A Step-by-Step Guide to Staking PAW Tokens

13 Nov 2023
4 min read

Earning Passive Income with PAW Tokens: A Comprehensive Guide

Are you looking to make your PAW tokens work for you? Whether you're a seasoned investor or just starting in the world of cryptocurrency, this guide will walk you through the process of staking your PAW tokens to earn passive income. The rewards are distributed in wPAW, which holds a 1:1 value with PAW and can be unwrapped using the PAW Chain system. If you haven’t yet purchased PAW tokens, visit the PAW Chain website for links to our DEX and Aggregator to find the best prices. PAW Ecosystem

Staking Your PAW Tokens: Step-by-Step

  1. Start Staking:
  2. Visit the PAW Staking Website and connect your wallet.
  3. Choose Your Staking Option:
  4. Select your preferred staking option and click the 'approve' button. If you're staking for the first time, your wallet will prompt you to approve a custom spending cap. Opt for the site-suggested option and approve the contract.
  5. Enter Staking Amount:
  6. Click the (+) icon next to your chosen staking option, enter the amount you wish to stake in the pop-up, and then confirm.
  7. Confirm the Transaction:
  8. Approve the transaction in your wallet and begin tracking your rewards in real time on the site. You can add multiple stakes to the same wallet as desired.

Managing Your Rewards: Collecting and Compounding

  1. Collect Your Rewards:
  2. To collect, click the 'collect' button beneath your stake and confirm the action through your wallet extension.
  3. Manually Import Tokens:
  4. If you don't see your rewards, you can manually add them to your wallet by importing the token contract addresses in your wallet extension.
  5. Compound Your Earnings:
  6. To reinvest your rewards, click the 're-stake' button, and follow the on-screen instructions, confirming both collection and restake on your wallet extension.

Unstaking Your PAW Tokens

  • When you’re ready to unstake, simply click the (-) icon on the staking option and confirm through your wallet extension.

Important Reminder:

  • It's crucial not to transfer your wPAW to other wallets without unwrapping it first to avoid complications.