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Earn rewards with Celo (CELO) in Ledger Live

This article describes how to earn rewards by staking Celo (CELO) in Ledger Live

 This feature is provided in partnership with Figment. Click here to learn more.

Before you start

Staking CELO in Ledger Live

Celo staking consists of several steps such as:

  1. Registering your Celo account on-chain.
  2. Locking your assets.
  3. Voting for validator groups.
  4. Activating vote for the chosen validator group.

Registering your Celo account on-chain

  1. Connect your Ledger device to your computer and open the Celo app on your device.
    Your device displays: Application is ready.
  2. Open Ledger Live, navigate to the Accounts tab, and select your Celo account.
  3. In your account, navigate to the Delegations section and click Earn Rewards at the top of your screen.

    CELO_EARN_REWARDS.png

Before locking your Celo to earn rewards, you need to first register your account on-chain.

  1. After clicking the Earn rewards button and getting familiar with the details, click Continue.
  2. In the Register account window, click Continue.
  3. Connect your Ledger device, unlock it with a PIN code, and open CELO app.
  4. Confirm the transaction details on your Ledger device.

    CELO_REGISTER_ACCOUNT.png

  5. Once the transaction is broadcasted, you should see the message "Account registered successfully".

Locking assets

Once the account is registered on-chain, you can proceed with locking your assets. Locked assets can be unlocked at any time, but unlocking takes 3 days.

  1. Click Earn rewards on the account page.
  2. On the Lock assets window, select the amount you want to lock and click Continue.

    You will need Celo in your available balance to pay for the transaction fees. As such, it's a good idea to avoid delegating your entire balance and to leave at least 0.01 Celo in your available balance.

    CELO_LOCKING_1.png

  3. Confirm the operation on your Ledger device.
  4. Once the transaction is broadcasted, you should see "Assets successfully locked".

Now, your Locked balance should be visible on Locked balance. You should vote for the validator in order to start earning rewards.

CELO_LOCKED.png

Voting for validator groups

  1. Click on Manage assets on your Celo account page and select Vote.

    CELO_VOTE_1.png

  2. On Vote window select the Ledger by Figment validator then click Continue.
      If you do not wish to vote for Ledger, click Show all and select a different validator.

    Screenshot_2022-08-10_at_12.05.40.png

  3. Select the amount of CELO you want to use for voting and click Continue.

    CELO_VOTE_2.png

  4. Confirm the operation on your Ledger device.
  5. Once the transaction is broadcasted, you should see "You have successfully voted".

It can take time before your delegation changes the status from Pending to Active.

Important note

Pending vote does not generate rewards and needs to be activated after 24h.

Activate your vote for validator group

After 24h, on your Celo page, you will see a message saying "You have votes that can now be activated".

CELO_ACTIVATE.png

  1. Click on Manage on your Celo account page and select Activate.
  2. On Activate votes window select votes that need to be activated.
  3. Click Continue.
  4. Confirm the operation on your Ledger device.
  5. Once the transaction is broadcasted, you should see "Your vote was successfully activated".

Once your vote is activated, you should start earning Celo rewards.

Learn more about Celo Staking here.

Unstaking Celo

Celo unstaking consists the following steps:

  1. Revoke your vote from the validator group.
  2. Unlock the locked amount.
  3. Withdraw the unlocked amount to your available balance.

Revoke your vote

  1. Click on Manage assets on your Celo account page and select Revoke vote.

    CELO_REVOKE.png

  2. On Revoke vote window select the validator you want to revoke the vote from and click Continue.

    CELO_REVOKE_1.png

  3. Select the amount to revoke.
  4. Click Continue.
  5. Confirm the operation on your Ledger device.
  6. Once the transaction is broadcasted, your vote should be revoked.

Now, your revoked votes should be visible on Non-voting locked balance. You can vote for another validator or unlock your CELO in order to withdraw them to your available balance.

CELO_NON.png

Unlock your Celo

Important note for unlocking

Make sure your revoked your votes before unlocking CELO. Only revoked Celo votes are available for unlocking and further withdrawal.

  1. Click on Manage assets on your Celo account page and select Unlock.

    CELO_UNLOCK.png

  2. On Activate vote window select the amount to unlock and click Continue.
  3. Confirm the operation on your Ledger device.
  4. Once the transaction is broadcasted, you should see "Unlock transaction sent successfully ".

Now, your unlocked CELO should be visible on Withdrawable balance in 3 days. 

Withdraw your Celo

To retrieve an unlocked amount back to available balance, you need to withdraw it manually. Unlocked assets can be withdrawn in 3 days.

  1. Click on Manage assets on your Celo account page and select Withdraw
    IMAGE
  2. On Withdraw window select amount to withdraw and click Continue.
  3. Confirm the operation on your Ledger device.
  4. Once the transaction is broadcasted, you should see "....".

Now, your withdrawn CELO should be visible on Available balance. You can lock this balance again if you need and you can send the assets from your address.

CELO_WITHDAWABLE.png

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