I want to answer the question right away: what is it and how does it work
Staking rewards are awarded every 6 seconds, and every 6 seconds they can be withdrawn and sent back to the staking. Thanks to this, the total annual interest for staking will increase by several percent. In other words, this is the same as compound interest, or reinvestment of the received rewards
At the moment, this system can be activated in three ways:
- Terra Station mobile app
- Ledger (PC or phone)
- Via the Keplr extension in a browser on a PC
If you use Trust Wallet and also want to enable this system, then I have already written instructions on how to switch from Trust Wallet to Terra station. You can find it here
I would also like to say that these systems are not our developments. The first method was developed by the HappyCattyCrypto validator team, and other by the Eco Stake validator team. These guys have a lot of development experience, so everything will work stably
Also a few words about security: you grant us “Delegate” privileges via AuthZ. It is safe and can be revoked at any time. We will not be able to send coins, cancel delegation, or do other actions other than withdrawing rewards and re-delegating them. All awards will be re-delegated only to the validator they came from
Rewards will be automatically withdrawn and delegated every day at 01:00 am UTC when awards accumulate more than 1000 LUNC. These are the optimal values to get the maximum profit. The UST received as a reward will accumulate on the balance, and if desired, you can manually transfer them to LUNC and delegate them again
Additionally: all versions of the Auto Restake perform the same functions, only the activation method differs. Therefore, it is not necessary to activate both at the same time, as there may be errors in this case. It is better to choose one option that is more convenient for you
Additionally: delegated coins after activating the Re-Steak will also be taken into account, and you DO NOT NEED to activate it again every time
Now actually the instructions how to do everything
Method #1: Via the Terra Station mobile app
First you need to delegate your LUNC to the selected validator via Terra Station or any other way. If the coins have already been delegated, then you can go further. The list of validators that support Auto-ReStake of awards through this method is on the website Auto-Compounding (luncpenguins.com).
*in the mobile application, you need to stay in the wallet through which you delegated, if you have several wallets
*AFZAL is our validator “1% MAX fee”, it’s just called differently here
Go to the website: Auto-Compounding (luncpenguins.com) and click on the inscription “Connect Wallet (Station App)”
Next, we will be automatically transferred to the Terra Station mobile application to confirm the binding of the wallet. Click on the blue “Allow” button at the bottom of the screen
After that, we return to the site Auto-Compounding (luncpenguins.com) and check the box on top of the validator you selected, as in the photo
After that click on the “Grant Staking Auth” at the very bottom of the website. After that, you will be redirected to the "Terra Station" for confirmation.
After that, you will need to return to the site again, and click on the "Enable Auto-Compound" button that appears at the top of the website, after that, you will be redirected to the "Terra Station" for confirmation.
If desired, you can turn off the Auto-ReStake by clicking on the “Disable Auto-Compound” button, after which you will also confirm the action in the mobile application and the Auto-ReStake will turn off
After all that has been done, the list will display the current number of awards from the validator to whom you previously delegated your LUNC
Rewards will be automatically withdrawn and delegated every day at 01:00 am UTC when awards accumulate more than 1000 LUNC. These are the optimal values to get the maximum profit. The UST received as a reward will accumulate on the balance, and if desired, you can manually transfer them to LUNC and delegate them again
I am writing about the commissions for Auto-ReStake and why transactions with a commission of 3,700 LUNC appear in your history. 3,700 LUNC or so is the total commission for the execution of the contract, in which the coins are delegated to everyone who uses the ReStake, and it is paid not by the delegates, but by the author of the contract. That is, HappyCat. He pays a commission for transactions in advance, but at the end of the month everything is summed up, and the Validator pays from whom you stake. That is, I pay for the function of Auto-delegating the coins of my deligators. Thus, it turns out that using the Auto-ReStake function becomes even more profitable, since you stop paying the commission for re-delegation
Method #2: Via the Ledger (PC or phone)
First you need to delegate your luncs to the selected validator via Terra Station or any other way. If the coins have already been delegated, then you can go further. A list of validators that support Auto-ReStake of awards through this method is available on the REStake | Auto-compound your staking rewards
The supported validator on the right side has an inscription with what frequency the Auto-ReStake of rewards is triggered, and the one who does not support has a cross in this place
Next, follow the link and install the Keplr extension. At this point, be careful not to install a phishing extension that pretends to be the original. There is a blue check mark on the original site, and the number of users is more than 800,000
UPD: If you have problems connecting Ledger to Keplr, then try reinstalling Keplr, or using another Browser
After installation, in the upper right corner you will see this extension in the list of extensions
Click on it to open it
Press "Connect Hardware Wallet"
Press "Connect Ledger"
Fill in the empty fields and press "Use Terra Ledger app"
Connect and unlock your Ledger and press "Next"
Open the Terra app on your Ledgre device and press "Next"
Select Terra Classic and Cosmos Hub chains and press "Save"
Now go to the website: REStake | Auto-compound your staking rewards
Press "Connect" and "Connect Keplr Extension"
You will have the Keplr extension open for confirmation
Press "Approve"
After that, click on the validator you selected, then go to the "Satke" tab
Press "Enable REStake"
Again press "Enable REStake"
Press "Approve" and confirm on your Ledger
Ready, if you see the same window, then congratulations, you have successfully activated ReStake
If you don't have a PC, then this is not a problem, because you can use your phone. To do this, you need to download the Keplr mobile app and everything will be absolutely the same there. Just when going to the site https://restake.app/terra you will need to click "Connect Keplr Mobile"
Rewards will be automatically withdrawn and delegated every day at 01:00 am UTC when awards accumulate more than 1000 LUNC. These are the optimal values to get the maximum profit. The UST received as a reward will accumulate on the balance, and if desired, you can manually transfer them to LUNC and delegate them again
I am writing about the commissions for Auto-ReStake and why transactions with a commission of 3,700 LUNC appear in your history. 3,700 LUNC or so is the total commission for the execution of the contract, in which the coins are delegated to everyone who uses the ReStake, and it is paid not by the delegates, but by the author of the contract. That is, HappyCat. He pays a commission for transactions in advance, but at the end of the month everything is summed up, and the Validator pays from whom you stake. That is, I pay for the function of Auto-delegating the coins of my deligators. Thus, it turns out that using the Auto-ReStake function becomes even more profitable, since you stop paying the commission for re-delegation
Method #3: through the Keplr extension in the browser on a PC
First you need to delegate your luncs to the selected validator via Terra Station or any other way. If the coins have already been delegated, then you can go further. A list of validators that support Auto-ReStake of awards through this method is available on the REStake | Auto-compound your staking rewards
The supported validator on the right side has an inscription with what frequency the Auto-ReStake of rewards is triggered, and the one who does not support has a cross in this place
Next, follow the link and install the Keplr extension. At this point, be careful not to install a phishing extension that pretends to be the original. There is a blue check mark on the original site, and the number of users is more than 800,000
After installation, in the upper right corner you will see this extension in the list of extensions
Click on it to open it
Press "Import an existing wallet"
Press "Use recovery phrase or private key"
Next, we select the number of words in our mnemonic phrase from the wallet through which we were delegated, fill in each word, fill in the line with the wallet name and press "Import"
Fill in the empty fields and press "Next"
Select Terra Classic and Cosmos Hub chains and press "Save"
Here done!
Now go to https://restake.app/terra
Press "Connect" and "Connect Keplr Extension"
You will have the Keplr extension open for confirmation
Press "Approve"
After that, click on the validator you selected, then go to the "Satke" tab
Press "Enable REStake"
Again press "Enable REStake"
Press "Approve"
Ready, if you see the same window, then congratulations, you have successfully activated ReStake
Rewards will be automatically withdrawn and delegated every day at 01:00 am UTC when awards accumulate more than 1000 LUNC. These are the optimal values to get the maximum profit. The UST received as a reward will accumulate on the balance, and if desired, you can manually transfer them to LUNC and delegate them again
I am writing about the commissions for Auto-ReStake and why transactions with a commission of 3,700 LUNC appear in your history. 3,700 LUNC or so is the total commission for the execution of the contract, in which the coins are delegated to everyone who uses the ReStake, and it is paid not by the delegates, but by the author of the contract. That is, HappyCat. He pays a commission for transactions in advance, but at the end of the month everything is summed up, and the Validator pays from whom you stake. That is, I pay for the function of Auto-delegating the coins of my deligators. Thus, it turns out that using the Auto-ReStake function becomes even more profitable, since you stop paying the commission for re-delegation
I hope I was able to make the instructions clear and useful. I also want to remind you that we have our own validator “1% MAX fee” which also supports all variants of Auto-ReStake of awards. We will be glad to see your delegation
— — — — — — — — — — — — — —
Our Twitter and Telegram: @MAX_fee1
Our Gmail: 1maxfee@gmail.com
— — — — — — — — — — — — — —