Prepare: Setup your wallet

This page explains in just 2 steps how to setup your wallets in a secure way to be used for staking.

Step 1: Wallets

Don’t have an LTO Network wallet yet? Create 1 at need mainnet tokens to be able to stake (be part of the network with your tokens).

  • Have Investor Seed (Waves) tokens? Transfer them using the Waves Token Swap option in your freshly created wallet.

“Waves Token Swap” option in LTO Network Wallet
  • You have ERC20 tokens (Crowd sale)? Transfer them to mainnet tokens using the bridge function in the wallet interface (fee: 40 LTO).

Bi-directional Token Bridge

The wallet you just created is (will be) your personal wallet. We’ll want another wallet which we’ll use just for staking. This new wallet will also receive the earnings. Go ahead and create another wallet. We’ll use the lease function of the LTO Network to lease your tokens from your personal wallet to the 2nd wallet.

As always make sure to write down the seeds of your wallet(s). You can use these to recover your wallet later if needed. Also you’ll need the seed later on when configuring your Public node.

Step 2: Leasing

Next step is creating your lease. You will want to lease your tokens from your personal wallet (Wallet #1) to your 2nd wallet (the wallet we’ll use for the node).

Screenshot of the Leasing page in the LTO Network wallet interface

As a first step click the “Start lease” button:

  • Specify the recipient: <the address of your 2nd wallet>

  • Specify the amount (max = balance minus fee): <enter a number>

Click Start lease and confirm to activate.

A successfully activated lease from Wallet #1 — Personal wallet

You can check out your 2nd wallet and see the lease was successful.

A successful lease from Wallet #2 — Node

You’ll need at least 1.000 LTO in your wallet to be able to run a node. You probably want to make sure you have 10.000+ LTO. You can utilize the Community ROI calculator to calculate your possible benefits.

Next up is configuring your Public node. You can choose from multiple deployment methods. The next paragraphs will go into more detail for each of these methods. Happy staking!