Persistence is a promising and rapidly developing crypto project, the goal of which is to become the liquid staking hub within the PoS space, unlocking the liquidity of staked assets via the pSTAKE application and allowing users to simultaneously earn staking and DeFi rewards, and create an ecosystem of decentralized applications that will accrue value to XPRT.
XPRT holders can use their tokens to participate in governance, to stake them, becoming validators of the network, or delegate XPRT to other validators, receiving about 35% per annum. The staking mechanism is based on the Tendermint PBFT consensus algorithm.
This guide will show you how to delegate XPRT coins in Persistence Wallet.
Creating a Persistence Wallet
Persistence Wallet is a simple and convenient web wallet for XPRT holders.
To create a wallet, go to the Persistence Wallet website and click the Create Wallet button. On the same page, you can restore a previously created Persistence crypto wallet.
The wallet reminds users to safely store mnemonics; if that is lost, users can permanently lose access to funds. Read the text and then click Next.
We wrote more about how to safely store the seed phrase in a separate article:
Cryptosecurity guide: how not to lose your funds when using cryptocurrency
We recommend reading it 👆
Write down the 24 words of the seed phrase presented on the screen, on paper, or other medium, in the same order in which they are shown. Then click Next.
Enter the missing words in the fields to make sure you wrote down the mnemonic phrase correctly, and then click Submit.
Generate a KeyStore file by clicking Generate Keystore File to quickly create a wallet.
If you click the Advanced button, you can independently set the parameters such as Account, Account Index, and an additional passphrase for improved protection of your crypto assets. This is optional.
Attention! The option Advanced is for advanced users. If you don’t want to waste time figuring out what it is, just skip this step and click Next.
Enter the password to encrypt the wallet. The more complex the password, the better. Use various combinations of numbers, letters, and special characters. Don’t use simple sequences like 12345 or qwerty. Then click Submit.
KeyStore File of a .json format will be downloaded to your device. Save it in a safe place and don’t lose it. Then click Done.
Now click Next.
The screen will display the wallet path and address. Copy this address to fund your wallet with XPRT coins. Tokens can be bought on centralized cryptocurrency exchanges such as AscendEX (formerly BitMax), Gate.io, Huobi.com, Kucoin.com. It can also be purchased on Decentralized exchanges like Osmosis.zone or Sifchain DEX.
After that, you can move on to staking. Click Login.
Import an existing Persistence Wallet
On the main page, click the button Sign in, if you already have an existing Persistence wallet.
Click Use KeyStore File if you want to access your wallet with your KeyStore file.
Select KeyStore File, enter your wallet password and then click Next.
Now click Login.
The wallet has been imported.
Note: If for any reason, you do not have a saved KeyStore file, you can generate it on the main page by using your seed phrase. On the main page, click the button Generate KeyStore file.
Enter your seed phrase and click Submit.
Enter your password and click the Submit button.
Keystore File of a .json format will be downloaded to your device. Save it in a safe place to access your wallet by clicking the buttons Sign in → Use KeyStore File.
Having logged in to the Persistence wallet with a positive balance, go to the Staking section.
Select a validator from the list, for example, Everstake, and click Actions. Everstake is a reliable validator that carefully selects promising blockchain projects for staking and helps them grow. The Everstake team consists of blockchain and fintech professionals who develop advanced services for staking, monitoring, and analytics using only secure server hardware.
Now click on Delegate.
Specify the amount of tokens you are going to delegate and click Submit.
Set the fee and confirm the transaction by clicking Next.
Enter your password to continue and click Submit.
Done! You have successfully delegated XPRT; you will receive about 35% APR in the long run. Rewards are awarded approximately every 5 to 7 seconds.
You can claim rewards on the Staking page as soon as they become available. If you decide to unstake your tokens, please note that the unbonding period is 21 days.
If you want to change your validator, you don’t need to undelegate: just use the redelegation option and continue getting rewards.
More information on the XPRT staking can be found in the dedicated Persistence FAQ section.
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