Staking DOT with StaFi
How to Stake DOT with StaFi
Required Wallets
PolkadotJS wallet:
- Install the PolkadotJS wallet extension for Chrome (opens in a new tab) or Firefox (opens in a new tab).
- Once installed, follow the prompts to create or import your wallet.
Go to DOT staking page
Click the "Stake" button to access the DOT staking page (opens in a new tab).
Connect Wallet
Click on the “Connect Wallet” button to connect your PolkadotJS Extension wallet.
Select Polkadot Wallet
Switch to your Polkadot Wallet from the drop-down list shown.
Input staking amount
Enter the amount of DOT you would like to stake. Review the amount of rDOT you will receive and the Annual Percentage Rate (APR) for staking. Click the "Stake" button to proceed.
Note: The minimum staking amount required is 0.005 DOT.
Confirm transaction and await for confirmations
Upon clicking “Stake”, you will be redirected to your PolkadotJS Extension wallet. Review the transaction details, and click on the "Sign the transaction" button to sign the transaction. Wait for the transaction to be confirmed and the staking operation to be completed successfully.
Track Rewards
Monitor your staked DOT and its rewards by visiting your Profile (opens in a new tab).
The rDOT Token
StaFi Explorer: https://polkadot.subscan.io/ (opens in a new tab)
Additionally, rDOT holders can participate in liquidity mining. To learn more about this opportunity, please visit this page (opens in a new tab).
Commission Fee
10% of DOT staking rewards and 0.2% redemption fee will be allocated to StaFi DAO.
Unstake
Go to DOT unstaking page
Visit the DOT unstaking page (opens in a new tab), and proceed by clicking on the "Unstake" tab.
Input unstaking amount
Enter the desired amount of rDOT you would like to unstake, and proceed by clicking on the "Unstake" button.
Confirm transaction and wait for confirmations
After clicking "Unstake," you will be redirected to your PolkadotJS Extension wallet.
Confirm the transaction details, including gas fees. Click the "Sign the transaction" button to sign the transaction.
Wait for the transaction to be confirmed and the unstaking process to be completed successfully.
Note: Unbonding rDOT takes 29 days. DOT will be sent to your wallet after the unbonding period has ended.
