Staking
To participate in KDOE staking, follow these steps:
Connect your Ethereum wallet that holds KDOE (ERC-20) to the website.
Sign an approval transaction in your wallet, which should give you a pop-up prompt to notify you of this.
After wallet approval, click the "Stake" button to begin the staking process
Add gKDOE Token contract to your wallet: 0xEF732cD262076E3CEc7a1d4E96b052D57B383E69
For a more detailed step by step guide with screenshots on how to stake click here.
Please note there are three total approvals that need to be signed, the token contract, the staking contract and the governance contract.
Disclaimers
DO NOT Transfer your gKDOE, you will be unable to unstake if you don't hold in gKDOE the equivalent to your original KDOE Staking, you can only unstake your original staked amount. For example if you stake 100 KDOE you will in turn receive 100 gKDOE - you will only be able to unstake and claim your KDOE Tokens if you unstake exactly 100 gKDOE. You will NOT be able to unstake 99 gKDOE.
Staking FAQs
Are my tokens locked if I stake them, or is there a minimum amount of time I must keep them staked?
The conditions for withdrawing staked KDOE tokens depend on their use in the Kudoe DAO voting processes. If the tokens have not been used for voting in a proposal, they may be withdrawn at any time along with any earned rewards. However, if the tokens have been used to submit a proposal or to vote on a proposal, they must be kept staked until the voting period has ended and the results have been finalized before they can be withdrawn.
How do I withdraw my staked KDOE and earned rewards?
To withdraw your staked KDOE and earned rewards, you will need to unstake your gKDOE through your wallet. Simply have the gKDOE in your wallet and click the unstake button. The gKDOE will be converted to KDOE and combined with any rewards you have earned and returned to your wallet.
Make sure you have a sufficient amount of ETH in your wallet to cover gas fees before attempting to stake or unstake your KDOE. Gas fees are the fees required to execute a transaction on the Ethereum blockchain, and they can vary depending on network demand.
Do my earned rewards compound automatically?
No, earned rewards do not compound automatically. However there is a process in which you can manually compound. To stake your earned rewards on top of your current balance, you need to first withdraw them using the "Claim Earned Rewards" option on the staking page. Once you have the earned rewards in your wallet, you can stake them on top of your current balance by entering the amount of tokens and using the stake button. This will result in additional gKDOE rewards for the newly staked tokens.
Monitor the Ethereum gas price, or GWEI, to ensure that you are not paying unnecessarily high fees when staking or unstaking your KDOE. If gas prices are low, it may be an excellent time to unstake and restake your KDOE in order to take advantage of compounding staking rewards. Some community members do this every two weeks, while others do it monthly.
What is the Kudoe DAO and where can I find more information about it?
The Kudoe DAO allows KDOE token holders (ERC-20) to submit proposals to help direct the future of the token. Users can also vote on proposals that have already been accepted. By putting the power of governance in the hands of its users, Kudoe aims to create a truly decentralized platform that is open, transparent, and fair. Through the DAO, KDOE token holders can have a say in the direction and development of the token and the Kudoe ecosystem.
How long will I be able to gain rewards from the Kudoe staking pool?
The Kudoe staking pool is set for one year. Please note that this information is subject to change, and it is important to stay up-to-date on the latest developments and announcements from Kudoe.
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