Newbie Problem - attempting to stake XMR

[walkonwayvs]

Hello everyone.

I am fairly new here so forgive me if this information is fair accessible - it’s just that I have been unable to solve this issue myself for a few weeks now so I thought this might be the place to seek help. On that topic, is there a discord or telegram channel for Incognito?? I didn’t see one anywhere on the main site.

Anyways, here are the rundowns of amounts in my accounts (lolz yay rhyming) to help explain my predicament:

Account 0 - 1 PRV
pDex - 0.1 PRV
pDexWithdraw - 0
pStake - 0 PRV and 0.105 XMR

All I want to do is start staking my XMR. I understand that in order to do so I need a certain amount of PRV, so I would like to be able to know what that amount/ratio needs to be in order to stake my XMR. Is there any way I can do this?

I am finding the whole process a little confusing and would really recommend someone create a full-on tutorial video to go through these processes. I have tried to deposit PRV funds from my Account 0 and pDex on separate occasions into my pStake account in order to cover the transaction fee needed for me to deposit my pXMR into the “Trade” section so that I can put that pXMR into the “Invest” section and thus receive staking rewards from it. But every time I do this nothing happens and I get quite overwhelmed pretty quickly having to jump between 4 different accounts in an attempt to do something that in all honesty I’m not entirely sure that I can do in the first place.

Any help would be greatly appreciated! I am a visual guy so I learn best from videos so maybe that’s why I can’t grasp any of the written tutorials in the forums here. But I will include a screenshot that might help explain what I’m up against.

[aaron]

That screenshot is saying you can’t deposit your XMR into the pDEX account because you don’t have enough PRV to pay the transaction fee. So first, you’ll have to send your PRV from account 0 to the pStake account.

Staking XMR is done by providing liquidity for the PRV<>XMR pair in the pDEX. Basically, you need to deposit your XMR into the pDEX account (go to “trade” and then click “deposit”), and then ensure you have PRV in that account as well. You then follow these steps to provide liquidity for the pair PRV<>XMR.

**Note: You have to provide equal liquidity for both sides of the pair. So basically, if you want to stake the XMR you have, you’d have to provide the equivalent value of PRV.

[walkonwayvs]

Ahhhh okay word man thank you @aaron! I tried several times to send my PRV from Account 0 to my pStake account but unfortunately the amount remains at zero. No worries though. For the moment I can’t afford to get that much PRV to match my XMR - but I hope to build that size up so that I can use the platform soon. I appreciate your quick response!

[Jamie]

There is a difference between staking (providing PRV to the Node pool), and becoming a liquidity provider (providing both coins of a trading pair).

The first one, which is what you seemed to be aiming at, only works for PRV. There is no use in sending other coins to that account manually. You won’t earn anything from it. If you want to stake, use the Stake PRV button on the home tab.

The info on providing liquidity is in Aaron’s answer.

You could, if wanted, move some PRV to the pStake account, then deposit your XMR to pDEX and trade it for PRV (read the screens carefully). Once you have PRV you can join the Node pool by using the Stake PRV button on the home tab.

[jason]

Hi @walkonwayvs. Glad to know that your problem has been fixed.

In this week, we are testing out an experiment for XMR users staking XMR on pDEX: Earn ~35% APR on XMR by adding liquidity . Bascially, the interest rate for adding XMR liquidity is changed up to 10% and you can really earn ~35% APR on your XMR by participating in the pDEX mining program.

Just want to make sure that you are updated about the newest!

[Jerry_Watson]

On the homepage, it’ll say “stake PRV” that is strictly PRV.
Under the “trade” tab, you’ll see “invest“ in the top right, that adds to liquidity where you have to have equal amounts of PRV/XMR.
Hope that helps!

[Jerry_Watson]

If I was you, I would swap all XMR to PRV, stake it at 57% APY, until you get paid again or however you go about gaining XMR.
Then when you have enough, divide your PRV by 2 basically with XMR and provide liquidity for it!
That way you can earn a few pennies in the meantime and your XMR isn’t just chillin there doing nothing

[walkonwayvs]

Fantastic everyone! I really appreciate the help. For now I will take your advice @Jerry_Watson. Thank you all!