What is NavPool?
What is NavPool
Navpool.org is a non-custodial staking pool run by @prodpeak. The pool utilizes cold-staking feature to stake your coins. This means that your coins stay in your offline wallet and the pool will stake your coins online and send you your rewards. The pool is currently operating with a 10% reward fee, meaning with the current block reward being 2 NAV per block, you will only get 1.8 NAV and the 0.2 will go to the pool for maintenance and server costs.
How do I use NavPool
You can register for accounts on the website. After you log in, you will need to give the pool the power to stake your coins. To do that, go to the address tab and click “ADD ADDRESS”.
The “Spending Address” is referring to the address where you keep your coins.
The verification signature verifies that you are indeed the owner of the spending address. To create the signature, follow the steps listed out in the “WHAT IS A VERIFICATION SIGNATURE”. Please follow the steps carefully. Note that your need to type in “REGISTER FOR NAVPOOL” in upper case and with no typo or else it will not work.
To generate the signatures, open your core wallet which owns that spending address. Open the File tab and then click “Sign message”
After entering your spending address and “REGISTER FOR NAVPOOL”, you signature will be generated as shown in the red box. Copy and paste it into the “Verification signature” field and click “ADD ADDRESS”.
Go back to the “Addresses” tab on NavPool.org. You should now see your address listed there. To delegate the staking power, you will need to transfer the coins to a cold-staking address. Expanding your address and you will see a long address under the “Deposit Nav” section. That is your cold-staking address.
You can now send your coins to the cold-staking address to let NavPool stake for you. Remember to refresh the page after you send your coins, the balance will not update automatically.
There, you have done it! You are staking. Remember to vote for the community proposals and payment requests to take part in the decision making of the community!
