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How to Swap
Some users have been sending STAKE directly from the xDai chain to Huobi or Gate exchanges. DO NOT DO THIS OR YOU WILL LOSE YOUR TOKENS!
If you want to use other exchanges, you need to Bridge STAKE to Ethereum first. This can be costly (Eth gas fees) so plan accordingly.
Video
The video starts with a POA withdrawal from Binance. If you already have your POA tokens on an address, you can skip to minute 2:45 or so. The instructions use MetaMask, which is the recommended solution. Trust Wallet is not recommended, and we do not provide support for Trust Wallet issues. If needed, send funds from Trust Wallet to MetaMask to get started.
Swap Instructions
Swapping from POA on POA Network to STAKE on xDai is a 2 step process. Steps detailed below.
- 1.Bridge POA from the POA Network to the xDai Network using the OmniBridge. During bridging, POA is converted to WPOA (wrapped POA) on the xDai chain.omni.xdaichain.com/bridge
- 2.WPOA on xDai is swapped for STAKE on xDai using the swap application.https://poa-to-stake.poa.network/
We recommend running through this process the first time using a small amount of POA (like 1-5 POA). Gas prices between POA and xDai are very inexpensive, so it is worth it do a test run first to understand and make sure everything works.
1. Bridge POA to WPOA on xDai
1) Connect and Initiate Bridge Transaction
Best option is to use MetaMask, these instructions do not support TrustWallet. The easiest way to start is to create a MetaMask account and send funds to that account from Trustwallet to complete the swap.
- 1.
- 2.Connect your web3 wallet (in this example we use MetaMask) to the POA Network. If you need to add POA Network to MetaMask custom networks, instructions are here. You can also go to chainlist.org to add the POA network.Select the POA-XDAI Bridge in the bridge selector dropdown.
- 3.Enter the amount of POA you want to bridge to WPOA. Note you need to reserve a very small amount to pay for gas.
- 4.Wrapped POA (WPOA) you will receive on xDai. 3 and 4 should match.
Click Transfer to start. (note: this will transfer to your same wallet address on the xDai chain. If you want to send to a different address on the xDai chain, you can use the Advanced feature. Be sure to triple check if you choose this option, as funds sent to the wrong address may not be recoverable).
2) Continue Transfer
3) Confirm in MetaMask
4) Wait for Confirmation
You can view progress on the ALM monitor. The transfer should only take a few minutes to process between POA Network and the xDai Chain.
5) Add Balance to xDai Wallet (optional)
The following processes detail adding WPOA to your wallet. You can also confirm the transfer in Blockscout by pasting your address in the search bar and checking your tokens balance.If you don't want to add WPOA to view in your wallet, skip to section 2 swap WPOA to STAKE.Here we use Metamask as an example.
- 1.
- 2.Go to Assets
- 3.Press Import Tokens
- 1.Add the WPOA Token Contract Address
0x9fe3864F9Ae7cfb5668Dae90C0e20c4C3D437664The remaining info should autopopulate. - 2.Press Add Custom Token.
You should now see WPOA along with your balance.
- 1.Press Import Tokens to finalize
- 2.You will now see the amount of WPOA in your balance
2. Swap WPOA to STAKE on the xDai Network
Press Connect wallet.
2) Select your wallet application of choice.
In this example we use MetaMask connected to the xDai Chain. Note you must have MetaMask enabled in your extensions to see this option.
3) Select xDai chain from the dropdown menu.
4) Enter the amount you want to swap, or Convert All to swap all.
You will need a small amount of xDai to process the transaction. You can get some at the community faucet at https://xdai-app.herokuapp.com/faucet
5) Confirm the Transaction in MetaMask
6) Transaction is initiated and should be completed shortly.
From this final screen you can:
- 1.View progress in BlockScout: Click Check the status here to see swap progress.
- 2.Add STAKE to MetaMask: Click to add the STAKE token to your MetaMask wallet.
What can I do with my STAKE once I swap?
Once you receive STAKE on xDai from the swap, there are many options. Checkout the stake token website for details at https://www.staketoken.net/
- 1.
- 2.Stake it on POSDAO. If you have more than 200 Stake, you can use the staking application to stake it on POSDAO and earn rewards as a delegator.
- 4.Trade it for other tokens: Use the same DEXs on xDai to trade STAKE.
- 5.Bridge to Ethereum: You can bridge STAKE to Ethereum using the Omnibridge. Once on Ethereum, you can trade, send to supported CEXs, or stake on Easystaking.
If you trade STAKE for other tokens on xDai, DO NOT send them directly to your CEX wallet or you can lose access. You will still need to bridge them to Ethereum before sending to an Ethereum-supported CEX.
Additional Details from BlockScout
WPOA to STAKE Swap Contract on xDai: https://blockscout.com/xdai/mainnet/address/0x2A8475c74b7A9E08DB6dfdcb5f58AC53B598B319/transactions
BlockScout Tx of example WPOA to STAKE swap: https://blockscout.com/xdai/mainnet/tx/0x36c282174dc10c002c3d38f657c5d951279ce3fd6b905e95402485649f7656f3
Last modified 9d ago
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Contents
Video
Swap Instructions
1. Bridge POA to WPOA on xDai
1) Connect and Initiate Bridge Transaction
2) Continue Transfer
3) Confirm in MetaMask
4) Wait for Confirmation
5) Add Balance to xDai Wallet (optional)
2. Swap WPOA to STAKE on the xDai Network
1) Go to swap application at https://poa-to-stake.poa.network/.
2) Select your wallet application of choice.
3) Select xDai chain from the dropdown menu.
4) Enter the amount you want to swap, or Convert All to swap all.
5) Confirm the Transaction in MetaMask
6) Transaction is initiated and should be completed shortly.
What can I do with my STAKE once I swap?
Additional Details from BlockScout