How to Delegate MINA and earn interest using Auro wallet?
Important notice: Although Auro 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: Auro 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 hold 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.
So, don’t lose this opportunity.
Delegate your MINA using Auro 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 Auro
- Please install the browser extension from Auro official website.
- If you are using Auro wallet for the first time, then creating an account is necessary since there is no option to import an account using the private key.
- Open the extension, Click “Create Wallet”.
- Input your desired password, please remember/store the password elsewhere.
- The mnemonic phrase will be shown after entering the password, Please save this in a secure location. If you lose this, you will lose all your MINA. So, please be very careful.
STEP 2 | Deposit MINA to your wallet address
- Deposit your MINA to the new wallet address you just created.
- Please wait for a few minutes after initiating the transaction, your MINA should show up in Auro shortly.
STEP 3 | Delegating your MINA
- Click “Staking” on the dashboard
- Click “Go to staking”
- Choose your preferred block producer from the list available and checkmark them. You can find them by using either the name or the public key of your desired block producer.
- 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/.
- If you want to delegate your MINA to us, please feel free to use the below details for delegation.
My public key: B62qoazqR1ag2hDwjkSSm6qV3eJtkiPvVPKhfVyeea7TehBAWu4dWJ5
6. Now give a checkmark to your desired block producer and please proceed with the delegate transaction.
You’re done! But, one quick suggestion
On the transaction page, select “Fast” in the Fee section, so that your delegate transaction will get almost instant confirmation.
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! 👋