KLO staking v2 introduces veKLO and esKLO to better align the Kalao platform and its stakers. This guide gives you a full overview of how to stake and earn yield on your KLO. For more info about the tokenomics behind staking v2, check out our recent blog post.
Step 1: Staking KLO
Kalao currently supports the following wallets: Metamask, WalletConnect, Coinbase Wallet, Frame
Make sure you are on Avalanche C-Chain and have a small amount of AVAX to pay for gas fees.
If you don’t see Avalanche C-Chain (Chain ID 43114) in your wallet, add it as a new network. Chainlist allows you to do so easily.
How to stake KLO on v2
- Visit the KLO staking page (V2) & connect your wallet in the top right corner
- Click on “Protocol Rewards (KLO)”
4. Done! You are now earning rewards
Step 2: Managing rewards
75% of marketplace fees (in WAVAX) will be distributed to stakers based on their veKLO balance. Stakers also receive esKLO rewards according to their KLO holdings.
veKLO gives you a bonus on rewards based on how long you have been staking for. It serves no other use cases and can’t be sold.
veKLO acts as a boost on your staked KLO. Your veKLO balance will start at 0 and linearly increase until it reaches a max boost of 300% after 183 days.
Example: If the base APR is 10% in WAVAX and you have a boost of 200%, you have an effective APR of 30%.
Unstaking any amount of KLO burns all accumulated veKLO.
Stakers receive KLO token rewards in the form of esKLO (escrowed KLO). esKLO earns WAVAX and esKLO rewards just like normal staked KLO.
Unlike staking v1, you don’t earn “normal” KLO, but esKLO. You can’t sell esKLO directly. You have to deposit esKLO in the KLO vesting vault. This converts your esKLO to KLO. More on this in the section “Vesting”.
You can monitor your esKLO balance on the staking page.
How it works
You can check your available rewards on the staking page
You will only see KLO rewards claimable if you are currently vesting your esKLO.
You can either compound or claim rewards
Compounding stakes your pending veKLO and esKLO to increase the amount of future rewards you will receive. esKLO can be unstaked and vested later. WAVAX rewards will be sent to your wallet.
Claiming transfers pending WAVAX and esKLO rewards to your wallet (and KLO rewards once vested)
You can convert esKLO into KLO via linear vesting over 183 days.
Click on deposit for the KLO Vesting Vault
The average amount of KLO tokens that was used to earn the esKLO rewards will be reserved for the vesting period (183 days). KLO, veKLO and esKLO can be used interchangeably for the reserve amount.
Every second, esKLO will be converted into KLO, linearly over 183 days. esKLO tokens that have been converted to KLO can be claimed anytime.
During vesting, staked tokens will continue to earn rewards while the esKLO that’s getting vested will not.
If you unstake early, vesting will pause. You can continue vesting anytime by depositing the required amount of KLO into the vault.
Unstaking any amount of KLO burns all veKLO. Unstaking also pauses vesting of esKLO rewards. If you are in the KLO vesting vault, you first have to withdraw from the vault before you can unstake.
You can transfer your KLO stake including esKLO and veKLO to another wallet address.
Please only use this for full account transfers!
This will transfer all your KLO, esKLO, and veKLO to your new account.
Transfers are only supported if the receiving account has not staked KLO.
Transfers are one-way, you will not be able to transfer staked tokens back to the sending account.
You will first need to initiate the transfer with your current account and in a second step connect with your new account and confirm the transfer.
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