đStake FLIP From a Vesting Contract
This page outlines the process of staking your FLIP should it be locked into a staking contract.
Last updated
This page outlines the process of staking your FLIP should it be locked into a staking contract.
Last updated
In a nutshell, staking FLIP from a vesting contract means you are exchanging 'vested FLIP' for 'vested stFLIP'.
You are able to earn rewards on this stFLIP, and claim those rewards at any time to your wallet. However, when you exchange FLIP for stFLIP, you are not recieving stFLIP into your personal wallet, all the interactions are between the staking contracts and the vesting contracts.
This basically means that converting vested FLIP to stFLIP does not allow one to circumvent the vesting period, but does allow the earning of protocol rewards.
First, head to https://institutional.stakedflip.fi/. You'll see a 'Stake Now' option on this page:
This wallet should be the wallet connected with your vesting contract, stakedflip supports various wallets, in this example we'll use metamask. Your wallet should pop up in the top right of your browser, choose the correct account if you have multiple, and then click 'Next'.
Once you've connected, you'll see a drop down list that will contain your vested contract address, choose the contract you would like to stake from.
You are then free to enter the amount of FLIP you'd like to stake. One can stake any amount of stFLIP greater than .01, and there is no maximum. Once done, click the 'Approve' button, then 'Submit Stake' directly below it. In this example we are staking 300 FLIP.
You'll get another wallet popup prompting you to approve this transaction, click 'Confirm'. (Higher gas may be needed at times of network stress for a faster transaction).
Once you've confirmed, wait for the backend contracts to work their magic.
When the transaction is confirmed, you'll have vested stFLIP inside your contract. Congrats! You just staked your FLIP!
Now protocol rewards earned from validator nodes will accrue on your vesting contract. stFLIP uses a rebase mechanism to allow balances to increase in line with protocol rewards.
As it's vested, you won't see it in your wallet directly, so you can head over to out analytics page.
(these images were taken on testnet, so ignore the 0% rewards for now)
Here we can see that even though we staked 300 FLIP, our balance of stFLIP is 310. We can see on the right hand graph that this is becuase we've accumulated 10 stFLIP in rewards.
As this is a vesting contract, these rewards are accumulating in the vesting contract, rather than our own wallet. However, rewards are not subject to the same vesting limitations our initial FLIP is. This means when rewards accrue, we can manually claim them.
When you're ready to claim your staking rewards to your own wallet, navigate to the claim rewards page.
Here, you'll see your vesting contracts in the drop down menu. Navigate to the one you want to claim from and click, 'Submit Claim'.
We reccomend taking this opportunity to add both stFLIP and FLIP to your wallet for ease, if you don't, you may have to navigate to a block explorer to see your assets.
Once you've confirmed the transaction, you'll recieve your rewards directly into your personal wallet, and you're done!
