Staking a fresh bag of Swapfolio (SWFL) tokens you just purchased can be a great way to earn some free tokens. To stake SWFL using our staking dAPP, there is a 2.5% fee on all entries and exits into the staking contract of the staking pool.
100% of this 2.5% fee is shared amongst everyone who is staked. Stakers also receive additional rewards dripped from the SWFL staking fund (daily, at random times to prevent gaming the system) totaling 2,100,000 SWFL tokens over the course of a year.
In future releases of the Swapfolio dAPP, stakers will also gain access to Pro-features, which will allow them to earn a 50% share of all revenue generated by Swapfolio’s in-app, native advertising section.
NOTE: The initial release of the staking dAPP is currently only compatible with Metamask for desktops. Improvements and integrations with other web3 wallets will be coming in the future.
Steps on Staking
Step 1: Head on over to our staking dAPP at https://staking.swapfol.io/. Once there, you will need to connect your Metamask wallet by heading to the upper right-hand corner.
Step 2 – Once your Metamask is connected, you should see the current total amount of staked tokens in the staking pool on the upper left-hand side (in green). The amount available in your Metamask wallet to stake is below that (in green).
To start staking, fill in the desired stake amount. Don’t use any decimals, just whole numbers, and a green “Approve” button will appear. Click it to sign the transaction (tx) and wait for the confirmation. You have now learned how to connect your Metamask wallet to Swapfolio’s staking dAPP.
Tip: Up the gas limit (on the right-hand side) and NOT the”GWEI” (on the left). If you don’t increase the gas limits high enough, the tx could end up being stuck pending, or even get dropped. Increasing “GWEI” will only burn Ethereum (ETH), in most cases.
Step 3 – Now, confirm that the amount you wish to stake is correct and click the “Stake” button. You will be required to sign a second tx using Metamask, the first one was just to connect your wallet to the dAPP. Selecting the “Fast” option on the Metamask user-interface (UI) is highly recommended, especially at times when the ETH network is severely congested.
Please remember that you only need to connect your wallet ONE time and be sure to use enough gas (and not GWEI) to guarantee that the tx gets completed in a timely manner. This also prevents the tx from getting dropped due to an insufficient amount of ETH being spent to process the tx.
Step 4 – Once the tx is confirmed, you’re done! Now you should see that your staking balance and the percentage of the staking pool which you currently hold, has been updated.
You can also click “View Transaction” (in blue letters) to verify that the tx was indeed “Confirmed”. If not, you may have to click “Speed Up”. If things are really bad, you may have to reset your Metamask in the options settings.
It is recommended that you select the proper gas limits before submitting the tx as opposed to after it gets stuck. Avoid using the “Speed Up” button by choosing the correct amount the first time. This helps to reduce the chances of your tx eventually getting stuck or dropped.
Step 5 – Below this, (on the right-hand side) is where you will find the total staking rewards you’ve earned. If you notice that no rewards are being added, try refreshing your browser as this will update your current reward balance.
Step 6 – If you would like to claim your rewards and withdraw them to your wallet, simply click on the “Claim SWFL” button. You will be prompted to approve a second tx via Metamask. Once this tx is confirmed, your tokens will be sent to the wallet you chose. If you wish to reinvest your rewards by re-staking them, you will need to go through the initial steps once again, as outlined above.
Step 7 – To withdraw your SWFL tokens from the staking pool, enter the amount you wish to un-stake in the “Withdraw” section and click the “Withdraw” button. Approve the tx and once confirmed, the un-staked SWFL will be sent to your Metamask wallet.
If you continue to have trouble with any of these steps, come find us in our Telegram channel – where the community/team would be more than happy to assist you in resolving any issues you encounter. We have a small but thriving community that is full of optimism and creative ideas for future promo ideas and features. Come join us and cash in on the participation promos available to all members, we can’t wait to see you there!