How to Stake KLAY Using Kaikas Web Wallet

Klaytn is a one-of-a-kind enterprise-grade network that is already widely adopted by millions of users mostly in Asia and now aiming to conquer worldwide crypto markets. Klaytn is often called a blockchain for the metaverse or “the trust layer for the metaverse” (Klaytn Litepaper). The network characteristics include high TPS, immediate finality and a low fixed gas price driving the blockchain adoption. 

We are happy to announce that Everstake has recently joined the Klaytn blockchain as a validator in partnership with Jump Crypto. Public staking with our validator is available to all Klaytn delegators via Klaystation as of October 21.

Our validator offers the highest APR among the available public operators—do not lose the opportunity to earn up to 16% annual income with your KLAY.

Let’s cover KLAY staking via Klaystation step by step.

Read more in our article “Introduction to Klaytn Ecosystem and KLAY Staking“.

What Is Klaystation?

Klaystation is a staking tool built on the Klaytn Network. KLAY holders are invited to stake with Klaytn’s GC providers using this tool with an average APR of ~ 6-16%. 

To start staking, open Klaystation in your browser and install a compatible wallet (Kaikas or Klip) into your browser. 

Klaystation offers its users:

• A choice of available staking nodes. Select a staking provider of your choice considering the various reward rates and the provider’s background. Note: The Hashed-Ozys node offers sKLAY/KLAY staking while the other nodes offer KLAY staking only.
• A dashboard to check key staking metrics, such as an account status and transaction history, including staking/unstaking transactions.
• An explorer that provides a history of transactions processed by the Klaytn Network and a staking/unstaking status for a requested wallet address.

Public staking is currently available with four operators. Jump-Everstake is the only validator that offers the highest APR to delegators so far.

What Is the Kaikas Wallet?

Kaikas is a web browser extension wallet for the Klaytn Network advised by the official Klaytn Documentation. Available for Google Chrome, Naver Whale, and the new Microsoft Edge, Kaikas provides a secure and usable means to interact with the Klaytn Network via a web browser. With Kaikas, you are able to store and transact with your KLAY and Klaytn-based tokens. You can also sign requests from web-based dApps (decentralized applications) in real time. 

Note: Kaikas supports integration with the D’CENT hardware wallet, so users with Descent hardware wallets can connect them to use the Klaystation service.

Download the Kaikas wallet from Chrome Web Store.

Make sure you choose the official extension and add the app to your browser.

If you have questions, check the Wallet Help Center before using Kaikas. Once all permissions are set, you’ll see a confirmation of the successful installation.

Let’s get back to the Klaystation tool and press the Start the Journey button. Launch the Kaikas extension by clicking Connect Wallet in the top right corner of the window.

When launching the extension for the first time, you will be prompted to create a strong password. 

Create an account nickname. You will be able to edit it later in the Account Settings.

Feel free to check the Security Guide via the link in the app.

The next step is extremely important: record and store the seed phrase in a secure place (better on paper). 

Note: If you lose the seed phrase, you won’t be able to recover your funds. Do not expose your seed phrase and wallet login details to anyone to avoid theft. There is no way to recover your Kaikas wallet account if you forget your password or seed phrase or if you lose your private key.

Done. You can now buy, send, swap, and stake KLAY. Check the wallet dashboard for the main functions.

Your wallet address can be found in the top right corner of the app. Copy it to receive the KLAY tokens from a CEX or other account. Once you have KLAY in your Kaikas balance, it’s time to earn some passive income with your tokens. Let’s proceed to staking.

Why Stake KLAY?

Jump-Everstake offers the highest APR among the validators at the time of writing. That is simply explained by the size of the stake on various Klaytn nodes: the lesser the stake, the higher the reward rate. 

How to Stake KLAY?

Open the Klaystation dashboard, launch the Kaikas app, and log in.

Choose a staking provider and click the Staking button, but you are free to choose any node to delegate to. All four are highly reputable and professional validators.

Once the staking provider’s profile is open, click the STAKE NOW button to proceed.

Enter a staking amount within your wallet limit and then click the Confirm button. 

Approve the transaction to finalize the staking. 

The transaction result should become available in the History section of the Klaystation dashboard in a matter of seconds but, occasionally, it may take up to two hours.

How to Unstake KLAY?

On the list of operators within the main Klaystation dashboard, click Manage Staking next to the validator you stake with.

Click UNSTAKE NOW. 

Enter the amount of tokens you want to undelegate and confirm the transaction in the pop-up. Once done, you can track the transaction in the History section of the dashboard.

Note: Unstaking takes about seven days. You can track your transaction status in the History section. Once completed, your KLAY will be available for transfer or restaking.

Conclusion

Check your account status and staking rewards earned up to date in the user account on the Klaystation dashboard page. 

KLAY staking rewards are auto-compounded. This means they are added to your stake automatically. After unstaking, you will obtain both the tokens you initially staked and the rewards you earned.

Everstake validates 50+ blockchains, and we dedicate a team of community, DevOps, and R&D specialists to each of them. You also get your community representative with Everstake. 

Feel free to contact our Klaytn Blockchain Manager on Twitter.