How to Liquid Stake
Last updated
Last updated
1) Bridge your DOT or KSM from Polkadot or Kusama to Acala or Karura respectively. To learn how, follow our bridging guide.
1) Starting on the homepage, navigate to the Metahub.
2) In the DeFi menu, press on Liquid Dot.
3) You’ll now be able to see the Liquid DOT menu where you’ll be able to see your stats such as how much DOT/LDOT you hold. You have 2 options, Redeem DOT (which we’ll explore later), and Mint LDOT which will allow you to stake your DOT and receive LDOT - tap on this second button.
4) Now you'll have the ability to mint LDOT - but inputting the amount of DOT you’d like to stake/convert, you’ll see how much LDOT you’ll receive.
5) You will also have access to 2 staking methods, with the first (Stake LDOT for rewards) allowing you to mint LDOT (with the base DOT rewards) as well as collateral staking it for the additional aUSD rewards. The second method (simply, Stake) will merely stake the DOT and return LDOT with the DOT rewards.
6) For the most rewards, let’s pick the first option (Stake LDOT for rewards) and press submit. You’ll then be greeted with a confirmation screen with how much DOT you’re staking as well as which method of staking you’ve chosen. Once submitting, you’ll be prompted to enter your wallet password to continue.
7) In order to now see your staked LDOT, you’ll have to navigate to the Earn tab in the Defi menu from earlier.
8) In the earn menu, you’ll have the option of LP Staking and Collateral Staking - select the latter.
9) Here you’ll be able to see your staked LDOT, but also the current APR% as well as your outstanding aUSD rewards which you’re able to claim. Your DOT rewards will accumulate automatically as your LDOT will be able to be redeemed for an increasing amount of DOT as time goes on and the returns accumulated daily.
10) If you however decided to only hold LDOT without collateral staking it, you’re able to view your balance either in your portfolio page, or within the Liquid Staking menu.
