Staking Functionality in WTC Wallet
To increase transparency and decentralization, staking functionality goes live on Waltonchain mainnet in the decentralized Waltonchain Wallet at 5:00 PM (UTC+8) on May 23, 2022. For the time being, the reward algorithm from WTA App is used; however, rewards update every second compared to every day in WTA App. Choose the staking period you like and earn WTA!
In WTA App, deposits and reward calculation will be disabled in 2 months. Before then, staking rewards will remain the same.
✅ Stake $WTC
✅ Earn $WTA rewards
⬇ We’ve also created a manual for users unfamiliar with staking.
WTC Staking Manual
In this manual, you get to know how to stake WTC tokens on Waltonchain using Waltonchain Wallet.
Create Wallet
1. Install the wallet
2. Tap “Create Wallet” or “Import Wallet”
3. Create Wallet: enter your wallet name and password, tap “Create,” write down your mnemonic words. Keep the mnemonic words safe! Any person who has them can access and manage your assets!
4. Import Wallet: Enter the mnemonic words of your existing address, tap “Import Wallet,” enter the password for these mnemonic words.
You can also import addresses using a private key. See the figure below. Tap “Import Wallet” and enter your private key.
Congratulations! You created/imported an address in Waltonchain Wallet. If you know how to operate a wallet address, skip straight to Staking, stake your WTC and get rewards. If you don’t know how to operate a wallet address, please see Send & Receive WTC and then stake your WTC to get rewards.
Send & Receive WTC
Send WTC
1. Open your Waltonchain Wallet and tap “Send.” You can choose the asset to send: WTC or WTA.
2. To send assets, you will need the receiver’s address (public key). It can be a QR code or a character string.
3. Enter the amount to send.
4. Before sending, please check the receiver’s address carefully, especially when you copy and paste the address. Transactions are irreversible.
5. Tap “Next” to start the transaction. You have successfully sent your crypto.
Receive WTC
1. Open Waltonchain Wallet and tap “Receive.”
2. Share your address (public key) with your counterparty. You can share it as a QR code or a character string.
Anyone who has your address (public key) can send you crypto.
Staking
- Tap “DApp” and “My DApp.”
2. Tap “Staking” and “Go to Staking.”
Enter the WTC quantity you would like to stake, choose the staking period and tap “Confirm.” The reward algorithm from WTA App is used; however, rewards update every second compared to every day in WTA App.
Staking rewards formula:
My Hash Rate = Lock-up Amount × Time Coefficient
Rewards Per-second = My Hash Rate / Total Hash Rate × 20,000 WTA/86400
3. Tap “My Staking Orders” to see all your staking orders.
4. When you have claimable rewards and wish to claim them, tap “Harvest.”
You have successfully staked WTC and started to earn rewards. After your staking period ends, you will get your WTC back automatically.
