Explore the Celo Ecosystem

Steakwallet allows you to dive deep into the world of Celo...

Last updated on February 16, 2022

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Steakwallet allows you to dive deep into the world of Celo. The Celo Explore center is your window into the Celo ecosystem – it's the place where you can come to learn more about staking assets on the Celo network, interact with your favorite dApps, explore new opportunities, and check in on the latest, as we showcase the hottest projects and alternative opportunities across the Celo network.

 

Celo is a decentralized blockchain platform focused on increasing cryptocurrency adoption among smartphone users (heavily focused on being ‘mobile-first’). By using phone numbers as public keys, Celo hopes to introduce the world’s billions of smartphone owners, including those without banking access, to transacting in cryptocurrency. The network also allows for the creation of smart contracts and decentralized applications amd has two native tokens. CELO is the Proof-of-Stake (PoS) token used for securing the network via staking, transaction fees, governance participation, and related activities. In the future, the platform aims to host various stablecoins, such as the Celo Euro (CEUR) and Celo Dollar (CUSD).

 

FAQs

How do you send Celo tokens into Steakwallet?

Steakwallet supports the management (and native staking) of CELO tokens. To send assets into your Steakwallet, navigate to the home screen and click on the asset you want to send. Please note, if the token you want to manage is not yet on your home screen, you must manually add it by [INSTRUCTIONS]. Once you select the token and are taken to that token screen, click Receive to access your wallet address. Next, select Copy address, or alternatively use the QR code to scan your wallet address, and send your tokens over from an exchange, another wallet, or wherever they are held. Congratulations, you're now using the best mobile wallet to manage your tokens! 🤝

How do you send Celo tokens out of Steakwallet?

If you need to send assets out of Steakwallet, navigate to that token screen and click on Send. Input the amount you would like to send (you can view the amount either in the native asset or in your preferred fiat currency) and select Next. If the transfer is subject to fees, note the network fee and total balance of the transaction. Next, input the Recipient address.

Please make sure that you are sending the funds to the correct wallet address. If you mistakingly send your funds to the wrong address or to a different network, you may lose all amounts sent.

Input a Memo if need be or you so desire, and then click Next. You'll be taken to a final confirmation screen and presented with an overview of the transaction. If all of the information looks correct, hit Send. That's it!

How do you stake CELO?

On the particular token screen of the asset which you want to stake, scroll down slightly to the Currently earning section and click on the Native staking card that gives an overview of the staking semantics (current APR, projected 5-day ROI, and any amount currently staked). Once you click on the card, you will be taken to the hub for staking that token. Click on Stake, read through and familiarize yourself with the basics on staking that token, and hit Let's go. Use the slide bar to select how much of your balance you would like to stake (alternatively, you can hit the percentage buttons to automatically select 25%50%, or Max of your funds). Take a look at the estimated annual return on that amount and any network fees associated with the transaction, and click Next. You'll be taken to a final confirmation screen and presented with an overview of the transaction. If all of the information looks correct, hit Confirm Stake and voilà!

For more information on staking, check out our step-by-step staking guide below.

When do you begin to earn CELO staking rewards?

When you start staking your CELO, you first lock your stake and then need to activate your vote after 24 hours. This means you must vote for a validator group to activate your stake and earn rewards. Steakwallet automates the vote so you only need to confirm your stake once.

After 24 hours and the vote being active, your staked balance earns rewards.

  • Stake Remaining Locked: If an error occurs when voting in the "Lock and Vote" process, Steakwallet will recognize you have non-voting locked CELO, and give you the option to vote with it.
  • Unlock Stake: If an error occurs when voting in the "Lock and Vote" process, Steakwallet will recognize you have non-voting locked CELO, and give you the option to unlock it.
How do you claim CELO staking rewards?

Your rewards for staking CELO will be automatically claimed and you will see your overall balance increase without having to go through any additional steps. Since your earned rewards are automatically added to your total staked balance, your staking income will compound and you will earn rewards on top of your rewards.

How do you unstake CELO?

If you'd like to unstake your assets, navigate to the given token staking screen and select Unstake and then Let's go. Please note that when you unstake your assets, you will be subject to an unbonding period in which you will not be able to use your tokens. Use the slide bar to select how much of your balance you would like to unstake (alternatively, you can hit the percentage buttons to automatically select 25%50%, or Max of your funds). Take a look at the associated network fee and click Next. You'll be taken to a final confirmation screen and presented with an overview of the transaction. If all of the information looks correct, hit Confirm Unstake and your funds will begin to unbond.

 

Staking Guides

 

Check out what’s new in the world of Celo on Steakwallet

 

Support

If you have need support or have questions for us, you can reach out to support@steakwallet.fi or join our Discord (and send a shout in our #support channel) to immediately connect with team members.

 

 
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