🔶Runes

Runes are tokens deployed on the Bitcoin blockchain, often carrying monetary value. Transactions involving runes incur a fee, similar to other blockchain-based assets.

• After selecting Runes as your reward type, you have two options to proceed:

  • Deploy

  • Delegate

Deploy

This option allows you to create Runes that did not previously exist.

• Specify the total supply for your new Runes, choose a name, and set the daily token emission per staked Ordinal.

• Before finalizing your project submission, ensure that all the details are accurate and set up according to your preferences, then click "Finish".

• After you click the "Finish" button, your collection will be submitted for review. Once your submission is approved by our admins, you can proceed with setting up the staking pool.

• You'll know that your submission has been approved when the "Setup Reward" button appears. Click the button to set up your Collection Wallet.

• Stakit will provide you with a new wallet and a Seed Phrase. This wallet will be used for everything when it comes to your collection management, and we have no control over it, so make sure to import this wallet into your prefered wallet provider (Xverse, Unisat, ME, etc).

• After you click "I Saved It", there is no way for us get this back for you. As we are fully non-custodial, we don't take any responsibility for this wallet.

• After saving the Seed Phrase and importing the wallet into your prefered wallet adapter, you'll be prompted to send an amount of BTC to the Deployment Wallet. This amount covers the deployment and transaction costs. After sending the BTC and inputting the transaction ID, you will have to wait 7 blocks for the Rune to deploy, which then will be transfered automatically to your Collection Wallet (the one that you imported into your wallet adapter).

• When the Runes appear in your Collection Wallet, you're good to go! Your community can come in and start staking their Ordinals and start collecting the Runes you just deployed. Congratulations!

Delegate

This method lets you allocate Runes that are already deployed on the blockchain and available in your wallet. Your holders can then claim their staking rewards from this pool of runes.

• Select the Delegate option and click "Next".

• Before finalizing your project submission, ensure that all the details are accurate and set up according to your preferences, then click "Finish".

• After you click the "Finish" button, your collection will be submitted for review. Once your submission is approved by our admins, you can proceed with setting up the staking pool.

• You'll know that your submission has been approved when the "Setup Reward" button appears. Click the button to set up your Collection Wallet.

• Stakit will provide you with a new wallet and a Seed Phrase. This wallet will be used for everything when it comes to your collection management, and we have no control over it, so make sure to import this wallet into your prefered wallet provider (Xverse, Unisat, ME, etc).

• After you click "I Saved It", there is no way for us get this back for you. As we are fully non-custodial, we don't take any responsibility for this wallet.

• After saving the Seed Phrase and importing the wallet into your prefered wallet adapter, you'll be prompted to select which Runes you wish to Delegate to your Staking Pool and to set up the Daily Emission rate. As an example here, your holders would be receiving 3000 BARRELS•OF•OIL Rune every 24 hours per staked Ordinal.

• After clicking the "Delegate" button and confirming the transaction, you are basically done. You will need to wait for the transaction to confirm on the Blockchain and once that's happens, your holders can start staking their Ordinals and start earning your delegated Runes.

Congratulations!

You’ve successfully set up your staking pool! We hope your community enjoys using Stakit and the ever-expanding range of features we’re developing. Our team is working tirelessly to ensure your experience is as seamless and intuitive as possible.