Kusama is a scalable network of blockchains built using Substrate and nearly the same codebase as Polkadot. It is an experimental development environment for teams who want to prepare for deployment on Polkadot. Kusama was founded in 2019 by Dr. Gavin Wood, founder of Polkadot and co-founder of Ethereum.
Fearless Wallet is a non-custodial mobile wallet designed for Polkadot and Kusama ecosystems. It was developed by SORAMITSU and funded by Kusama treasury.
Summary
- An address is active when it holds a minimum amount of Kusama tokens, aka existential deposit. It is set to 0.0000333333 KSM. The account will be deactivated if the balance is insufficient, and any remaining funds will be burnt. To reactivate it, you need to make the existential deposit. However, this will not restore the burnt funds
- Fearless Wallet allows staking with a minimum of 0.1 KSM
- The longer you lock your tokens, the better APY you get
- Do not send staking rewards to an inactive account. If rewards are less than 0.0000333333 KSM, you will lose them
Create an account
Download Fearless Wallet for iOS or Android. Create a new wallet or import an existing one.
To create a wallet, follow these steps:
- Click on “Create account”
- Select the Kusama network and account name
- Click “Next”
- Save your mnemonic phrase. Do not take screenshots while saving the phrase, and do not copy it to the clipboard. Saving your mnemonic phrase as a screenshot or text on a phone or laptop puts it in danger of being stolen
- Click “Next”
- Confirm the word order in your mnemonic phrase, or skip this step
To import a wallet, follow these steps
- Click on “I already have a wallet”
- Select “Source type” and “Network” as shown in the picture below
- Enter your seed phrase in the appropriate field
- Click “Next”
You’re all set! Now you can send, receive and stake Kusama.
How to stake Kusama
Select the Staking section in the menu at the bottom of the screen.
The minimum stake amount may vary.
Before staking, you need to choose between two options for receiving rewards. You can either restake or receive a payout.
- If you choose Restake, your rewards will automatically add to your stake
- If you select Payout, you will receive rewards in your Wallet. You can also provide another address
The Validators section gives you two options:
- Recommended validators is a list of reputable and most trustworthy service providers (the list can change over time)
- Your validators is a list of all validators. You can search and filter the list
Everstake is one of the Kusama validators. Thus, you can delegate tokens to us.
Always DYOR when choosing a validator.
After selecting a validator and pressing Continue, you will see a confirmation window summarizing your rewards payout selection and the number of validators. Review a network fee and press “Сonfirm.”
After confirming, you will return to the main staking screen.
Your staking will start in the next era (1 era = 6 hours).
You can track your progress in the Staking section and review notifications from your validators in Alerts.
It is this simple to stake fearlessly!
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