Stakeboard is a web application that allows you to interact directly with the KILT blockchain to stake your KILT Coins. Stakeboard and Sporran were developed by B.T.E. BOTLabs Trusted Entity GmbH, a subsidiary of BOTLabs GmbH, the entity that initially developed KILT Protocol.
To stake on Stakeboard you need a KILT Identity (wallet address) with at least 1,001 KILT Coins (1,000 for staking; 1 to cover any transaction costs). You can choose one collator to back with your KILT Identity to become a delegator for them. When this collator successfully produces blocks, you can receive a reward of up to 8% per annum.
If you own more than 1,000 KILT Coins and want to participate as a delegator, head to Stakeboard and review our “how-to” guide below.
1. How to create a KILT Identity
If you don’t already have a KILT Identity set up, you can download the Sporran wallet via the Chrome Web Store or Firefox. See instructions on how to set up a KILT Identity in Sporran.
(You can also have your KILT wallet in the Polkadot.JS extension and use Stakeboard with it, but in this guide we will focus on showing you how to interact with Sporran.)
2. How to connect your Sporran to Stakeboard
When you open Stakeboard, a popup will ask you to connect to the KILT blockchain.
If you have just set up your first KILT Identity, refresh the web page if this does not appear automatically.
Click “Yes, allow this application access”
If you also have a Polkadot.JS App extension, this may also pop up.
If you wish to disable the Polkadot.JS popup, follow the instructions here.
If you wish to disable the Sporran popup, follow the instructions here.
3. The layout of Stakeboard
1. SESSION BLOCK COUNTDOWN: shows the current session, counting the blocks in the session. One session on the KILT blockchain lasts around 2 hours, or 600 blocks.
2. BEST BLOCK: the most recent block mined by the KILT blockchain.
3. FINALIZED BLOCK: the most recent block approved by the Kusama Relay Chain.
4. The token bar shows how many tokens you have, including how much is staked and how much is still free (ready to withdraw). When active, clicking “DETAILS” opens a field with more information:
- WITHDRAW: free tokens
- LOCKED FOR 7 DAYS: tokens that have been unstaked and are still in the unbonding period of 7 days. Also gives information on the time until fully unbonded.
- READY TO WITHDRAW: tokens that have been unbonded and need a transaction to be unlocked.
Your Sporran will show one token bar for each Identity you have created.
5. Search collators by KILT address.
6. List of collators: Each collator is currently shown by their address (the long list of numbers next to the icon), as Sporran does not hold data on the individual collators.
In the future, collators will be able to indicate a name using KILT decentralized identifiers.
7. The star can be clicked to add a collator to your favourites.
8. The pickaxe icon shows if the collator is in the active set.
- Yellow: collator in the active set
- Grey: collator not in the active set
- Orange: the collator has indicated they will stop collating and will leave in the active set soon
9. Arrow:
- Green: will be in the group of active collators in the next session
- Grey: will not be in the group of active collators in the next session
10. Rank | Total Stake:
- Rank: KILT launched with an active collator set of 16 collators. This is set up to be gradually increased to 75 collators. Collators are ranked according to the amount of stake backing them. Rank 1 is the collator with the most stake.
- Total Stake: The total amount of KILT Coins staked on this collator (self-stake + delegator stake)
11. Lowest Stake: The lowest amount of individual stake backing the collator. lf the collator already has 25 delegators, this is the minimum you would need to top to back the collator (and to kick that delegator out and take their place)
12. Delegators: The number of delegators the collator has backing them / the maximum number of delegators possible per delegator (currently 25)
13. Coin logo:
- Yellow: You are staking on this collator
- Grey: You are not staking on this collator
If you have 1,001 KILT Coins or more in your Identity, clicking in the collator column will open a drop-down menu with more options. (1,000 minimum for staking; 1 for transaction fees.)
14. STAKE FROM: Here you can choose the account you wish to stake from. Clicking the arrow gives a drop-down with all the Identities you have linked to Sporran.
15. MY STAKE: Add the total amount you wish to stake from this account.
16. STAKE: Button changes from grey to yellow when the account is selected and the amount is entered.
4. How to Stake
Click on the column next to the collator you wish to back. As long as you have a minimum of 1,001 KILT Coins in your account, this expands the field.
1. STAKE FROM: Click arrow to choose the account you want to stake from
2. STAKE AMOUNT: Insert the amount of KILT Coins you want to stake
STAKEABLE: If you are already staking, the STAKEABLE field will pop up under STAKE AMOUNT. This indicates the amount you still have free to be staked.
Choose your collator. See h ere for a list of collators currently available.
Click the arrow next to “Select Identity” (under STAKE FROM). This will give a list of all Identities you have connected to Stakeboard.
Choose the Identity you want to stake from.
Enter the total amount you want to stake. The STAKE button will then turn from grey to yellow.
Please remember to leave at least one KILT in your account to cover transaction fees. Click “STAKE”.
This opens up a new popup with the address of the collator you want to stake on and the amount you want to stake.
If you are happy that the details are correct, click “STAKE”.
Stakeboard creates a transaction to be submitted to the KILT blockchain. Recheck, if the transaction reflects what you intended to do.
If yes, enter your password for the KILT Identity.
Click “Sign the transaction”.
A popup indicates that the transaction is in progress.
When completed, you will see a “Transaction Complete” popup.
Your KILT Coins have now been staked!
Please note: As staked KILT Coins remain in the wallet they are staked from and the Stakeboard does not actually hold KILT Coins, you receive all rewards to the address you staked from. If you wish to restake these KILT Coins, you will need to do this manually.
5. How to Unstake
Unstaking follows a similar process to staking.
Click the column next to your collator to expand the field.
Click “EDIT”.
If you wish to unstake all your KILT Coins, click “UNSTAKE”.
This changes the MY STAKE to 0 stake.
Popup asks if you want to stop staking.
If all the details are correct, click “UNSTAKE”.
Stakeboard then creates a transaction to be submitted to the KILT blockchain. You will then be asked to sign the transaction on the blockchain by entering your private password for the KILT Identity.
Click “Sign the transaction”.
Your KILT Coins have now been unstaked.
Remember: when you unstake there is an unlocking period of 7 days before you can withdraw your KILT to your wallet. You can see the time left to unlock in the DETAILS section, next to the token bar.
You can choose to stake again within the seven-day unlocking period (once the next session starts, you can also choose to put them on a different collator).
6. How to Increase or Decrease Your Stake
Increasing or decreasing the amount of funds staked on your collator follows a similar process to staking:
Click the column next to your collator to expand the field.
Click “EDIT” next to the collator.
This opens the options APPLY, UNSTAKE, or STAKE.
Change the number in MY STAKE to the total amount you wish to have staked, not the amount you want to unstake or add.
When the number has been changed, “APPLY” changes colour to yellow.
Click “APPLY”.
If all the details in the next popup are correct, click “STAKE”.
Stakeboard then creates a transaction to be submitted to the KILT blockchain. You will then be asked to check the transaction again in your wallet and if you agree, you can sign the transaction by entering your password for the KILT Identity and send it to the blockchain.
7. Withdrawing Unstaked Funds
After unstaking, your KILT Coins will be locked for 7 days. The time remaining for the tokens to be unlocked is indicated in the DETAILs section next to the token bar.
After 7 days, you need to withdraw the unlocked funds to your wallet.
Click DETAILS next to the token bar.
Click WITHDRAW (under READY TO WITHDRAW).
Sign the transaction by entering your private password for the KILT Identity.
That’s it! Thanks as always for supporting KILT Protocol.
If you have any questions during this setup process, please visit the ”Staking” section of our Tech Support site.
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Managing Director: Ingo Rübe Contact: Ingo Rübe info[at]botlabs.org
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