and the KSM tokens will be automatically sent to the designated address.