⛓️ What is Ki Chain ?
Ki is bridging the gap between CeFi and DeFi by opening a new era of next-generation financial products, leveraging real-life businesses by developing an integrated blockchain platform with its own XKI token
The XKI is the native coin of the Ki ecosystem which carries plenty of use cases to contribute to network security and real-life business value. The $XKI usage will be quasi infinite. The first leverage being Klub with members buying and holding XKI to benefit from better services and XKI rewards through their Klub cards and investments.
Many other usage are going to be developed in 2022, among them Insurance product, DeFi liquidity pools, Collateralized Borrowing etc.
💰 What is Staking ?
Staking is the process of locking up a digital asset to provide economic security for a public blockchain. You have the superpower to contribute to the security, governance and it grants you the right to vote on proposals and make decisions on the future of the network.
When the staking transaction is complete, rewards will start to be generated immediately. At any time, stakers can send a transaction to claim their accumulated rewards.
Staking rewards are generated and distributed to staked holders in two ways:
Transaction fees collected on the network are distributed to staked holders.
The total supply of the token is inflated to reward stakers.
⚠️ Holders that do not stake do not receive rewards, meaning their token get diluted over time.
Staking is not risk-free. If a validator has downtime or underperforms, a percentage of tokens delegated to them may be forfeited. To mitigate these risks, it is recommended that holders delegate to multiple validators.
📈How to stake $XKI ?
There are two ways to stake your $XKI:
A- Using the official Ki Desktop Wallet
Download it, for your operating system, from the Ki Foundation GitHub repository
Step 1: Installation
Run the installation wizard and follow instructions on your screen
Step 2: Create/Import your wallet
In case of creating a wallet, it will generate a 24-words wallet recovery seed, keep this in a safe place since this is the only way to get your account back in case of a issues.
Step3: Delegate
Go to your wallet then on Delegation tab, search for Imperator and click on Delegate
Specify the number of XKI tokens that you want to stake. You can also manually configure the network fee by moving the slider. The larger the commission, the faster the transactions are confirmed. Enter your password to unlock your wallet and then click Delegate.
Note: Always leave a few tokens to pay the commission when you delegate, send tokens, or collect a reward.
Check for your transaction status by clicking on the TX hash on the Transactions tabs.
It will redirect you to the transaction page:
Withdrawing your rewards is simple as child’s play: go to Withdraw tab and click on Withdraw on the right of your selected validator, enter your password and click on Withdraw
B- Using the Cosmostation mobile application
Step 1: Download
Download the Cosmostation application on the AppStore or Google Play
Step 2: Create/Import your wallet
Import or Create a Ki wallet by following instructions
Step 3: Delegate
On your wallet, click on Delegate and select Imperator
You will see details on the selected validator, click on Delegate
Put the amount desired and click on Next
Note: Always leave a few tokens to pay the commission when you delegate, send tokens, or collect a reward.
You do not need to put a Memo for this step, click Next
Here you can also manually configure the network fee. The larger the commission, the faster the transactions are confirmed.
Read carefully the notice and then Continue
Then confirm your transaction
Congratulations, you have staked your $XKI
Withdrawing your rewards is simple as child’s play: click on Delegate, select your validator and choose between Claim Reward and Re-Invest depending on your willingness
