Greetings Shade Community,

Shade Protocol is bringing privacy-preserving SNIP-23 liquid staking derivatives to Secret Network, enabling users to secure Secret Network and other application protocols without exposing their privacy, all while earning staking rewards.

Simply purchase or mint a liquid staking derivative (such as stkd-SCRT) and immediately start to privately accumulate staking rewards while simultaneously putting your staking derivatives to work with liquidity providing, lending, trading, and more.

Requirements

• SCRT

• Keplr Wallet

• ~3 minutes of time

Key Links

Landing Page: https://shadederivatives.io/

Staking Derivative App: https://app.shadeprotocol.io/staking-derivatives

Contract: secret155ycxc247tmhwwzlzalakwrerde8mplhluhjct

Buy/Sell stkd-SCRT: https://www.youtube.com/watch?v=GONuj-Vud1E

Steps

1. Navigate to app.shadeprotocol.io/staking-derivatives

2. Connect your keplr wallet

3. Create stkd-SCRT viewing key

4. Stake SCRT, Mint stkd-SCRT

5. Withdraw Collateral + Rewards

Step 1 — Navigate to Shade Staking Derivatives Page

Navigate to the Shade Staking Derivatives Page which allows users to deposit SCRT to mint stkd-SCRT.

Link: https://app.shadeprotocol.io/staking-derivatives

Step 2— Connect Your Keplr Wallet

Click on the “Connect Keplr” button in the upper-right corner to connect your Keplr wallet to the application.

Your SCRT balance will appear once connected

Step 3— Create stkd-SCRT Viewing Key

Before minting stkd-SCRT via minting SCRT, you will first want to create your stkd-SCRT viewing key in order to be able to view your encrypted balance. To learn more about viewing keys, read the following article:

To create your stkd-SCRT viewing key, click on the “Get Viewing Key” button located on the right side of the webpage next to stkd-SCRT:

Next, click “submit” on the viewing key creation transaction:

Finally, approve the viewing key creation transaction:

After the successful creation of the viewing key, you should now be able to view your encrypted balance of stkd-SCRT:

Step 4— Stake SCRT, Mint stkd-SCRT

Next, enter in the desired amount of SCRT you’d like to stake, and mint the corresponding amount of stkd-SCRT by clicking “stake”:

Congratulations, your transaction succeeded and your stkd-SCRT balance is updated. and you are now passively earning staking rewards, while also being able to use your liquid stkd-SCRT token for buying, selling, and liquidity providing!

Step 5— Withdraw Collateral + Rewards

Overtime, your stkd-SCRT will actively earn auto-accumulated SCRT staking rewards that accrue to your token. To realize the rewards that accrue to your token overtime there are two options:

(1) Sell your stkd-SCRT instantly for SCRT (no 21 unbonding required)

(2) Deposit your stkd-SCRT, wait 21 days for your collateral + rewards

To buy or sell stkd-SCRT with no bonding times, use the following tutorial. To withdraw your collateral and rewards by depositing your stkd-SCRT first navigate to the “Withdraw” page:

Next, enter the desired amount of stkd-SCRT you would like to deposit — the corresponding SCRT that you will receive is your initial collateral + accrued staking rewards in the staking pool. Next, click “Withdraw”.

After the transaction succeeds, you will see that the stkd-SCRT has been updated accordingly. After the 21 day unbonding period completes, you can then withdraw your collateral and rewards. Scroll down on the staking page to the “unbonding” section and click on “Claim Unbondings”.

Finally, claim your unbonding after the next batch of collateral is available for claiming! Batch unbondings are done for security reasons:

Congratulations, you have now successfully claimed your unbondings. Welcome to the world of Shade staking derivatives (more products to come).

Shade Staking Roadmap

Q1 2022: stkd-SCRT

Q2 2022: stkd-SHD

Q3 2022: integrate with lending products

Q4 2022: governance + cross-chain staking derivative products

Shade Protocol Community

Stay tuned for more updates!

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Information provided in this post is for general informational purposes only and does not constitute formal investment advice. Please read the full disclaimer at shadeprotocol.io/disclaimer before relying on any information herein.