Subwallet: How to Stake Print
Modified on: Tue, 6 Feb, 2024 at 4:39 PM
Subwallet allows you to easily stake your tokens and receive staking rewards, either by directly nominating validators or by joining a nomination pool.
The process is very similar in both situations making staking a seamless experience in both cases. If you are not sure whether to join a pool or nominate directly, we recommend reading this wiki article.
ℹ️ GOOD TO KNOW
If you have any questions about how to stake on Subwallet or run into any issues and require further assistance, feel free to ask our AI chatbot or contact us.
Alternatively, you can also read Subwallet's documentation or contact their team directly and receive specialized assistance from the team that developed the wallet.
You can contact Subwallet support either by joining their Discord server, on Telegram, or through email.
ℹ️ INFO Subwallet is available as a mobile app for iOS and Android, as a browser extension, and as a web app. The UX and UI of all three platforms are pretty consistent.
In this and other articles, we provide instructions for the browser extension. If there are differences between the extension and the mobile app, we'll make sure to point them out or provide separate instructions.
TABLE OF CONTENTS
How to stake
In this article we'll be using the Westend testnet as an example, but the process is exactly the same for Polkadot and Kusama.
Whether you want to nominate validators directly or join a nomination pool, the process is very similar.
1. From any screen, select the account you want to stake with by clicking on the accounts menu
2. Then click on the "Staking" icon at the bottom
3. If you are not already staking with any of your Subwallet accounts, this page will look like the following. You can click on "Start staking" or the small "+" icon to start staking.
If you are already staking, the "Start staking" button won't be displayed, but you can stake with a different account by clicking on the small "+" icon.
4. When you click to start staking, you will be presented with the following screen.
If you want to join a nomination pool, select "Pools" (the default option). If you want to directly nominate, select "Nominate".
5. Click on the currency drop-down menu to select on which network you want to stake.
The selections available will include the networks that offer nomination pools or nominating directly, based on whether you chose "Pools" or "Nominate" in the previous step.
6. Click on the small "information icon" on the top right to see staking information about the network.
For pools, it will show the estimated annual earnings, the length of the unbonding period, and the minimum amount needed to earn rewards. For nominating directly, the maximum number of validators you can nominate is also displayed.
Some of that information is displayed at the bottom of the staking page as well.
The estimated earnings displayed are the network average. The actual percentage will depend on the nominated validators (either by you directly or by the nomination pool), and, in the case of a pool, any commission the pool may charge. In any case, these are estimated, average returns based on current parameters, which may change, and the daily rewards will fluctuate.
7. Enter the amount you want to stake (we have now selected Westend as the network). Your available balance is also shown above the amount field.
8. Click on the drop-down menu below to select the nomination pool you want to join or the validators you want to nominate.
ℹ️ GOOD TO KNOW
For Polkadot and Kusama, when joining a pool, the "Subwallet Official" pool is preselected. You can select a different pool or click on the "lighting" icon to reset the default choice.
9. In the screen that opens up, you can select either the pool you want to join or the validators you want to nominate.
10. Once you've made all the selections, you are ready to stake. Click on "Stake" to join the pool or nominate your selected validators.
11. A final screen will open up to review the details of the extrinsic. Click "Approve" to start staking!
Options when joining a pool
An account can be a member of only one nomination pool at a time. To switch pools, you need to leave the current pool first, which involves waiting the full unbonding period. So, make sure you are comfortable with your choice!
Read our article "How Do I Know Which Nomination Pool to Choose?" for things to consider when deciding which nomination pool to join.
Before choosing the nomination pool you want to join it is highly recommended that you click on the three dots on the right to see information about each pool, like its status, the total amount bonded in the pool, and the number of members.
By clicking on the small "filter icon" you can also filter the list based on the status of the pool. It is highly recommended that you enable the "Active" filter so you'll see only pools that are currently active. Click "Apply filter" to apply it to the list of pools.
You can also change how the displayed pools are sorted, based on pool member count or total bonded amount. Click the small "sort icon" on the top right to apply the sorting you like, or click "Reset sorting" to reset to default.
Finally, you can also search for a pool by its name, if you are looking for a specific pool. In this example, we want to join the Web3 Foundation TechEd pool.
Options when nominating directly
Before making your selection of validators, we highly recommend that you read our article "How Do I Know Which Validators to Choose?" for advice on how to make that choice.
ℹ️ GOOD TO KNOW
When directly nominating with Subwallet your staking rewards will be added to your existing stake (compound).
When selecting validators, you should click on the three dots next to the validator to display important information about it, like their total stake, broken down as their own stake and stake from others, their estimated APY, and their commission.
Each validator's commission and APY is shown on the selection screen as well.
You can also sort the validators based on their commission, their APY, or the minimum stake needed to earn rewards from that validator. Click on the small "sort icon" on the top right to apply the sorting you like, or click "Reset sorting" to reset to default.
ℹ️ GOOD TO KNOW
With the increase of the oversubscription limit on Polkadot and Kusama to 512 nominators per validator, very few validators are now oversubscribed, so sorting based on "Lowest min active stake" won't provide any meaningful sorting for Polkadot and Kusama.
Finally, you can search for validators by name, if you want to nominate specific validators.
To select your preferred validators, click on the tick icon next to the ones you want to nominate. The icon will turn green for your selected validators, and the total number of selected validators will show at the bottom.
Click on "Apply X validators" to finish your selection.
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Disclaimer: We always strive to provide you with the best support we can and we take all care to ensure that our instructions are accurate and concise. However, following these instructions properly, as well as the general management of your accounts and funds, is ultimately your responsibility. Web3 Foundation cannot be held liable for any accidental loss of funds or any other damage you might incur.