Official Guide for Claiming SKL Rewards and Changing Delegation
Beginning on December 1st at 12:00 AM UTC, early users of the SKALE Network will begin to satisfy their proof of use period and therefore be able, among other things, to turn off auto delegation and freely transfer their tokens to another address or delegate to a new validator. The first batch of early users who satisfy their proof of use requirements will be those who have staked on the first two SKALE Network epochs, which initiated on October 1, 2020.
All users who satisfy their proof of use requirements should please refer to this document as the source of truth for instructions on how to claim and stake on Activate. Any other documentation has the chance to be misleading and is not endorsed by Codefi Activate or SKALE.
Please also follow the Activate Telegram group and see the SKALE Staking FAQ for more information and updates. If you are encountering an issue, please contact customer support at https://activateteam.zendesk.com.
Before you claim your rewards, stake your tokens with a new validator or undelegate, please ensure you have sufficient ETH in your registered wallet to cover the gas costs associated with the transactions.
STEP 1: Changing Delegation
Following the completion of the second epoch, users who have satisfied proof of use and turned off auto-renew will be able to transfer their SKL tokens to any address or re-delegate their tokens to a new validator. If you would like to continue staking then no action is required and you can proceed to Step 2 below. If users wish to change delegation they must turn off auto-renewal before November 29th at 12:00 PM ET. If auto-renewal is not turned off then users tokens will continue to be delegated in two-month increments for Epoch 3 and 4 until January 31 and so forth. Turning off auto-renewal will undelegate your tokens and you will stop receiving delegation rewards. When you redelegate the new epoch starts on the 1st of the following month (00:00 UTC time), until which time you do not receive delegation rewards. You can redelegate at any point during the month, and the delegation will start automatically once accepted by the validator on the 1st of the following month.
To turn off auto-renewal, navigate to the Token Inventory page, where you will find the auto-renewal button in the bottom right-hand corner. After clicking the button, you will be prompted to confirm cancelation by making an on-chain transaction. Once the transaction is successfully completed users tokens will be readily available to them the day following the conclusion of the second epoch ended November 30th at 12:00 PM ET.
STEP 2: Claim Your Rewards
Delegation rewards for PoU period and for each subsequent epoch become available for claiming within several days after the end of each epoch/month. You can claim your rewards at any point in time. They will never expire, and always will be assigned to you in a smart contract.
Following the completion of the November epoch, rewards that users earned staking during the first two epochs can be claimed and transferred. Once you login, navigate to the Token Inventory page. Click ‘Claim SKL’ to launch the token claiming pop-up window and view the summary of your SKL rewards earned during the first two epochs. NOTE: you need to have sufficient ETH in your wallet to claim your rewards (est. ~$20.00 at time of posting).
Click ‘Retrieve my SKL tokens’ to initiate the transfer request. This should open up a modal for your registered wallet for confirmation.
When will longer delegation periods be available?
According to the information from SKALE Network, longer delegation periods will likely be introduced 9-10 months after genesis after introduction and approval via governance process. Until that time there is a 2 month staking period available to all network supporters.