Polkadot, Staking, Guide, Vara Vara Staking Guide

<div class="kg-card kg-callout-card kg-callout-card-red"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">This guide outlines the steps to create a Vara Account and stake your assets in Vara. Contact us for those holding over 1M VARA to learn about special staking conditions.</div></div><h2 id="create-vara-account">Create Vara account</h2><p>To create a Vara account, use popular substrate-based wallets such as SubWallet, Talisman, or the Polkadot.js browser extension. For secure storage, consider Polkadot Vault. Note that Ledger support is not yet available. Being Substrate-based, Vara supports any keypair compatible with sr25519.</p><p><strong>Remember, your seed phrase is crucial for account access. If lost, you can restore your account with it, but if someone else gets it, they can access it. </strong>Store your seed securely on encrypted hard drives, non-digital devices, or ideally on paper, and protect it from physical damage. Never store it on an internet-connected device.</p><h2 id="staking-vara">Staking Vara</h2><p>Here's how to stake Vara tokens via the user-friendly staking dashboard at <a href="http://staking.vara-network.io/?ref=p2p.org" rel="noopener noreferrer">staking.vara-network.io</a>. Alternative methods include the Polkadot js <a href="https://wiki.vara-network.io/docs/staking/nominate?ref=p2p.org#via-polkadotjs-app" rel="noopener noreferrer">portal</a> and wallets like <a href="https://wiki.vara-network.io/docs/staking/nominate?ref=p2p.org#via-subwallet" rel="noopener noreferrer">SubWallet</a>.</p><ol><li>On the dashboard at <a href="http://staking.vara-network.io/?ref=p2p.org" rel="noopener noreferrer">staking.vara-network.io</a>, locate and click on the <em>Nominate</em> tab, then select <em>Start Nominating</em>. Before proceeding, check the minimum stake required for rewards in the dashboard's upper right corner to be eligible to earn rewards.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/12/Untitled-9.png" class="kg-image" alt loading="lazy" width="2000" height="889" srcset="https://p2p.org/economy/content/images/size/w600/2023/12/Untitled-9.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/12/Untitled-9.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/12/Untitled-9.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/12/Untitled-9.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>2.  Choose how you'd like to receive staking rewards:</p><ul><li><strong>Compound</strong>: Automatically send your rewards into staking.</li><li><strong>To Your Account</strong>: Transfer rewards directly to your account.</li></ul><p>Choose your preference and click <em>Continue</em>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/12/Untitled-10.png" class="kg-image" alt loading="lazy" width="2000" height="894" srcset="https://p2p.org/economy/content/images/size/w600/2023/12/Untitled-10.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/12/Untitled-10.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/12/Untitled-10.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/12/Untitled-10.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>3. In the next step, select <a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> validators:</p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text"><a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> validators are: kGjHi4aF1zDb2JT48MvbnewABfaNALErUmE37MA4mz3TPNDow kGihcNQrRgRLYuQDRJz8wdWNAi2ZXY47ythXqNn7xZJWXFsHU kGj8KXh6hsXu9qVK5ZbPsuuzp9dhRoGph5TkgMr7RfMVY4GLM kGiaJX7Q9BqL1paxJQ46Xg6XzSHKKsYThafPM3NL1VvtjXymT</div></div><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/12/Untitled-11.png" class="kg-image" alt loading="lazy" width="2000" height="902" srcset="https://p2p.org/economy/content/images/size/w600/2023/12/Untitled-11.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/12/Untitled-11.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/12/Untitled-11.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/12/Untitled-11.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>4. Finally, input the amount you wish to stake and confirm by clicking <em>Start nominating</em>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/12/Untitled-12.png" class="kg-image" alt loading="lazy" width="2000" height="888" srcset="https://p2p.org/economy/content/images/size/w600/2023/12/Untitled-12.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/12/Untitled-12.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/12/Untitled-12.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/12/Untitled-12.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>Staking will become active in the next 12-24 hours. You can monitor the status and effectiveness of your nominations from the same <em>Nominate</em> tab.</p><h2 id="staking-vara-via-nomination-pool">Staking Vara via nomination pool</h2><p>Vara offers a nomination pool system for smaller token holders, allowing you to earn rewards with a stake as small as 1 VARA.</p><p>In this guide, we will follow you on the steps to stake your Vara tokens using the most user-friendly way via the staking dashboard at <a href="https://staking.vara-network.io/?ref=p2p.org">staking.vara-network.io</a>. There are alternative ways to stake via Polkadot js <a href="https://wiki.vara-network.io/docs/staking/nominate?ref=p2p.org#via-polkadotjs-app">portal</a> and wallets (for example, <a href="https://wiki.vara-network.io/docs/staking/nominate?ref=p2p.org#via-polkadotjs-app-using-subwallet-browser-as-an-example">SubWallet</a>).</p><p>1. Click on Join on the Pools tab on the staking.vara-network.io dashboard.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/12/Untitled-13.png" class="kg-image" alt loading="lazy" width="2000" height="921" srcset="https://p2p.org/economy/content/images/size/w600/2023/12/Untitled-13.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/12/Untitled-13.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/12/Untitled-13.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/12/Untitled-13.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>2. Choose an active pool from the list to ensure you're eligible for rewards.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/12/Untitled-14.png" class="kg-image" alt loading="lazy" width="2000" height="921" srcset="https://p2p.org/economy/content/images/size/w600/2023/12/Untitled-14.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/12/Untitled-14.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/12/Untitled-14.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/12/Untitled-14.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>3. Enter the amount you wish to stake in the selected pool and confirm by clicking <em>Submit</em>.</p><div class="kg-card kg-callout-card kg-callout-card-red"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">Pool staking rewards are not claimed automatically. It would be best if you claimed them periodically.</div></div><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/12/Untitled-15.png" class="kg-image" alt loading="lazy" width="2000" height="921" srcset="https://p2p.org/economy/content/images/size/w600/2023/12/Untitled-15.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/12/Untitled-15.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/12/Untitled-15.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/12/Untitled-15.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>Like direct staking, pool staking will be operational within 12-24 hours, and you can track the progress in the <em>Pools </em>tab.</p><p>All credits for used materials belong to Vara Network; please refer to the official <a href="https://wiki.vara-network.io/docs/account/create-account?ref=p2p.org">guide</a> on how to create an account and <a href="https://wiki.vara-network.io/docs/staking/nominate?ref=p2p.org">guide</a> for staking for more detailed information.</p><h2 id="about-p2p-validator">About P2P Validator</h2><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $2 billion by over 10,000 delegators/nominators across 25+ high-class networks.</p><hr><p><em>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram chat</a> or contact Alex via</em> <a href="mailto:[email protected]">[email protected]</a><em>. We are always open for communication.</em></p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Stake DOT with us:</strong> <a href="https://p2p.org/polkadot?ref=p2p.org">https://p2p.org/polkadot</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>

Kamil Jakub Natil

from p2p validator