How To Stake Your UMB Tokens on The Umbrella Network: A Step-by-Step Guide
By: Umbrella Network Team
Tags: Staking, Umbrella Network Token, Oracle, Technology, Defi

Your UMB tokens can be staked in the Umbrella Network’s staking portal to earn you rUMB rewards. The rUMB rewards can be redeemed 1:1 to UMB tokens on the achievement of distinct business goals or the passage of a fixed duration of time.

Uniswap Contract Address: 0x7a250d5630B4cF539739dF2C5dAcb4c659F2488D

rUMB1 Contract Address: 0x1b17dbb40fbed8735e7fe8c9eb02c20984fadfd6

Minted 3,402,778 rUMB1 tokens

Sent to contract: 3,244,292 tokens

Uniswap AMM Pool: 158,486 tokens

ETH: 17.777

Approximately $0.20 per rUMB

rUMB1 sent to contract is for 29 days. The shortened month only applies in month 1, after which will be normal months. You won’t have to renew every month.

This example uses Metamask as the wallet, but you can use any other web3 wallet as well.

To stake your tokens, you need to first connect your Metamask wallet to the Umbrella Network’s web3 staking platform. Get the Metamask Chrome extension here. Get the iOS app here and the Android app here.

Once done, head over to https://staking.umb.network (verify that you’re on the secure site)

(The presence of the lock icon on the address bar means that you are on the secure site)

Then, click on the ‘Connect Wallet’ button.

On a successful connection, your Metamask status shall change from ‘Not Connected’ to ‘Connected’ as shown in the image below.

Additionally, on the staking portal secure site, you’ll see a green dot on the top right with the word ‘Connected’ right next to it and your wallet address to its right within square brackets to its right.

Ensure that the wallet address shown in your Metamask wallet and on the staking portal is the same.

Now, you’ve successfully connected your Metamask wallet to the Umbrella Network’s staking platform and are ready to stake your UMB tokens and earn rewards.

Staking Your UMB Tokens

On the same page, you’ll see the headings — ‘Stake’, ‘Withdraw’ and ‘Your Wallet’ as bold and clickable buttons.

Click on Stake and it will start to glow Blue as depicted above.

Your UMB Balance shall show up under the ‘Balance’ section, right next to your wallet.

Click on ‘MAX’ to stake all your tokens at once OR enter a number within the limit of your Balance.

Next, you will be asked to provide an ‘Allowance’

This is your UMB token amount that will NOT be staked and stay in your wallet.

Click on the ‘Staking’ radio button and click ‘Okay’ to commence staking (depicted below).

To skip the ‘Allowance’ step, click on the ‘Trust contract forever’ checkbox and click on the ‘Stake’ button to commence staking

Withdrawing Your UMB Tokens

Click on the heading that says ‘Withdraw’ and it shall glow blue

Enter the number of UMB tokens you wish to withdraw

To select all of your staked tokens, click on the ‘MAX’ button

Click on the ‘WITHDRAW’ button to commence the withdrawal of your staked UMB tokens back into your wallet

For 1-click withdrawal of all your staked UMB tokens and your earned rUMB tokens, simply click on the ‘CLAIM REWARDS & WITHDRAW ALL’ button

Claiming Your Rewards

On successful completion of the staking/withdrawal process, your net balance shall display under the heading ‘Your Wallet’.