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How to join a Polkadot nomination pool

This article describes how to join a Polkadot nomination pool with your Ledger to receive DOT staking rewards.*
 You can learn more about nomination pools here. Check the Polkadot wallet page to learn more. 

Before you start

  • Make sure to update Ledger Live to the latest version via this link.
  • Open Ledger Live and connect your Ledger device to My Ledger to ensure that your Ledger device is running the latest firmware version.
  • Ensure that the latest version of the Polkadot (DOT) app is installed on your Ledger device.

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Join a nomination pool

 Before you go further

  • Pooling your DOTs will require bonding them.
  • This means that once pooled, it will take 28 days to withdraw your DOTs back to your available balance. 
  • Learn more here.
  1. Connect your Ledger Polkadot account to the Polkadot Staking Dashboard as explained here.
  2. On the dashboard, select Pools > Join.

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  3. Select a pool then click Join.

     Need help choosing a pool? This video can help.


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  4. Choose the amount of DOT to bond then click Submit.

     Minimum bond

    • While the minimum bond amount to join a pool is 1 DOT, you technically need at least 2.25 DOTs in your available balance to be able to join a pool.
    • This is because 1 DOT needs to stay in your available balance to satisfy the existential deposit requirement imposed by the network. More on this here.
    • You also need ~0.25 DOT to pay for the transaction fee to bond your DOT and join the pool.

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  5. Click Sign on Ledger
    Your Ledger device displays: Please review.
  6. On your Ledger device, review the transaction type and DOT amount. If all looks good, navigate to APPROVE and press both buttons simultaneously to sign the transaction.

    You're done!
    Once the transaction is confirmed on the Polkadot network, your pooled stake will appear on the dashboard.

     Pooling transactions not displayed in Ledger Live

    • Ledger Live is not able to detect pooling transactions yet. 
    • This means your Ledger balance will be deducted from the amount of DOT pooled but the pooled balance will not show in Ledger Live, only in the Staking Dashboard.
    • Ledger Live will, however, detect the fee you paid to pool your fund and list that transaction in the Latest operations section.
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Leave a nomination pool

  1. From the Pools section, navigate to the pool you wish to leave and select Leave.

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  2. Review the amount to unbond then click Submit.
  3. Click Sign on Ledger
    Your Ledger device displays: Please review.
  4. On your Ledger device, review the transaction type and DOT amount. If all looks good, navigate to APPROVE and press both buttons simultaneously to sign the transaction.

    You're done!
    Once the transaction is confirmed on the Polkadot network, your pooled stake will disappear from the dashboard.

 

*Rewards are not guaranteed. Ledger does not provide any financial advice or recommendation. 

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