Hey there,
if you are interest in delegating your ADA, but you do not know how, the following guide is for you. Let’s start with a basic question:
Why would I delegate my ADA?
You can earn rewards from delegating your ADA to a stake pool, because you are helping to secure the blockchain and by delegating to SHARE, you also support a good cause (see here).
Additional Info:
Staking explained by the Cardano Foundation (here) & Info from IOHK (here)
Rewards Calculator (here)
Dislcaimers:
(1) Delegating your ADA to a stake pool does not put your funds at risk. You are not sending your ADA to us and you can still deposit and withdraw them – at any time.
(2) You might want to check the tax law in your jurisdiction regarding staking.
(3) We will never ask you to send ADA to one of our adresses. Take care of scammers!
If you have any question, feel free to reach out to us directly on telegram or DM us on twitter and Instagram, we would love to help.
Delegation Guide (with 3 options):
In order to be able to delegate your ADA to SHARE, your funds need to be in a wallet with delegation functionality. There are a few options, but we suggest the following wallet for the ‘average’ Cardano user to start with:
YOROI Wallet – official website (here)
YOROI is designed by an official Cardano entity (Emurgo) and, therefore, is a trustworthy and secure wallet. It does not require you to download the entire blockchain (unlike Daedalus e.g.). It is the most user-friendly wallet, as well as simple and fast. YOROI comes as a browser extension for Chrome, Edge and Firefox or as a mobile app for Android and iOS, and you can use it as an interface for your hardware wallet (Ledger / Trezor device).
The following guide provides three different options to delegate:
1) Through the YOROI – Mobile App (Android / iOS)
2) Through the YOROI – Browser Extension (Chrome/Firefox/Edge)
3) Through the YOROI – Browser Extension (Chrome/Firefox/Edge) + Hardware Wallet (Ledger/Trezor)
1. Mobile App Guide
Mobile app; make sure you fulfil the following prerequisites:
– Download the YOROI – Mobile App (here)
– Create a wallet in YOROI (Tutorial & !SAVE THE RECOVERY PHRASE SECURELY! )
– Fund the wallet with at least 10 ADA
After you have created and funded the wallet:
1) Open the YOROI app on your phone.
2) Click on “Delegate” in the bottom right corner.
3) Search for “SHARE”.
4) Press “DELEGATE”.
5) Enter your spending password & press “DELEGATE”.
Disclaimer: If this is the first time you are delegating to a stake pool, the transaction fee includes a 2 ADA fee for registering your address for staking on the blockchain. The transaction doesn’t mean you are sending your ADA somewhere.
6) Go to the tab “Dashboard” and check if your ADA is delegated to SHARE. (usually takes a few seconds to update)
If successful, your ADA is now delegated to SHARE 🤗🥳 Thank you for your trust & get ready to receive rewards in the near future!
Congratulations & thank you, if you successfully delegated to SHARE. We are open to suggestions for making this guide better. Feel free to write us directly through social media or leave a comment below.
Best wishes,
your SHARE stake pool
2. Browser Extension (+ Hardware Wallet) Guide
Browser Extension; make sure you fulfil the following prerequisites:
– Download the YOROI – browser extension (here)
– Create a wallet in YOROI (Tutorial & !SAVE THE RECOVERY PHRASE SECURELY! )
– Fund the wallet with at least 10 ADA
– Get familiar with blockchain-tech and, ideally, make couple of ADA transactions before (e.g. from exchange to wallet / between wallets)
Browser Extension + Hardware Wallet; fulfil the following prerequisites:
– Download the YOROI – browser extension (here)
– Configure your hardware wallet device and connect it to YOROI (Ledger Tutorial / Trezor Tutorial)
– Get familiar with blockchain-tech and, ideally, make couple of ADA transactions before (e.g. from exchange to wallet / between wallets)
Step 1:
1) Open the YOROI browser extension and klick on “My wallets” (on the left side). Then select and open the wallet you created.
2) Go to the tab “Delegation List”.
3) Search for the stake pool by typing “SHARE” or enter the stake pool ID: ea7cdd8918204b6c53e41ac6b0c319a1ffa95312660eeeb2ced8be3a
4) Press on “Delegate”.
Step 2:
1) Check if you selected SHARE correctly.
Disclaimer: If this is the first time you are delegating to a stake pool, the transaction fee includes a 2 ADA fee for registering your address for staking on the blockchain. The transaction doesn’t mean you are sending your ADA somewhere.
2) Browser Extension: Type in your spending password, then press “DELEGATE” and proceed to the dashboard page if successful. Your ADA is now delegated to SHARE 🤗🥳 Thank you for your trust & get ready to receive rewards in the near future!
2) Browser Extension + Hardware Wallet: Press on “DELEGATE”, then connect your hardware device to the computer, press “CONTINUE” and proceed below.
Step 3 (ONLY for Browser Extension + Hardware Wallet):
1) Start new transaction? YES (click right)
2) Shows transaction fee (click right)
3) Shows current epoch and slot of the blockchain (click right)
4) Verify if the stake pool ID is the one from SHARE, if correct click right:
(Our Pool ID: ea7cdd8918204b6c53e41ac6b0c319a1ffa95312660eeeb2ced8be3a)
5) Shows your staking key (click right)
6) Confirm delegation? YES (click right)
7) Confirm transaction? YES (click right)
If successful, your ADA is now delegated to SHARE 🤗🥳 Thank you for your trust & get ready to receive rewards in the near future!
Check if you are delegating to SHARE in the browser extension:
1) Go to tab “Dashboard”
2) Scroll down and see if your ADA is delegated to SHARE. (Sometimes it takes a couple of seconds to show up)
Congratulations & thank you, if you successfully delegated to SHARE. We are open to suggestions for making this guide better. Feel free to write us directly through social media or leave a comment below.
Best wishes,
your SHARE stake pool