Mina Staking Guide: Stake MINA Using Clorio Wallet

Alex Bondar -

 

Clorio wallet is in beta version with an open sourced codebase. It is highly recommended to verify the checksum of the application if using a desktop version.

Mina is a lightweight, highly efficient blockchain allowing network participants to seamlessly join the network to verify and secure the chain. On the Mina blockchain you can stake your MINA tokens to earn staking rewards - currently up to 24% APY.

The following guide walks you through Mina staking using Clorio wallet. Clorio is a Mina specific wallet which lets you store, send and stake your Mina tokens.

Staking Mina Protocol (MINA): Video Guide

Staking MINA Using Clorio

For more information, follow the steps below.

  1. Creating a Mina Wallet
  2. Staking Mina using Clorio

 

1. Creating a Mina Wallet

It is possible to access Clorio using Ledger wallet if you have installed the Mina app.

  1. Visit mainnet.clor.io and press Create wallet. Select your preferred way of accessing the wallet.

2. Save your private key in a safe place. Download a PDF paperwallet and press Continue.

3. Verify your private key and press Continue.

4. Transfer Mina to your address. Note that for the first transaction, 1 MINA will be taken by the protocol as a wallet creation tax.

Your Mina wallet is now live and you can manage your Mina assets on the blockchain.

2. Stake your MINA tokens with P2P

To stake your MINA tokens and earn staking rewards, follow the steps outlined below.

  1. Access your wallet if needed and go to the staking hub. Select P2P Validator and click Delegate.

2. Confirm the action.

3. Set the transaction fee and click Proceed. In most cases you can use a default value. It is possible to check feenow.minascan.com to see the current state.

4. Confirm the transaction using your Private Key.

5. After the confirmation you will be able to see your current delegation. Also, you can go to the overview tab to check the transaction status.

Congratulations! You have successfully delegated MINA to P2P Validator. You will now start earning regular staking rewards.

Each block producer has own payout conditions, manually distributing staking rewards. Your delegation will start participating in the consensus after the next epoch (1 epoch is ~15 days). If you delegate from a locked account it is recommended to create a separate address, periodically transfer rewards and delegate from there as well. It increases the chances of receiving a supercharged coinbase (double block reward) benefitting all delegators of a particular pool.

If you have any questions, please feel free to join our Telegram chat. We are always open for communication.

About P2P Validator

P2P Validator is a world-leading staking provider with the best industry security practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities. At the time of the latest update, more than $3.2 billion is staked with P2P Validator by over 10,000 delegators across 25+ networks.

We are actively involved in Mina staking since the first testnet being an early genesis member and mainnet seed peer provider.