Beginner's Guide for EWX Solution Staking

How to Participate in the EWX Network as a Staker and Support Network Security and Solution Accountability.

This step-by-step guide explains how EWT holders can participate in securing the Energy Web X (EWX) network and support Verified Compute Cloud (VCC) solution accountability through liquid staking and solution group participation.

Step 1: Acquire Energy Web Tokens (EWT)

EWT can be acquired via decentralised and centralised exchanges. A list of supported exchanges is available here. If you currently hold EWT on Ethereum or EWC, before you can stake, you must first bridge your tokens to Energy Web X (EWX) using the official Energy Web Bridge.

Note: Bridging tokens from EWC to EWX is a one-way function i.e., once tokens are bridged to EWX, they cannot be bridged back to EWC. Bridging tokens from Ethereum to EWX is a two-way function i.e. tokens can be moved back and forth using lock, mint, and burn unlock mechanics.

Step 2: Set Up a Compatible Wallet

First, install an EWX supported wallet. Once installed, create a new account or import an existing one. Be mindful to securely back up your recovery phrase. Next, enable the Energy Web X network in your wallet settings to view your EWT balance and transact EWT. You can see the steps below to setup your wallet - Download the wallet of your choice either from appstore or playstore - Click the create new account tap, add your password - Write down your seed phrase safely - Verify your seed phrase - Your wallet is ready - Click the drop down button - Click Manage networks - Search Energy Web in the search bar - Toggle on the Energy Web X network - Select Manage tokens, and toggle on the EWX token You can see a visual guide on how to setup your wallet here.

Step 3: Liquid Stake Your EWT (stEWT)

Liquid staking on Energy Web X allows you to stake EWT and receive a liquid token representation called stEWT. stEWT is transferable and can be used across the ecosystem, including for participation in Verified Compute Cloud solutions. Liquid staking does not mint any new EWT; the overall EWT supply cap remains unchanged.

To liquid stake, open the EWX Staking Application and select “Liquid Staking”. Then enter the amount of EWT you wish to stake, confirm and sign the transaction in your wallet. Once completed, your wallet will display a stEWT balance.

Note: The exchange rate between EWT and stEWT may change gradually over time due to auto compounding of staking rewards. Click here for a video tutorial on how to liquid stake or read more here.

Step 4: Complete KYC to Stake on Verified Compute Solutions

Now that you have liquid staked your EWT, you can participate in Verified Compute Cloud solution groups. Some VCC solutions require participants to complete know-your-customer (KYC) identity verification before subscribing. The SAFc Registry is one example of a VCC solution that requires KYC.

To initiate KYC, open or download the Energy Web Marketplace web application. Navigate to “Discover”, and locate the relevant Verified Compute Cloud solution group. Click “Initiate KYC” and sign the transaction in your wallet. A KYC form will open in a new browser tab, which you can follow to complete the KYC. Click here for a tutorial on how to initiate the KYC identity verification.

Then complete the following KYC process, implemented by a third party verification service provider:

1. Enter your email address and submit the form.

2. Check your inbox for the verification email.

3. When you receive the verification email, click Verify My Identity.

4. Complete the identity verification flow.

Once your identity has been verified, you can return to the Energy Web Marketplace. The solution group status will change to Opt In. Click here for a tutorial on how to complete the KYC identity verification.

Step 5: Subscribe to a Verified Compute Cloud Solution Group

To subscribe, click on the “Opt In” button in the Energy Web Marketplace, and then complete the Sign Up as Operator flow. To sign up as an operator you need to follow the steps below: 1. Have your EWX account connected to the marketplace.

2. Have some funds in the account for transaction fee.

3. Select any of the solution group that is available for subscription and click Opt-in

4. Enter the name you desired for your operator account in the text field, select country of residence and then hit "Continue"

5. Confirm the transaction in your wallet

6. Once approved, wait for the transaction to be executed

7. You will see a success message along with the transaction URL to Polkadot explorer. Your operator account is now registered.

For more information and guide you can check here

Choose the amount of stEWT to allocate. Confirm and sign the transaction. Click here for a tutorial on how to subscribe to a solution group.

When you subscribe to a VCC Solution Group, you commit stEWT as slashable collateral to support enforcement of the VCC Protocol. Your participation signals support for solution integrity and accountability. Rewards may accrue over time depending on successful service delivery and the relevant VCC Protocol conditions.

Step 6: Claim Your Rewards

Any applicable rewards for successful service delivery are generated automatically, subject to the VCC Protocol conditions, and are claimable via the Energy Web Marketplace. To claim, please follow these steps:

1. Navigate to your subscribed solution group

2. View “Available Rewards”

3. Click “Claim Rewards”

4. Confirm and sign the transaction in your wallet.

Once this claim process is completed, the generated rewards are credited to your account.

Note that awards paid in USDC may not yet be visible directly in the Energy Web Marketplace. Updates are in progress to enable this feature, and in the meantime USDC balances can be viewed via supported wallets (e.g. Polkadot.js, or Subscan).