How To Delegate/Undelegate and Claim the Rewards Using UI Wallet

To delegate with Velas wallet you need Velas Native token which you can swap in the wallet or buy already Native on the exchanges: CoinEx, DigiFinex, Kucoin, and Gateio.

NOTE if you have tokens on Velas EVM wallet you can stake EVM tokens so it will automatically convert them to Velas Native tokens under the hood. For example, if you have 100 Native tokens and 300 EVM, then in staking you will be told that you can stake 400, and those 300 will be converted

NOTE: an old version of UI Staking is available in DApps => Velas Staking 1.0

Then check the addresses to swap from VelasEVM wallet to Velas Native wallet and the amount of VLX which you want to send.

Confirm the deposit and go to Staking to create the stake account.

A stake account is a different type of account from a wallet address that is used to simply send and receive VLX tokens to other addresses. If you have received VLX in a wallet address you control, you can use some of these tokens to create and fund a new stake account, which will have a different address than the wallet you used to create it.

On the Staking page, you will see the list of already created stake accounts (if you have such already) and a list of available Validators

To create a stake account just select the Validator which you more like and click stake

Enter the amount which you want to stake and click Next

After that, you will see the information about what steps will be done and Confirm

That is all, a stake account was created successfully and the tokens were successfully delegated to the Validator

If you return back to the Staking page and reload the staking you should see just created stake account

Note, Validators incur costs by running and maintaining their systems, and this is passed on to delegators in the form of a fee collected as a percentage of rewards earned. This fee is known as a commission. As validators earn more rewards the more stake is delegated to them, they may compete with one another to offer the lowest commission for their services, in order to attract more delegated stake. So, a 100% commission fee means you get 0% of your earnings on your staked VLX.

Activating needs time, or in other words Warmup period. When sending a staking transaction to the network, the stake first needs to activate before it influences the consensus process and begins to earn rewards. The time this takes is dependent on how much VLX is beginning to stake relative to the VLX already at stake. Up to 25% of the VLX already at stake can warm up per epoch and start to earn staking rewards. In the best-case scenario, when a reasonably high percentage of VLX is at stake and there is little new stake entering, this will usually mean that the stake will become active in the upcoming epoch that the staking transaction was sent. In times of high stake turnover, e.g. at network launch, the stake will progressively activate meaning that only a fraction of the stake will enter the validation stage of each epoch.

Click on your stake account address and the information about your delegate will open, there will be activating stake, after the warmup period end and you began to earn rewards.

The Cooldown Period describes the time between the moment you issue the undelegation transaction and the moment that your Stake Account is fully undelegated. In between, your Stake Account is considered to be “deactivating”, does not earn rewards anymore, and is illiquid.

Claim the rewards

Staking rewards on Velas are determined by a variety of factors, some of which are related to the chosen validator, while others depend on the global network state. Rewards are automatically added to the active stake to compound, which means withdrawing earned rewards also requires the cooldown phase to pass.

To claim the rewards you need to select Request to withdraw and enter the amount which you want to withdraw after the cooldown period.

After that, you can go to Withdrawals to monitor when it will be available to withdraw to your Velas Native balance.

How much earned rewards

Enter your stake account and select the Rewards Section. And there you'll see all the information about your rewards, how much was earned, which epoch etc.