Staking MINA with Clorio Wallet & Rootster Labs
MINA Protocol is the world’s lightest blockchain – powered by network participants. MINA’s claim to fame is that their entire blockchain is 22kb (The size of a few Tweets) which is why it’s so fast & accessible. Anyone who uses MINA protocol acts as their own node allowing any participant to take part in a proof-of-stake consensus which makes censorship extremely difficult. By all participants taking part in proof-of-stake consensus, it makes it virtually one of the most secure blockchains.
Currently, if you engage in staking MINA tokens to earn rewards, you can earn up to 24% APY.
Rootster Labs has created a detailed walkthrough to safely & securely stake on the MINA network. In this tutorial, we will cover how to stake MINA on the Rootster Labs validator using a Clorio Wallet.
1.) Creating your MINA Wallet
Visit mainnet.clor.io to create your wallet. Press “Create Wallet”
Save your Passphrase somewhere safe. This & your private key allow you to get back into your Clorio wallet. (Your passphrase is a unique sentence-like phrase that allows you to get back into your wallet. It’s important that you save the ORDER of the words).
After you’ve copied your passphrase somewhere safe you’ll have to verify to access your newly created wallet.
After you’ve gained access to your wallet, you’ll want to backup your Private Key. Make sure you backup your Private Key somewhere safe. It’s important that you have both your passphrase & private key to get access back into your Clorio wallet.
You’ll need to enter your passphrase to get your private key.
It’s important you get your private key as you’ll need it in order to stake tokens.
In order to stake, you’ll have to send MINA to your new Clorio Wallet’s Public Address. You can find your Public address here:
2.) Staking MINA Tokens with Rootster Labs
After you’ve sent MINA to your wallet you’ll be able to stake your tokens on Rootster Labs’ Validator to earn rewards. This is a fun, passive way to put tokens to work & earn up to 24% APY.
To stake your MINA tokens, you’ll want to navigate to the “Staking Hub” section of your Clorio Wallet.
You’re going to want to scroll to Page 2 (Go to the bottom) & find the Rootster Lab Validator (You’ll see our logo in the circle). If you need help finding our Validator please watch the video (Coming Soon).
Confirm the delegation & proceed with the default fee.
Insert your Private Key or Passphrase, then you’ll be able to delegate whichever amount of MINA tokens you prefer 🙂
Root Root! You’ve successfully delegated MINA to the Rootster Labs Validator!
If you have any questions please do not hesitate to reach out to the Rootster Labs team and we will be happy to assist 🙂