NuCypher Threshold

Threshold Staking Guide

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The NuCypher Network has merged with the KEEP Network to form the Threshold Network. We have checked the official instructions and summarised all the steps required to stake T in this short guide.

If you have an existing NU/KEEP stake, you can withdraw it and then upgrade tokens to T and stake. However if you are subject to a vesting agreement, your unvested stake will not be immediately withdrawable, but you can still stake it in Threshold. You will find instructions in the second part of this guide.

How to stake T when you have liquid tokens (NU or KEEP)

1. If you have staked NU or KEEP you need to withdraw the tokens first. You can do it on NU dashboard or KEEP dashboard. Just follow the link, connect your wallet and click the withdraw button.

2. Upgrade your NU/KEEP tokens to T via the Threshold Network Dashboard. Connect your wallet and click “upgrade token”. It will ask you to enter an amount of NU/KEEP and convert it to T.

Notice that the vending machine contract uses a static conversion ratio and remains available indefinitely, so please be safe, take your time, and confirm everything!

3. Stake your T-tokens using the Threshold Dashboard. Click the stake button. You will see a pop-up with staking process details. Just fill in the check-box that you read the requirements, choose an amount of T for staking, and confirm the transaction.

The minimum stake amount is 40,001 T. The UI won't stop you if you try to stake less than 40,001 T. However, your staking tx will fail and you will have wasted the gas fee. Be careful.

4. The last step to start getting rewards  - bond your stake with a PRE node operator address.

If you have more then 3,000,000 T you may rent a ready-to-use node from P2P. Contact us via [email protected] or telegram @ztonnis. We will prepare and send your personal node address. After that, you should bond this node with your stake. Just connect your wallet, copy-past the received node address and click “Bond Operator”.

What does it mean to rent a node? Our dedicated DevOps team will do all the technical work for you. A nominated account manager will help with all your questions about the Threshold network.

We guaranty fast and quality 24/7 support. Our team has close connections with the Threshold team and deep technical expertise. We invested our own funds in the project in 2017 and intend to support the network in the long term.

To run the node we pay for robust infrastructure and a professional DevOps team. If you want to stake less than 3,000,000 T, it will be unprofitable for you to rent a node due to the fee. We want to keep an honest low fee for our clients and therefore set this minimum stake. However, you can still join your stake with somebody or run the node by yourself (if you have the technical knowledge and a free server).

That’s all. You will receive rewards denominated in the native T tokens. You can see the statistics and withdraw your rewards on the Threshold dashboard.

How to stake T when you have locked NU tokens

There are only 2 steps, to stake your locked NU tokens:

1. Stake your NU via NuCypher dashboard → stake. Note that the staking balance here differs from the number in the previous step. Its UI feature, 40,001 T on the bonding page equals 12,274 NU on the staking page (1 NU = 3.259 T).

There may be a UI bug on the threshold dashboard showing migrated stakes. You can use NuCypher dashboard to check it.

2. Bond your stake with a PRE node operator address as in the last paragraph above via NuCypher dashboard → manage operators.

About P2P

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 billion of USD value is staked with P2P Validator by over 20,000 delegators across 25+ networks. We are early NU investors committed to provide long term support for the network.

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

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