How to Stake Cardano (ADA) with Typhon Wallet: A Step-by-Step Guide
Typhon Wallet is a community-developed Cardano wallet known for its clean user interface, multi-account capabilities, and comprehensive feature set, including robust staking functionalities. This guide will walk you through the steps to stake your ADA using Typhon Wallet.
Introduction: Staking with Typhon Wallet
Typhon Wallet aims to provide a secure and feature-rich experience for Cardano users. It supports multiple accounts under a single seed phrase, making it convenient for managing different staking strategies or separating funds. Its staking interface is generally intuitive and provides good information.
Prerequisites:
- Typhon Wallet installed (typically as a browser extension).
- ADA funded in the Typhon Wallet account you intend to stake from.
Step 1: Accessing the Staking Section in Typhon Wallet
Once Typhon Wallet is set up and funded:
- Open your Typhon Wallet.
- Ensure you have selected the correct account if you use multiple accounts.
- Look for a prominent tab or menu option labeled "Staking," "Delegate," or similar. Typhon's UI usually has a clear navigation structure.
- Click this option to go to the staking management area.
Step 2: Finding a Stake Pool
In Typhon's staking section:
- You'll typically find a list of stake pools, possibly with sorting or filtering options.
- A search bar will be available to find stake pools by their name or, more reliably, by their ticker symbol.
- To delegate to Dotare.io, for instance, enter its ticker "DOTAR" in the search bar.
Step 3: Evaluating a Stake Pool in Typhon Wallet
When you click on a pool, Typhon Wallet usually displays useful statistics such as:
- Pool name, ticker, and often a link to their website or social media.
- Key metrics like ROA (Return on ADA), current saturation, margin fee, fixed fee, and pledge.
- Number of delegators and total stake.
Review these details carefully to make an informed choice. Typhon often provides a good summary.
Step 4: Delegating Your ADA
After choosing your stake pool:
- There will be a clear button like "Delegate" or "Stake to Pool." Click this.
- Typhon Wallet will then show a transaction confirmation dialog. This will detail the pool you're delegating to, the network transaction fee (around 0.17 ADA), and the 2 ADA refundable staking deposit.
- You will need to enter your spending password for the selected account to authorize the transaction.
Step 5: Confirming Your Delegation
Once the transaction is successfully processed by the Cardano network:
- The staking section in Typhon Wallet will update to reflect your new delegation.
- It will clearly display the details of the pool you are currently staked with.
Understanding Rewards & When to Expect Them with Typhon Wallet
For new delegators using Typhon, the first staking rewards typically arrive after an initial period of 15-20 days. After that, rewards are distributed every 5 days (at the end of each epoch) and are automatically added to your staked ADA, compounding your returns. Typhon often has a section to track your reward history.
Switching Pools or Undelegating (Briefly)
Typhon Wallet allows you to easily switch your delegation to another pool by selecting a new one and repeating the "Delegate" process. To undelegate completely and get your 2 ADA deposit back, there will be a "Deregister" or "Undelegate" option, usually found in the area displaying your current delegation status.
Troubleshooting/Common Questions
- Multiple accounts: Ensure you are performing the staking operation on the intended account within Typhon.
- Transaction pending? Network congestion can sometimes cause slight delays, but transactions usually confirm quickly.
You're all set! By delegating, especially to a pool like Dotare [DOTAR], you're earning rewards and supporting a cause. Check your rewards in a few epochs!
