How to Delegate MINA and earn interest using Clorio wallet?
Important notice: Although Clorio wallet is an open-source project, it is still undergoing some developments and audits. The open-source version is yet to be released. Please check this space for the update on audits.
Update1: Clorio wallet has been successfully audited and open-sourced. Verify the audit here.
Delegating your MINA tokens will not only improve the decentralization, scalability, and security of the Mina Protocol but will also earn you extra MINA as a reward.
The inflation rate of MINA during the first year is very high. Nealy 24% if you are holding unlocked tokens. So, if you have participated in the CoinList sale or you have unlocked MINA, you are eligible to get 24% APY on your MINA. If you are holding locked tokens, APY will be standing around 12%.
So, don’t lose this opportunity.
Delegate your MINA using Clorio wallet in 3 simple steps:
In case if you are facing any issues following the below steps or noticed something has been altered in the process, please feel free to reach out to me using the contact details here.
STEP 1 | Create a new wallet using Clorio
- Head to Clorio official website and select “Clorio Mainnet ”.
- Click “Create a wallet”.
- The wallet address and private key will be automatically generated. Please save them in a secure location. Alternatively, you can also click the “Download a copy here” link to save the details in PDF format. Do not share your private key with anyone.
- Proceed to the next screen and input your private key generated in the previous step and click continue.
STEP 2 | Deposit MINA
- If you already have a MINA wallet with public & private keypair holding mina tokens, you can directly access the wallet from Clorio in step-1 by clicking “Access with private key” instead of creating a new wallet, you can also skip this step and proceed with step-3.
- But if you are having Mina tokens in an exchange like CoinList, then you should follow this step and deposit the Mina tokens to the newly created Clorio wallet.
- Send your Mina tokens from the exchange to the Clorio wallet address as shown in the below image.
4. Crosscheck if the deposited MINA is visible in the Clorio wallet dashboard.
STEP 3 | Delegate MINA
- Click “Staking Hub” on the left sidebar.
- There are two ways you can delegate your MINA, either you should select “Custom delegation” and enter the public key of your preferred block producer [OR] Choose your preferred block producer from the validators list available and click the ‘Delegate’ button”.
3. FYI, we are one of the highest uptime block producers, and we offer mina delegation at a very competitive fee — a flat 1%. To know more about our terms, please visit https://www.stakeyourmina.com/.
4. If you want to delegate your MINA to us, please feel free to use our below details for delegation.
5. After selecting your desired validator, now “Confirm” the delegation and proceed with the delegate transaction.
6. For broadcasting the delegate transaction, you have to pay the network fee in MINA, feel free to select either “Average” or “Fast”. I would advise going with “Fast” so that your delegate transaction will get almost instant confirmation.
7. To send the delegate transaction, enter your private key and click “Confirm”.
8. Depending on the network load, you should see a notification in a few seconds — minutes saying that “Delegation successfully broadcasted”.
Congratulations!! You have successfully delegated your MINA! :)
Mina protocol does not automatically pay out rewards to delegators, block producers will receive the block rewards+fees and it is the responsibility of the block producer to send the rewards to the delegator.
We will manually payout rewards to delegators. You’ll receive your rewards at the start of a new epoch. This means, at the start of the 2nd epoch, you’ll receive the rewards of the 1st epoch and likewise. And rewards will be sent twice a month because each epoch will last at least 14 days. Feel free to contact me if you need any further clarifications.
Please find my contact details and delegation terms here @ https://www.stakeyourmina.com/
Thanks for your time, and please don’t hesitate to contact me!
See ya! 👋