Keep Network —KEEP Staking using Gnosis Safe - WalletConnect Guide
Intro about Gnosis-Safe’s:
Gnosis Safe is a smart contract wallet that requires a minimum number of people to approve a transaction before it can occur (m-of-n). If for example you have 3 main stakeholders, you are able to set up the wallet to require approval from all 3 people before the transaction is sent. This assures that no single person could compromise the funds.
Gnosis Safe gives you complete self custody over your funds. There is no risk of a bank giving you a hassle for running a crypto business. The smart contract that is deployed is completely trustless, and in your control.
You can read more about it here: https://help.gnosis-safe.io/en/
Staking in Keep Dashboard:
In this guide, I will show how to interact with Keep Dashboard using Gnosis Safe’s WalletConnect App. This guide will show the steps required to stake in the Keep-Only staking pool. The steps would be same for other pools.
Note: For this guide purposes, I will be using Testnet, but the steps would be same on Mainnet.
Prerequisites:
- An installed and unlocked browser MetaMask Extension to interact with Gnosis-Safe and KEEP dashboard.
- KEEP to deposit into Keep Dashboard.
- Some ETH for transaction gas costs.
There are 5 main steps:
1. Setup Gnosis Safe.
2. Deposit KEEP into Gnosis Safe.
3. Connect WalletConnect dapp from Gnosis Safe to Keep Dashboard.
4. Deposit Keep on Keep Dashboard.
5. Approve transactions from Gnosis Safe.
Step 1: Setup Gnosis Safe —
If you already have Gnosis Safe setup, you can skip this step and directly go to step 2. If you want to setup a new Gnosis Safe, follow the below steps.
1.1 Go to — https://gnosis-safe.io/app/ (Mainnet) and click ‘Connect wallet’. Select ‘MetaMask’ from popup.
1.2 Make sure your wallet is now connected to Gnosis Safe and click ‘Create Safe’.
1.3 Enter the name of the Safe and click ‘Start’.
1.4 Enter the wallets that are going to control the Safe and the approvals needed. In my example below, I’m using test wallet 1, 2, 3 and setting it as 2 of 3 approval threshold for the transaction to go through. Click ‘Review’.
Note: For testing purposes, I’m controlling all 3 wallets but in reality it might not be the case. You can read more about that it here — https://help.gnosis-safe.io/en/.
1.5 Double check everything and click ‘Submit’.
1.6 Confirm the MetaMask popup and wait for it to be confirmed.
1.7 You will now see that the Safe is created successfully and click ‘Get Started’.
1.8 You are done with Step 1, creating Safe.
Note: Make a note of Safe Name and Safe contract address as this will be required to restore your safe.
Step 2: Deposit KEEP into Gnosis Safe —
Send Keep Tokens to Safe contract like any other send transaction you normally would. Once transaction is confirmed, you can check in Safe Assets-Coin section.
Step 3. Connect WalletConnect dapp from Gnosis Safe to Keep Dashboard —
3.1 Go to Keep Dashboard at https://dashboard.keep.network/overview
3.2 Click ‘Connect Wallet’ and click ‘WalletConnect’.
3.3 You will be prompted with WalletConnect QR Code as below. Copy the QR code by clicking ‘Copy to Clipboard’.
3.4 Go to APPS section in Safe and click ‘WalletConnect’.
3.5 Paste the QR code copied in step 3.3.
3.6 Confirm that Keep Dashboard is connected to Gnosis Safe as below. You can also confirm the connection on Keep Dashboard to Safe Contract.
Done with Step 3 and you are now ready to make transactions.
Step 4: Deposit Keep on Keep Dashboard —
4.1 Go to ‘Liquidity’ Section on Keep Dashboard and click ‘DEPOSIT KEEP’.
4.2 You will now get a pop-up asking you to enter the amount to KEEP you want to deposit. In my case I’m depositing 1000 KEEP tokens. Then click ‘DEPOSIT KEEP’.
4.3 Go to Gnosis-Safe and you will see prompt as below. Make sure everything looks as expected and click ‘Submit’. This will be counted as first approval because it is initiated from main wallet.
Note: you have to be in the APPS — WalletConnect section to see the prompt.
4.4 You will now see a MetaMask signature request. Sign the transaction.
You are now done with Step 4.
Step 5: Approve transactions from Gnosis Safe —
5.1 Go to Gnosis Safe — Transactions section and you will see a pending transaction shown as below.
5.2 As I’m controlling all 3 wallets (for testing purposes), I switch to Wallet2 and ‘Confirm’ the transaction. In reality it can be different individual(s).
5.3 There will be a pop-up requesting to approve the transaction, click ‘Submit’. You will now get a MetaMask confirmation popup, confirm the transaction.
5.4 Once the above transactions are confirmed, you can see your deposited KEEP tokens in dashboard.
Note: APY shown above is high because its on Testnet.
Congratulations ! You have now staked your KEEP tokens and are now earning more KEEP rewards using Gnosis Safe — WalletConnet. Monitor your KEEP rewards using the Keep Dashboard.
Withdrawing KEEP Rewards:
When you want to withdraw your staked KEEP tokens and KEEP rewards — Simply click ‘WITHDRAW ALL’ button. This will unstake your KEEP and also withdraw all your KEEP rewards.
If you have any further questions — please feel free to join the Keep Discord Server and ask !
Additional Resources :
- Keep’s Discord: https://discord.com/invite/wYezN7v
- Keep’s website: https://keep.network/
- Keep’s GitHub: https://github.com/keep-network
- Keep’s Twitter: https://twitter.com/keep_project
