DOCK App / Polkadot
To get started you need stash and controller account.
Stash - hold the tokens that are staked
Controller - signal choices on behalf of the Stash account
1. Go to the Dock App and navigate to the Network -> Staking tab. Change the tab to “Accounts” and click “+ Nominator”.
2. Choose your Stash account and controller account, and enter the amount of DOCK you wish to bond. Choose your payment destination - typically “Stash account (increase the amount at stake)” and click “Next”.
3. Find one of our recommended validators, click “Nominate” and confirm the transaction. That’s it!
Enjoy your rewards on cold staking!
Frequently Asked Questions
How does Cold Staking work?
Cold staking is an innovative approach to earning passive income from your cryptocurrencies. To begin cold staking, users must store their assets in a non-custodial wallet and delegate their coins to a MyCointainer node or similar validators.
Your participation in cold staking entitles you to receive rewards in the form of additional tokens, and further creates a bigger impact on network security, and decentralization of the protocol.
What is Annual Percentage Rate (APR) and how is it calculated?
The annual percentage rate (APR) for delegators to dPoS validators is calculated based on several factors, including:
- Block rewards: The rewards earned from validating blocks and creating new blocks are distributed among validators and their delegators. The amount of rewards each delegator receives is proportional to the amount of stake they have delegated to the validator.
- Commission rate: The commission rate is a percentage of the rewards earned by the validator that is taken as a fee. This fee is taken from the rewards earned by the validator and its delegators.
- Inflation rate: The inflation rate of the underlying cryptocurrency affects the overall rewards earned by the validator and its delegators.
- Network performance: The network performance, such as the rate of block production, can also impact the APR earned by delegators.
All these factors are combined to calculate the APR for delegators to dPoS validators, which should be treated as estimate of the expected returns for staking over a certain period of time.
Will the APR always be a fixed percent?
There are factors that can move the APR up or down. Rates can be influenced by the network’s conditions, inflation, number of stakers and staked assets, and the validator’s performance.
When will I receive my Cold Staking rewards?
The frequency of rewards distribution for cold staking assets in dPoS assets typically varies depending on the specific network details. In some cases, rewards are distributed on a weekly or monthly basis, while in others, rewards are distributed daily or even often. It ultimately depends on the design of the particular network, and for some of them, you will need to claim produced rewards before making them free to use.
Are there fees for Cold Staking?
Yes, there can be fees associated with Cold Staking. They may vary depending on the specific dPoS network and the Cold Staking Provider you use. Besides rewards fees which node operators typically set up, there are network fees associated with executing delegation.
Can I access my assets while Cold Staking?
Since the assets are stored in your personal cold wallet, you always have access to your investments. You can unstake your assets anytime, but consider that various assets have different unbonding periods that are governed by the blockchain network.
Dock on MyCointainer Platform
Dock (DOCK) Staking App
MyCointainer lets you participate in the most simplified crypto staking mechanism in return for higher yields in a user-friendly earn app. You can invest for as little 1 EUR!
How to start hot staking?
Dock (DOCK) Exchange App
Our built-in exchange lets you buy and sell staking Dock (DOCK) tokens against BTC and EUR. We offer the best trading pairs compared to major crypto exchanges. Thanks to our service, you don't need to buy staking assets elsewhere meanwhile having rewards generated automatically right after trade.
How to start trading?
- Once logged in, click "Exchange".
- Select either BTC or EUR currency, and trade it with Dock (DOCK).
NOTE: Ensure you have enough balance of the assets in your wallet to make transactions. Otherwise, assets may not be displayed on the lists.
- The DOCK tokens will be transferred to your in-app wallet. For every successful trades, you will receive bonus coins.