Staking Komodo and claiming rewards
Guarda Web users have the opportunity to take advantage of Komodo Platform’s stake system, producing 5% rewards for simply having KMD in their wallets.
However, before you can begin accruing your rewards, some conditions need to be satisfied:
- You need to have at least 10 KMD on your wallet in order to begin staking.
- Your funds need to come from another wallet which enables the Komodo claim.
On Guarda, if you obtain KMD via purchase with fiat, or exchange from another cryptocurrency, you will need to add another KMD wallet, then transfer the funds there utilizing our in-built Send function. This marks the funds with a ‘LockTime’ setting, enabling the claim.
Important - the transaction needs to be more than 10 KMD! - You need to wait for roughly 75 minutes while your rewards begin accruing. Only after this period passes will the Claim option appear in your wallet.
Very important! If you have unclaimed KMD rewards, DO NOT transfer your regular KMD funds elsewhere. If you do that, your unclaimed KMD rewards will be lost and defaulted to 0. To prevent that, before sending your funds to a different wallet, please ensure that you have claimed your KMD rewards beforehand.
How to claim
After the initial wait time passes, the option to claim your Komodo rewards will become available. You can find it in the list of currencies on your sidebar, under your Komodo wallet. Clicking KMD to claim reveals the amount of rewards you have accumulated so far and the Claim now button, which automatically sends out a transaction of this sum of KMD to your wallet. Once it’s completed, you will be able to see this transaction in your history.
Important: don’t try to claim a reward that’s less than 0,01 KMD - it will be eaten up by fees!
You will need to wait at least one hour before you can claim again. Bear in mind that in order to keep the claim active, you will need to perform at least one transaction every month. This proves to the network that you still have access to your private key and that your funds are active.
Once again, you can simply keep the claim going by transferring KMD from one of your Guarda wallets to another. Please note that once a month passes since your last claim, you will stop accumulating rewards. Make sure to claim at least once per month to get maximum rewards!
