1. Access the Reverse Staking Page:
- Navigate to the Reverse Staking section on the Valinity dApp.
2. Open a New Pool:
- Look for the option/button labelled “Open a Reverse Staking Term” or similar.
- Click to initiate the process of creating a new pool.
3. Review Pool Details:
- Before proceeding, read the fine print or details associated with the pool.
- This typically includes information about staking duration, rewards, penalties, etc.
- Ensure you fully understand the terms of the contract.
- If unsure, consider seeking clarification or consulting with knowledgeable peers.
4. Initiate the Contract:
- Once you’re confident in understanding the terms, proceed to initiate the contract.
- Follow any on-screen prompts or steps to finalize the creation of your pool.
5. Pay the ETH Gas Fee:
- You’ll be prompted to pay a gas fee in Ethereum (ETH) to process your staking.
- Confirm the amount and authorize the transaction using your connected wallet.
6. Receive ETH Rewards:
- Upon successful payment of the gas fee, you’ll immediately receive your Ethereum yield rewards.
- The exact amount of ETH rewarded will be indicated or can be seen in your wallet.
7. Locking of VY Tokens:
- After the contract initiation, your VY tokens will be automatically locked in the Reverse Staking treasury.
- These tokens will remain locked for the duration specified in the pool’s terms.
8. Monitoring and Management:
- Regularly check the Dashboard page to monitor the status of your staked tokens and any accumulated rewards.
- Remember to claim any additional rewards or manage your staking terms as needed.