DeFi is a booming market with many opportunities for yield. The problem is, though, how long are you willing to keep your assets in a high-yield, high-risk pool? Five-figure APY doesn’t mean much if you get rugpulled after one week.
Security is an integral component of any savvy investor’s decision making. Here at CertiK, we’re proud of our reputation as the leading blockchain security firm. We’ve audited hundreds of projects securing over $70 billion in assets.
That’s what differentiates the double-digit APY you can earn in the CertiKShield collateral pool from other yield-bearing opportunities. As a CertiKShield collateral provider, you’re staking with the best in the security business while earning ~10x what’s on offer from centralized crypto institutions and 100x what any bank can provide.
CertiKShields are only available to projects that have passed our rigorous auditing process, meaning the risk of a payout due to covered loss or hack is greatly diminished. Many projects also take advantage of our full suite of security solutions, including Skynet and Security Oracle.
Now that we’ve gone over why you want to stake with CertiKShield, let’s run through how to stake in three easy steps.
As CertiKShield runs on CertiK Chain, you’ll need to create a new wallet.
You can do this at wallet.certik.foundation. You’ll get your CertiK Chain address and passphrase. Two-factor authentication adds another layer of security to your account.
Staking in the CertiKShield collateral pool is a two-part process. First, you need to delegate your stake to a validator node.
To do this, click the Shield tab from your DeepWallet dashboard. Then click Deposit.
From the Deposit page, click Add Stake.
You’ll then see the list of validator nodes to which you can delegate your stake. Validators each have different voting powers and commission rates, so take a look through before settling on one.
Confirm the transaction that will delegate your stake, then click back to the Shield tab.
From the Shield homepage, hit Deposit again.
On the same screen we used earlier, you’ll now see that you have a positive staked balance. Next, we’ll deposit that stake to the collateral pool so it can begin earning yield.
Enter in the amount of your staked balance you wish to deposit. Make sure to subtract the gas fee from your total balance if you’re depositing the maximum amount. Confirm the transaction then wait a second for it to complete.
That’s it, that’s all it takes to be a CertiKShield collateral provider. You can sit back, relax, and let the yield flow in, safe in the knowledge that your assets are secured by the best in the business.
When the time comes to harvest the fields of your yield farm, collecting rewards can be done easily from the Shield dashboard. Next to the current APY reward are the earnings figures. Simply click Collect to harvest the rewards you’ve earned.
Staking your CTK to the CertikShield collateral pool is quick and easy. With a lucrative APY on offer from an industry leader that puts security first, it makes more sense than ever to put your assets to work.