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How to stake SKALE (SKL) using the Activate platform via MetaMask

The Activate platform now supports SKALE staking, so holders can register an account and stake SKL tokens using the Metamask wallet. This guide will show you how to do it.

Before you start

 

You need to pay for each transaction: staking, claiming, or unstaking. Therefore, before staking, make sure you have enough ETH in your wallet so that you can cover the fees.

If you do not have SKL tokens in your wallet yet, we have prepared a short instruction on how to swap ETH to SKL. This instruction will work for other tokens as well if you want to exchange them.

How to get SKL tokens 

 

By following these simple steps, you can quickly and easily exchange ETH or tokens for SKL.


1. Launch your MetaMask wallet and open the Swap section. Then select a cryptocurrency pair (in our case - ETH-SKL) and click Review Swap.

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  1. Check the details of the transaction before signing it and make sure there are sufficient funds in the wallet. If everything is in order and you are ready to start the exchange, click Swap.

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  1. The transaction has been completed. The confirmation can take from a few minutes to several hours, depending on the current state of the network and how much you paid for Gas. As soon as the transaction is confirmed, you can proceed to staking.

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Create an account on the Activate platform

 

  1. Launch the Activate application and click Sign Up in the upper right corner or Create Account next to the “New to Activate?".

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  1. Then enter your credentials: first name, last name, country of residence, email and password. Then accept the terms of the user agreement and click Confirm.

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  1. Done. You will receive an email with a link to confirm your registration. Follow it to complete the registration process on the Activate platform.

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Connect the wallet

 

Now you need to connect the MetaMask wallet - it is used to confirm the transaction when you delegate SKL tokens. Follow the instructions below.

 

  1. In your profile, click the button Connect Wallet  located in the upper right corner.

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  1. A list with possible options for connecting to the Activate platform will open. Select MetaMask and then log into your wallet.

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Select a validator

 

Validators are the nodes to which you delegate tokens. They check transactions for validity and add them to blocks. But that's not all: they are primarily responsible for network consensus and security. Therefore, it is important to choose a reliable validator, one of which is Everstake.

 

  1. In the Activate control panel, go to the tab Staking.

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  1. A list of available validators to which you can delegate tokens will open. Select the required validator from this list, for example, Everstake and click Stake. You can familiarize yourself with the conditions set by the validator by clicking on its icon.

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  1. Review the Validator Workflow, which explains how staking works in SKL, and click Continue to move on to delegation.

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Delegate tokens 

 

All that’s left is the last stage - staking. We remind you that you must have enough ETH in your wallet to pay for Gas. If you have enough coins, keep staking.

 

Note. It is best to delegate 5 to 7 days before the start of the next epoch. In addition, the delegation period will continue for 2 months. This period cannot be changed - additional options will be available in the future.

 

  1. You will need to select the amount of SKL tokens for staking. The staking period is automatically set to 2 months. This period cannot be changed yet. Enter it in the field as shown in the screenshot below and click Continue.

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  1. Once you have staked SKL, you will not be able to manage them for two months, but the coins are still yours and the validator cannot access them.

You can cancel the transaction at any time until the validator confirms it. The transaction will be confirmed before the start of the next epoch. Read the terms of service, confirm that you agree with them, then click Delegate N SKL to Everstake to continue.

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  1. Confirm the transaction in your MetaMask wallet. The extension will automatically open a window for signing the transaction.

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  1. Click Confirm to stake SKL. Make sure that there is enough Gas to pay the commission so that the transaction does not hang in an unconfirmed state for a long time.

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  1. The transaction is confirmed. This may take a few minutes.

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  1. Once the transaction is confirmed, you will see the message shown in the screenshot below. After that, you can close the window and return to the Active platform interface.

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Control Panel

 

In the Token Inventory section you can track your staking statistics:

 

  • How many SKL are unlocked;
  • How many tokens are pending;
  • How much SKL you have staked;
  • What amount of awards were accrued.

 

Auto-Renew re-delegates tokens after the original staking period (2 epochs / 2 months) for the same validator. The rewards will be credited every month and will be visible on the right side of the "Claimable SKL Rewards" screen. You also need to pay Gas for claiming.

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Congratulations! You have successfully stacked SKALE and now you know how to do it in the future.

 

Read and subscribe to our blog Everstake for other helpful guides and information on blockchain updates!

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