Staking your $MOVR on Moonsama Collators and earn Staking Rewards
The MoonsamaNFT team has setup two $MOVR nodes on dedicated hardware backed by production grade monitoring and security:
You can stake your $MOVR here to maximise your staking ROI and help support MoonsamaNFT development by staking your tokens on one or both of these nodes. This lesson will explain how to do this on PC or Laptop and Mobile.
Manage $MOVR Staking on PC or Laptop
These steps will guide you you through the process of staking your Moonriver tokens ($MOVR) on Moonsama collators.
Please note: In lesson 3, you have set up the RPC in your Metamask settings, therefore this is not discussed here.
- Go to Moonriver Staking to connect to the dApp. When accessing this page for the first time you will be requested to read the user requirements. If you meet the requirements you can click accept to proceed.
- The next step is to unlock you Metamask application (if locked), provide your password in the Metamask prompt.
3. Once signed in, you will be prompted to select the account to connect to the dApp.
- Click "Next" in the screen above, now MetaMask will ask you if you wish to connect, it also informs you that this will enable the connected site/ dApp to view your addresses.
- Click "Connect" in the screen above, now the dApp will open, the first time it opens you are greeted with the below informative screen:
Key take-away, decreasing the amount of bonded $MOVR takes around 48 hours.
- Now you have arrived at the Moonriver staking page:
- Now click on "Select Collator" in the above screen to go to the collator overview. To specifically filter for the "Moonsama" collators, you can use the search bar as highlighted below:
This overview also provides you with additional information such as:
- In the highlighted "Delegations" column you see the number of delegators that are already delegating $MOVR to a specific node.
- The highlighted "Min Bond" column indicates the minimum amount of $MOVR that needs to be bonded to start receiving staking rewards.
- In the screen below you see that collator "Moonsama2" has been selected and that we plan to bond 6 $MOVR
To initiate the bonding process you need to click "Delegate". This will trigger a MetaMask popup asking you to confirm the transaction, click "Confirm" to accept:
- Once you have signed the transaction, you will see a "delegation transaction sent notification" in the top right corner. If successful, you will see a "Transaction confirmed" notification and your dashboard will be updated to include the delegation:
Congratulations! you are now staking $MOVR with one of the Moonsama Collators!
After 24 rounds (approximately 48 hours) rewards will start rolling in and you will see this reflected directly in your MetaMask wallet and in the "Latest staking rewards" pane of the screen above.
Changes to Delegations
Any delegation in the list of delegations can be modified to bond or un-bond funds. This is the list of delegations:
Bonding additional $MOVR
Use the "+" sign to open the below dialog box, here you can indicate the amount of additional $MOVR you would like to bond to a specific collator. After you have entered the amount click "Send" this will initiate a MetaMask pop-up requesting you to approve the transaction.
Once you have signed the transaction, you will see a "delegation transaction sent notification" in the top right corner. If successful, you will see a "Transaction confirmed" notification and the "Balances" pane your dashboard will be updated to include the new delegation.
Your additionally bonded $MOVR will be visible directly, however it will take 24 rounds (approximately 48 hours) until the additional funds will be taken into account for staking rewards.
Un-bonding or revoking delegated $MOVR
To reduce the amount of $MOVR delegated to a specific collator you have two options:
- Use the "-" sign to un-bond this will open the below dialog box, here you can indicate the amount of $MOVR you would like to un-bond from a specific collator. After you have entered the amount click "Send" this will initiate a MetaMask pop-up requesting you to approve the transaction.
- Use the use the "X" sign to completely revoke you delegated funds. This will open the below dialog box, click "Confirm" this will initiate a MetaMask pop-up requesting you to approve the transaction.
For both of the un-bonding actions described above the following applies:
- Once you have signed the transaction, you will see a "delegation transaction sent notification" in the top right corner.
- If successful, you will see a "Transaction confirmed" notification. However the "Balances" pane in your dashboard will remain unchanged.
- The un-bonding action will remain pending for 24 rounds or approximately 48 hours
- You can manually execute the un-bonding request after this period:
- When the un-bonding request has been manually executed, the un-bonded funds in your free balance on the "Balances" pane in your staking dashboard.
Manage $MOVR Staking for Mobile
These steps will guide you you through the process of staking your Moonriver tokens ($MOVR) on Moonsama collators from your mobile device.
To manage $MOVR staking from Mobile, you can use roughly the same method as described for PC or Laptop.
Step 3 where you select the account to connect to the dApp in the process for PC or Laptop, is skipped in the mobile process, other steps are the same. However before you can start with managing your $MOVR staking from Mobile, these additional steps are needed.
- Open the browser in your MetaMask mobile application 👉 Menu -> Browser
- Go to Moonriver Staking in your MetaMask browser, the dApp will immediately trigger the connection request as seen below:
- Click on the "Connect" button in the screen above, the dApp is now immediately connected to you Mobile Metamask wallet:
- From here you can follow the steps as described for PC or Laptop, starting from step 6.