How to stack STX (Stacks)
Stack and delegate any amount of STX to Chorus One and receive rewards in BTC
Note: This guide provides all information for stacking STX easily by delegating to the Chorus One pool.
Currently, delegations are manually accepted. To make sure your assets are correctly locked to secure the chain, please, contact us at staking@chorus.one.
More information about delegated stacking: https://app.stackingdao.com/
Contents:
4. How to stack STX? A step-by-step guide
5. How to undelegate your stacked STX?
6. How to increase your delegated STX amount?
Key Information
Chorus One pool address:
SP2A2HGHMS3EQYRS8E0ACQ64DMS3P6C57A6VBE45VYou do not transfer ownership of assets to the pool. With delegations, your stacked tokens remain in your wallet for the entire duration.
A stacking cycle occurs every 2100 Bitcoin blocks are mined. This takes approximately two weeks and varies depending on network conditions. The tokens are locked for the entire rewards cycle.
Due to the nature of pool stacking, rewards payouts frequency is at the discretion of the pool operators and there is no auto-compounding.
Stackers must confirm their intention to lock STX before the preparation phase of the next cycle begins. Chorus One does that for you via delegated stacking for as long as the delegation remains active.
The original STX tokens are unlocked at the end of the cycle. They will be re-locked for the next cycle by Chorus One until you either undelegate or when your delegation to us expires.
Miners control the annual percentage yield (APY). They manage their profitability based on the prices of BTC and STX. The average APY is around 6-10%
Unlike other chains, the Stacks network currently does not have any slashing mechanisms. This means you cannot lose your stacked STX.
Rewards will be paid at the end of every cycle. Chorus One reserves the right to accumulate enough rewards to cover for transaction costs.
What is Stacks
Stacks utilizes Bitcoin's Proof of Work (PoW) consensus mechanism to secure its own blockchain layer that enables smart contracts and decentralized applications (dApps) to be built on top of Bitcoin.
Specifically, Stacks is a novel layer built on top of Bitcoin that introduces smart contract and dApp functionality without altering Bitcoin's core protocol. This integration is achieved through Stacks' Proof of Transfer (PoX) consensus mechanism, which reuses Bitcoin's PoW to secure the Stacks network.
By leveraging Bitcoin's PoW security model, Stacks aims to extend the utility of Bitcoin, the most decentralized and secure blockchain, by enabling smart contracts that can directly interact with Bitcoin's state and transactions. This allows Stacks to facilitate the growth of the Bitcoin economy by turning BTC into a productive asset and enabling a wide array of decentralized applications.
While Stacks has its own global ledger and execution environment for smart contracts to avoid overwhelming the Bitcoin blockchain, it secures this parallel layer by reusing Bitcoin's PoW consensus, providing a novel solution to the challenges of developing smart contracts on Bitcoin's base layer.
Why should you stack STX?
Stacking is locking your STX temporarily to support the Stacks blockchain’s security and consensus mechanism. As a reward, you earn Bitcoin that miners transfer to you as part of Proof of Transfer mining. In the same way that Bitcoin miners run mining software to support the Bitcoin blockchain and earn BTC, you can support the Stacks blockchain and earn BTC just by buying and locking up STX tokens.
How to stack STX with Chorus One?
1. Visit lockstacks.com and connect using one of the supported wallets
2. Click on "Stack in a pool"
3. Select "Custom Pool" and enter this address:
4. Type in the amount you want to stack
5. Pick the duration of the delegation.
We recommend indefinite permission (you can revoke it at any time), but you can also pick "Limited permission" for any duration between 1 (~2 weeks) and 12 (~5-6 months) cycles.
If you wish to undelegate, you should do it before the preparation phase of the next cycle.
6. Click on "Confirm and pool" and sign the transaction.
After confirming, you will be redirected to the pooling information page.
It might take a while for your delegation to show up there. It takes a few minutes usually, but sometimes it can take up to 2 hours or longer.
You might see an error message: "Error while loading data, try reloading the page." during this period.
7. Please send us the stack address that you delegated from and the BTC address for rewards.
The rewards will be paid at the end of every cycle.
How to Undelegate your stacked STX?
1. Visit https://lockstacks.com/pooled-stacking-info and click on "Stop pooling"
2. Confirm using the connected wallet
3. Your tokens will unlock at the end of the current rewards cycle and Chorus One will no longer be able to lock them for the next cycles.
How to increase your delegated STX amount?
In order to increase the delegated stacking amount on Stacks, you need to first undelegate the original funds and make a new delegation with the new amount.
Ideally this should be done during the unlock phase at the end of the current cycle.
1. Visit https://lockstacks.com/pooled-stacking-info and click on "Increase pooling amount".
Note: You will need to sign in with your wallet to access this page.
You should see this message:
"To increase the amount of STX you must first stop the current pool and start pooling again, your pool operator can then lock a higher amount for the next cycles."
2. Click on "I understand I want to stop pooling" and confirm the transaction
3. Go through the steps in "How to stake STX with Chorus One" again with the new stacking amount.
You can skip the last step in these instructions if your stacks and rewards addresses remain unchanged.
For more information, please see https://docs.stacks.co/stacks-101/stacking
A Note to Institutional Investors
If you are an institutional investor looking to stake Stacks (STX) with Chorus One, please reach out to us via our staking request form.
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