This guide outlines the steps to create an account on Polkadot and stake your assets in Vara. For those holding over 1M VARA, hover on the chat bubble at the bottom right to learn about special staking conditions.
Create Vara account
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.
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 your account. 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.
Staking Vara
Here's how to stake Vara tokens via the user-friendly staking dashboard at staking.vara-network.io. Alternative methods include the Polkadot js portal and wallets like SubWallet.
On the dashboard at staking.vara-network.io, locate and click on the Nominate tab, then select Start Nominating. Before proceeding, check the minimum stake required for rewards in the dashboard's upper right corner to be eligible to earn rewards.
Choose how you'd like to receive staking rewards
Compound: Automatically send your rewards into staking.
To Your Account: Transfer rewards directly to your account.
Choose your preference and click Continue.
In the next step select P2P.org validators
P2P.org validators
kGjHi4aF1zDb2JT48MvbnewABfaNALErUmE37MA4mz3TPNDow kGihcNQrRgRLYuQDRJz8wdWNAi2ZXY47ythXqNn7xZJWXFsHU kGj8KXh6hsXu9qVK5ZbPsuuzp9dhRoGph5TkgMr7RfMVY4GLM kGiaJX7Q9BqL1paxJQ46Xg6XzSHKKsYThafPM3NL1VvtjXymT
Finally, input the amount you wish to stake and confirm by clicking Start nominating.
Staking will become active in the next 12-24 hours. You can monitor the status and effectiveness of your nominations from the same Nominate tab.
Staking Vara via nomination pool
For smaller token holders, Vara offers a nomination pool system, allowing you to earn rewards with a stake as small as 1 VARA.
In this guide, we will go follow you on the steps on how to stake your Vara tokens using the most user-friendly way via the staking dashboard at staking.vara-network.io. There are alternative ways to stake via polkadot js portal and via wallets (for example, SubWallet).
Visit the Pools tab on the staking.vara-network.io dashboard and click on Join.
Choose an active pool from the list to ensure you're eligible for rewards.
Enter the amount you wish to stake in the selected pool and confirm by clicking Submit.
💡 Pool staking rewards are not claimed automatically. You need to claim them periodically.
Like direct staking, pool staking will be operational within 12-24 hours, and you can track the progress in the Pools tab. **
All credits for used materials belong to Vara Network, please refer to the official guide on how to create an account and guide for staking for more detailed information.
For more information on staking Vara (VARA) with P2P.org, visit https://p2p.org/networks/vara.
For additional staking support, visit the P2P VARA Help Centre.
You can also get in contact with a live agent by selecting the speech bubble at the bottom right of this page, sending a message to the Telegram bot, or emailing [email protected].