Staking Instructions (Basic)

[Keith]

If you've accumulated some Guapcoin and are now ready to stake, this is the place for you!  It's actually a very simple process that's built in to the Guapcoin desktop wallet. Here's a good post that describes what is happening with staking/masternodes: Staking and Masternodes Explained

Staking Rewards: As of March 7, 2022, they are 5.25 Guap.  This will gradually decrease through the years.  More info here: https://www.guaptalk.org/topic/230-masternode-and-staking-rewards/

Requirements

1. Desktop wallet with at least 1,000 Guap in it.
2. Computer that stays running 24 hours a day without sleeping while that Guapcoin desktop wallet also stays running.
3. It's fine if the desktop wallet runs minimized or in the background.

 

Basic Steps

1. Open your desktop wallet
2. Make sure your wallet is unlocked for staking.  See the picture below.  It's not recommended to leave your wallet completely unlocked because anyone who opened your wallet could send the coins wherever they wanted, get your private keys, etc.
   1. 
3. Once you've done that, you can minimize your Guap wallet to your taskbar or system tray or leave it open, however you prefer.
4. Leave your wallet and computer running.
5. That's it.  So simple.  Nothing else is needed.

What to Expect

1. Staking rewards are auto-deposited to your wallet from the Blockchain.
2. Frequency of rewards:
   • The more coins you have in a wallet, the more often it will be chosen by the blockchain to provide proof of stake for transactions and thus receive staking rewards.
   • In general, my experience is if you stake 1,000-3,000, you’ll get a reward every 3-5 days or longer, but if you stake above 5,000, you’ll get a reward daily or every other day. It’s random and not guaranteed. It typically takes 1-3 days after staking before the rewards show up.
   • The more Guapcoins you have in a wallet address that's staking, the more regularly and frequently the rewards come.
   • Also, the more transactions that are flowing in the Guap blockchain, the more proof of stake is needed, and the more rewards will start flowing.
3. Each wallet address you have in your desktop wallet can be eligible, so you could stake multiple wallet addresses just by turning on staking in your wallet.

Monitoring your Stake Rewards

1. You will see your stake rewards in your desktop wallet Transactions feed on the home screen, and you can even filter the transactions to Minted if you want to only see your stake rewards.  In my example below, I named my staking wallet "Savings"
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2. You can also see your stake rewards on your home screen, to the right of the transaction feed.  You can filter/zoom by days, months, or years.
   • Important - where it says Amount of Guap staked, that's telling you how many total staking rewards you've received for all the wallet addresses in your desktop wallet for the period that you've filtered to and are currently viewing.  So in the picture below, it's showing that all wallet addresses earned a grand total of 90 guap in that 9 day period being viewed.
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Have fun staking!  It helps strengthen the Guap blockchain network, and helps you earn more Guap.  A true win/win!

[missims]

Very helpful 👊🏾