1. You DO NOT need to unbond or unstake your tokens to begin using Yieldmos.
2. Navigate to the Blocks United Yieldmos page.
3. In the “Compound KAVA” box click “Select Strategy.”
4. Enter the number of tokens you would like to stake with Blocks United using the auto-compound strategy. Then, click “Next.”
5. Blocks United validator should already be selected. If not, search for us in the search box.
6. Confirm the details and enter your email address, if you’d like to be notified with updates on your position.
7. Approve the transaction in your wallet.
8. You will then see that you are staking KAVA as an active strategy and your rewards are being automatically compounded!
9. Click the icon in the top right corner to disconnect your wallet and you’re done!
At Blocks United our unofficial motto is, “Stake, claim, restake. Wash, rinse, repeat.”
The fastest way to accumulate tokens is to compound them as often as possible. The more you compound, the faster you accumulate tokens.
Daily compounding is ideal, but it’s tedious and many people just don’t have the time to do that.
Wouldn’t it be nice if the rewards automatically compounded?
Auto compound KAVA staking rewards with Yieldmos
According to the Yieldmos docs,
“Yieldmos utilizes authz grants to non-custodially claim your staking rewards and stake them on your behalf.
Yieldmos will auto compound your staking rewards once a day between 17:00 and 19:00 UTC or in the case of Osmosis and Evmos, after their respective epochs.
For networks with an APR >100%, Yieldmos will compound multiple times per day. While using this strategy, you maintain full ownership of your assets. At no time does Yieldmos have the ability to send your funds anywhere.”
YOU DO NOT NEED TO UNBOND OR UNSTAKE YOUR TOKENS TO BEGIN USING YIELDMOS!
The authz grant gives Yieldmos permission to claim and restake your currently staked tokens! And, you maintain complete control.
Keplr Wallet explains how simple it is to revoke these authz grants for any wallet user.
How to compound KAVA staking rewards with Yieldmos
The Yieldmos platform is super easy to use.
1. Navigate to the Blocks United Yieldmos page.
(see image below)
2. In the “Compound KAVA” box click “Select Strategy.” (see image below)
3. Enter the number of tokens you would like to stake with Blocks United using the auto-compound strategy. Then, click “Next.” (see image below)
Remember, you must have at least 1 KAVA token already staked with any validator to use Yieldmos.
4. Blocks United validator should already be selected. If not, search for us in the search box.
Leave the “Use Fine Grained Allocation” box unchecked and then click, “Next.” (see image below)
5. Confirm the details and enter your email address, if you’d like to be notified with updates on your position. (see image below)
6. Approve the transaction in your wallet. In this case we are using a Ledger connected to Keplr. (see images below)
Notice the expiration date for the auto-compounding strategy. The strategy is active for 3 months and then you must stake again with Yieldmos. So, if you didn’t give them your email address be sure to make a note on your calendar.
7. You will then see that you are staking KAVA as an active strategy and your rewards are being automatically compounded! (see image below)
Make a note on your calendar to log back into Yieldmos in 3 months to renew the KAVA autocompound strategy.
8. Click the icon in the top right corner to disconnect your wallet and you’re done!
Automatically compounding staking rewards is a wonderful convenience and Yieldmos makes it simple.
Thanks for staking with Blocks United. Welcome aboard!
Frequently Asked Questions
Rewards accrue each block, but are only paid out when you claim them. Claiming and restaking is a manual process, unless you use a service like Yieldmos. Yieldmos automatically compounds your rewards for 3 months at a time.
No, rewards are not automatically restaked unless you use a service, like Yieldmos.
Staking rewards accrue on-chain until you claim them.
No, KAVA staking is not compounded unless you grant authorization to a service, like Yieldmos.
Authz is generally considered to be safe. All a hacker could do is choose for your rewards to be delegated to a different validator. To revoke authz permissions check out this Keplr article.
The Yieldmos team said in their Telegram channel on April, 27, 2023:
“Since the user maintains custody of their assets, user funds never touch the Yieldmos wallet. Because of the way authz works, meaning you issue very specific permission to the Yieldmos wallet, if it was to be compromised, the wallet can only do what the user authorized it to do. In this case, claim staking rewards and delegate them to a validator, but not send or transfer.”
Other articles to check out
Nothing we say is financial advice or a recommendation to buy or sell anything. Cryptocurrency is a highly speculative asset class. Staking crypto tokens carries additional risks, including but not limited to smart-contract exploitation, poor validator performance or slashing, token price volatility, loss or theft, lockup periods, and illiquidity. Past performance is not indicative of future results. Never invest more than you can afford to lose. Additionally, the information contained in our articles, social media posts, emails, and on our website is not intended as, and shall not be understood or construed as financial advice. We are not attorneys, accountants, or financial advisors, nor are we holding ourselves out to be. The information contained in our articles, social media posts, emails, and on our website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation. We have done our best to ensure that the information provided in our articles, social media posts, emails, and the resources on our website are accurate and provide valuable information. Regardless of anything to the contrary, nothing available in our articles, social media posts, website, or emails should be understood as a recommendation to buy or sell anything and make any investment or financial decisions without consulting with a financial professional to address your particular situation. Blocks United expressly recommends that you seek advice from a professional. Neither Blocks United nor any of its employees or owners shall be held liable or responsible for any errors or omissions in our articles, in our social media posts, in our emails, or on our website, or for any damage or financial losses you may suffer. The decisions you make belong to you and you only, so always Do Your Own Research.