How to Stake as a Governance Staker (Simple Staking) Using Orion Pool on Orion Terminal

Preparation:

To begin with, make sure you have some ORN and BNB in your wallet if you're using the BSC route. Keep in mind that ORN on the Binance Smart Chain contract will most likely result in lower signing fees than ORN based on the Ethereum chain.

You can follow the same process whether you prefer to use the Ethereum chain or Binance Smart Chain. If you choose the Ethereum chain you will need ETH for gas. If you choose BSC, like in these examples, you will need BNB in your wallet for gas transactions. Always set your wallet network to match the chain you would like to choose on the Terminal.

Make sure your wallet is set up to read Binance Smart Chain if it isn't already (if that is your preferred chain, but it is good to include anyway). You can do that here.

It is important to also have the BSC ORN contract added to your wallet as a custom token on the Smart Chain. Here is the contract address for it:

BSC ORN contract:     0xe4ca1f75eca6214393fce1c1b316c237664eaa8e

If you haven't yet added the ETH ORN contract as a custom token to your wallet, use this:

ETH ORN contract:       0x0258f474786ddfd37abce6df6bbb1dd5dfc4434a

Ticker: ORN

Decimals: 8

** Please note. Never send your tokens directly to a token contract address or they will be lost forever. The contract address is there to show authenticity of the token contract and to add as a custom token location to your wallet so it can read it.


If you hold ERC-20 ORN tokens and prefer to swap to the BSC version of ORN for cheaper and quicker transactions on the Binance Smart Chain, Binance have their Binance Bridge. This allows you to swap tokens across chains and back easily. You can find that here. You may have to check that it is available in your country for use.

With all that out of the way, let's get started with the Governance staking.

 

Step One: Connect Your wallet

  1. Sign in to your MetaMask wallet and choose the Binance Smart Chain network. If this has not yet been set up in the wallet, see our Learn How to Trade on Orion Terminal guide for instructions. 

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  2. Open the Orion Terminal: trade.orionprotocol.io

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  3. On the left panel, choose “Add Wallet“.

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  4. Select the Binance Smart Chain Network.

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  5. Choose your preferred wallet.

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    Step 2: How to stake: 

    1. On the left panel choose the “Pools” icon.

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    2. Select the Governance tab.

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    3. Click the stake button.

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    4. Enter the desired amount of ORN for staking.

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    5. Click “ Approve”. 

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    6. Confirm the MetaMask notification.

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    7. Click the Stake button.

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    8. “Confirm” the MetaMask prompt.

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    9. Your ORN will appear in the “Available for voting” section.

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    Step 3: How to Vote with Your stake:

    1. Choose one of the pools that you would like to vote and press enter.

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    2. Click vote.

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    3. Enter how much ORN you would like to use.

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    4. Click “Vote”.

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    5. Confirm the transaction in your wallet.

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    6. Wait a short while, then in the Governance menu your ORN will show in the “In voting” section.

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    You are now staking your ORN tokens using the Governance Staking method on Orion Pool.


    Unstaking:

    To unstake, navigate to the Pools section on the left panel and then make sure the Governance tab is selected on the top right.

    You need to first click the pool of your choice then change your vote to "0". This will allow you to progress to the next step which is unstaking. Without changing the vote to zero, it will not let you unstake, so that needs to be completed first.

    Press the "Unstake" button and confirm the wallet notifications. To claim your rewards, simply press the claim button and follow the on-screen confirmations.

    Claimed and unstaked rewards will return back to your connected wallet once completed.

Learn more below.