Polkadot

Polkadot‘s staking system is built for maximum security, decentralization, and fair representation. Stake DOT to helping support the network and protect your tokens against dilution

Polkadot

6.19 B

Market cap

Validator Address

158B1DyQ2Ep5b5G4akA2mjUJeDwgZZ4Sh1ePnkGgcWrgtPMs

Expected Rewards

15.79%

APR

Fees

Min Staking Period

28 days

Max Staking Period

No max

Delegated to us

2,029,446DOT

Payout Frequency

Once per era

Official Site

polkadot.network

DOT

Staking Guide

In this article we cover the best staking experience with the new Parity user-friendly web app: Staking Dashboard.

Nominating currently requires a minimum of 250 DOT staked on Polkadot. Make sure you are above that minimum or you won't be able to nominate.

First Steps

Create a Polkadot account if you don't have one yet. You can create a DOT account in any wallet that supports Polkadot. Here are some official methods:

The Polkadot.js browser extension ‍
Polkadot-JS UI ‍
Subkey (needs technical knowledge)‍
Parity Signer, recently updated to Polkadot Vault

It is recommended to create two accounts: one to use as the controller account and one to use as your stash account. Learn more about this here.

Go to the Staking Dashboard.‍

Connect your account in a browser extension on the "Connect" button in the top right corner. Ledger accounts can be added directly; please check this article for instructions.

Once you authorize the access, all accounts in the Polkadot extension will be imported to the dashboard and you can click on "Imported accounts" to select which account to connect.

If you already have Stash and/or Controller account(s) in your extension, the Stash-Controller pairs will show up under an "Actively Staking" section. Choosing either of these accounts will connect both.

After you connect the account you want to use as the stash, head over to the Nominate tab on the left menu.

Staking your DOT to SenseiNode validator

Click on the "Start Nominating" button. This will take you through a series of steps to complete staking with your account.

If you haven't performed the previous steps correctly, you will notice that this button is inactive. Ensure that your account is linked.

You need to select the reward destination, i.e., where your staking rewards will be sent. There are three options:

Compound: this option will send the rewards to your Stash account and add them to your current bond (compounding rewards).
To Your Account: this option will send the rewards to your Stash account as transferrable balance (not compounding rewards).
To Another Account: This option will send the rewards to any account you indicate as transferrable balance.

In the next step, you can select which validators to nominate. Add a validators from scratch by clicking on the "Manual Selection" option. Our validator adress is:‍

158B1DyQ2Ep5b5G4akA2mjUJeDwgZZ4Sh1ePnkGgcWrgtPMs

Now, enter the amount you want to bond/stake. Be sure to not bonding all the funds in your account because you will need some transferrable balance to be able to pay for future transaction fees.

In that step, you also see some interesting information that you need to take into consideration. The bar at the bottom shows whether the amount you have entered meets the two thresholds:

a. To nominate (the Nominate line)

b. To actively nominate and receive rewards (the Active line)

If your bond amount falls below the initial threshold, you will be unable to participate in nominations, and the app will prevent you from bonding. Currently, the limit for Polkadot is set at 250 DOT.

If your bond amount is above the initial threshold but below the second threshold, you can still bond, but your account will not be involved in the election mechanism, meaning you will not nominate any validators or receive rewards.

The second threshold is dynamic and subject to change over time. However, if you have completed all three sections, as shown in the image above, you can stake your funds and begin receiving rewards.

After entering the desired bond amount and selecting Continue, a summary will be displayed. Review the summary and click on "Start Nominating" to stake your funds.

To finalize the process, sign the extrinsic. Once the extrinsic is sent to the network, you will be redirected back to the Nominate tab, where you can view all the specific information about your stake, and that's it!

You are now staking

DOT

Monitor your Stake and Stay in Touch!

If you'd like to keep in touch with us after your validator activation, leave your DOT public address and any contact info of your preference in the form below.

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