Terra StakeDrop Tutorial Using Terra Station: How LUNA Holders Can Participate in Persistence’s StakeDrop

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Persistence liquid staking

We recently announced our third StakeDrop campaign launching on the Terra Network on December 19th. LUNA holders and stakers may begin participating in StakeDrop as early as the 17th of December, 2020.

Read the full details here: link

The Terra StakeDrop campaign will run for approximately 25 days.

Magic Transactions for the Terra StakeDrop will go live on December 17, 2020, around 12:30 PM IST (block height: 1,003,400).

Stakers and delegators can send in their Magic Transactions after block height 1,003,400 to receive XPRT rewards as early as possible post-launch, December 19th.

You can also find a full tutorial for using Terra Station Wallet here.

Step 1: Go to ‘Staking’ in the left hand column and select a validator of your choice.

An additional 20% in XPRT rewards go to those delegating to our validator, AUDIT.one.

If a user has LUNA tokens in their wallet, they can stake those assets using Terra Station.

Step 2: Click on ‘Delegate’

Step 3: Input Delegation Amount

Step 4: Input Password and Confirm Delegation

After this step, you should see a dialogue box confirming the transaction was successful.

Participate in Persistence’s StakeDrop by Sending the Magic Transaction!

To confirm participation in Persistence’s Terra StakeDrop campaign, stakers/delegators need to send a Magic Transaction of 0.001 LUNA to a wallet address provided by Persistence on the Terra StakeDrop page, available from the StakeDrop section of our website.

Step 1: Go to the ‘Wallet’ Section of Terra Station and click on ‘Send’

Step 2: Send 0.001 LUNA to Persistence’s Designated Address (Magic Wallet Address).

The designated wallet address to send the Magic Transaction to will be made available in the StakeDrop section of the Persistence website on December 17th. Stakers need to copy that address and paste it into the ‘Send to’ field.

The ‘Memo’ field needs to contain the ERC-20 wallet address (example- MetaMask wallet) of the user. XPRT tokens will be dropped to this wallet after the Token Generation Event, made tradable after six months, then released on a vesting schedule.

Note: Magic Transactions sent before block height 1,003,400 will not be eligible to earn XPRT rewards for Persistence’s Terra StakeDrop.

Click on ‘Next’ to confirm the transaction.

Step 3: Input Password and Confirm Transaction

Please double-check your ERC-20 wallet address has been correctly inserted into the ‘Memo’ field before confirming the transaction.

If you use an incorrect ERC-20 wallet address provided, you will have to resend the Magic Transaction to update the XPRT receiving address.

After confirming the transaction, the staker/delegator has successfully participated in StakeDrop and will receive XPRT rewards!

Stakers can check out their rewards accumulated on the StakeDrop page of our website.

About Persistence

Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.

The Persistence chain facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.

Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.

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