In our most recent update, we rolled out the UI additions for "Staking V2" which includes a staking delegate feature. Simply put, this allows one wallet to perform tasks for another. We've teamed up with Gelato, and because of this collaboration, if you're staking $KWENTA, you can automatically compound your staking rewards on Optimism. This is all thanks to the recently launched staking V2 contracts.
It's important to note that Gelato bots only help you compound your rewards. They don't have access to manage your entire staking account, so there's less risk, when delegating to a hot wallet.
Gelato Tutorial - Automated Claiming
Fund Your Gelato Account
- Connect your wallet with the staked Kwenta & deposit some ETH onto your Gelato account https://app.gelato.network/funds
These funds will be used to pay for transactions to claim for you; recommend $15-$25 worth of ETH as transactions on Optimism costs an average $0.25.
Putting in place necessary approvals
With a connected wallet, hit the settings wheel in the right corner
-
Find your Message Sender Address
-
Copy this address or leave the tab open to come back to at a later time
Head to the Kwenta staking dashboard, connect the wallet which is currently staking $KWENTA, and find the Delegate Tab
- Paste your Message sender address into the delegate field and submit the transaction
Delegates can be removed via the revoke feature in the
Managesection.
Setting up Auto-Compounding
Create a task on app.gelato.network
-
Enter the Kwenta
stakingRewardV2contract address0x61294940CE7cD1BDA10e349adC5B538B722CeB88 -
Select the
compoundOnBehalffunction from the dropdown of choices -
Enter the address which has the staked $KWENTA
Note Gelato will prompt you to add your msg.sender address as an approved delegate if you haven’t already (we did)
- Click "Time" & enter how long from today the next time this transaction should execute
-
Choose how to pay for the transaction (Gelato Balance)
-
Name the task & Create the task (execute the transaction)
Join the Kwenta Community
If you haven't already, join the Kwenta community on Discord.
To be the first to learn about new updates to Kwenta, follow us on Twitter.
To trade synthetic assets and futures, visit Kwenta.