We’re honored that you’re considering delegating with us! Please follow the instructions to learn about how to stake.
In order to delegate your Cardano (ADA), it first has to be in your own wallet. You can create and manage wallets using a wallet software like : Yoroi or Daedalus
1. Create a wallet with Yoroi
On the home screen, if you have a hardware wallet device, select that option and follow the pairing instructions. Otherwise, by default, you can select “Create wallet”.
The Yoroi wallet supports storage for both the Ergo and Cardano cryptocurrencies, and will thus ask you which currency you would like to create a wallet for. Select Cardano to continue.
The next option asks whether you would like to create a normal wallet or paper wallet. A paper wallet is suited for devices not connected to the internet. You can select “Create wallet” to continue.
In the next step, you can set the name and spending password for your wallet. Enter these, and select “Create Personal Wallet”.
The next section is the most important part for your wallet security. You will be asked to write down a “recovery phrase” of 15 random words for your wallet. These should be written down on paper, and stored safely. If this is lost, you will be able to recreate your wallet on any other device.
After confirming that you have written down the phrase, you will be asked to recreate your recovery phrase from the individual words, by dragging and dropping.
Your wallet has now been created! This will be the home dashboard when you open Yoroi now!
2. Transfer
In the “Receive” tab, you can find the wallet address that you will need to provide your exchange service in order to send your money to your wallet. You will need to follow the instructions for your exchange to do this.
Once you sent the money from your exchange to your wallet, after a couple minutes, you should be able to see the transaction in the “Transactions” tab.
3. Delegate
Finally, you can delegate! To do so, go to the “Delegation List” tab in Yoroi and search “HIPPO” in the search field.
Click the green “Delegate” button, The first time you delegate, you will need to submit a deposit of around 3 ADA. This deposit will be returned when you stop staking.
Enter your spending password that you selected when creating your wallet.
A popup should appear indicating that you have successfully delegated and take you to the Dashboard page. Scrolling down in your dashboard, you should see that you are officially delegated to HIPPO pool!
Please note that from when you delegate, it will be 4 “epochs ” (each epoch is 5 days, so 20 days total) before you see your first rewards.
This is because it will take 2 epochs for your delegation to become “active”, and then after the epoch in which your stake is active, one more epoch is required to calculate rewards before distribution.
Thanks for your support and I hope you have decided to stake with HIPPO pool !
If you have questions, contact us on twitter @HippoStake