How to swap DASH for stDASH

Note: This is different from the testnet guide. This is a step-by-step guide to swapping for stDASH on the mainnet with DASH.

In this guide, you will see how you can swap your DASH for stDASH. It is recommended to go through the KYC process 3-5 days before the actual transaction as it takes time for approval. If you would like to swap ETH for stDASH, read this other guide.

At this point of writing, the only way to get stDASH is through StakeHound with Altcoinomy. If you’re not a fan of waiting, you can still acquire stDASH through SushiSwap with ETH. We are constantly working on building more bridges so if you would like to be updated with the project developments, join the Discord community.

 

Before you begin, please prepare:
1. Identity document (Identity card or Passport)

2. Proof of Residence (Only required

At this point of writing, unfortunately, this method will not be applicable to US non-accredited investors.

Afterwards, you may proceed:

1. Head to our website (StakeHound.com), scroll down and you will see a row with DASH’s logo. To the right, click on ‘Exchange at 1:1 ratio’ just below the ‘Buy on SushiSwap’ button.

2. Begin the KYC Process.

4. Check your email for the validation code. Key in your validation code and proceed. You will now see a list of stakedTokens. Choose stDASH as an individual/company. Hit ‘Participate’.

5. You will need to spend roughly 5-10 minutes on this page to fill in your details. It is a chronological process – you won’t be able to skip to the next step until the prior section is filled up. Once you reach the end of it, be sure to download the generated document and read it.

You will then be asked to fill in the ‘Token Delivery Address’. This is the address to which you will receive your stDASH after the KYC has been approved and DASH has been received. Afterwards, you may check the T&C box, and hit ‘Finalise My KYC’.

After finalizing your KYC, the Altcoinomy team will schedule a video call for KYC/AML processes to verify your identity. Once this process has been completed, you will be updated on your KYC status, and requested to send DASH. Once your DASH transaction has been verified on their end, the stDASH will then be released to your Token Delivery Address.

Have Questions on Support? Join the StakeHound x Altcoinomy Telegram group.

Have Questions on stDASH? Join the stDASH Discord Community.

How to swap ETH for stDASH on SushiSwap with MetaMask wallet

Note: This is different from the testnet guide. This is a step-by-step guide to swapping for stDASH on the mainnet.

In this guide, you will see how you can connect your MetaMask wallet, which you have created, to swap for stDASH on SushiSwap.

1. Go to SushiSwap (https://exchange.sushi.com/#/swap?outputCurrency=0x78474f29af6d4eb0cfb3168eff1c117cf13569e8) and click ‘Connect to a Wallet’.

2. Select MetaMask from the list of wallets available.

 

3. The MetaMask extension will pop-up, requesting for you to select the account you would like to connect to. After ‘Next’, hit ‘Connect’.

4. You are now able to swap ETH for stDASH.

5. You will recieve a pop-up once again on MetaMask extension to request for you to confirm the transaction with details on the gas fees. Hit ‘Confirm’. (Note: Image attached is for illustration purposes and not reflective of actual transaction.)

6. If the stDASH balance is not reflecting, follow the bottom half of this guide to learn how to add and view stDASH in your MetaMask wallet.

Have questions? Join the stDASH Discord community and let us assist.

Enjoy DASH Staking Rewards and DeFi Access With stDASH by StakeHound

DASH holders can soon expect to receive staking rewards without even having to stake it. Last October, we announced the partnership between StakeHound,DASH NEXT and Dash Core Group to launch the ERC-20 wrapped token stDASH.

StakeHound brings liquidity to Proof-of-Stake protocols by bridging the gap between them and Ethereum’s DeFi ecosystem. Wrapping DASH into an ERC-20 version of it, stDASH, means that DASH holders can generate additional yield through major DeFi applications while receiving stable staking rewards.

A quick recap on the benefits and usage of stDASH:

  1. Earn staking rewards: Holders of stakedDASH (stDASH) will receive a proportional part of DASH staking rewards, depending on the size of their stDASH holdings.
  2. Arbitrage opportunities: StakedDASH can be freely traded on the open market thus creating opportunities for arbitrage.
  3. Provide liquidity through DeFi: Holders can make additional income by providing liquidity on decentralized exchanges, also known as yield farming.
  4. Lending and borrowing: stDASH can be used in multiple DeFi applications for lending and borrowing; creating various opportunities for stDASH holders who can now also borrow against their staked tokens.

This is Dash’s first move into Ethereum’s world of DeFi. The testnet has already been launched and open for anyone to participate and test without risking any cryptocurrencies. If you are ready for the real deal, it is now live on the mainnet through Uniswap.

About StakeHound

A liquid staking enabler – StakeHound brings the benefits of both DeFi and Staking together. With three major protocols already live: stETH, stXEM and stFIRO, StakeHound is focused on building bridges between staking protocols and Ethereum’s DeFi. 

StakeHound is a swiss company that follows strict compliance procedures and has partnered with military grade security custody solutions such as Fireblocks and Copper to secure the assets. 

In the upcoming months, StakeHound will be issuing other staked tokens such as stZEN, stXRD and stDOT among others.

About Dash

Dash is digital cash designed to offer financial freedom to everyone. Dash allows millions of individuals across the globe to carry out instantly re-spendable and secure transactions, with near-zero fees. Built to support real-life use cases, Dash is the leading decentralized payment solution: it is accepted at merchants globally, accessible via 1,600+ ATMs and 100+ exchanges worldwide. Dash has pioneered groundbreaking features including a two-tier network with incentivized nodes and decentralized project governance (Masternodes), instantly settled payments (InstantSend), instantly immutable blockchain (ChainLocks) and more. The Dash Network’s development is supported by Dash Core Group, the largest organization funded by the Dash Treasury, which supports and nurtures the continued worldwide development and integration of Dash. For more information, visit https://www.dash.org/ or follow the organization on Twitter @DashPay.

How to try stDASH on Uniswap [testnet]

The stDASH testnet is an emulation for users to familiarise with the process of acquiring stDASH and providing liquidity to the pool without using real cryptocurrencies. Please note that while the steps will be the same when stDASH is live on the mainnet, the Contract Address and Link to Uniswap Pair will be different from this guide. 

 

For this guide, you would have already created a Metamask wallet and added that in the browser. You do not need to store any ETH for the testnet to work. You may follow the steps below for clarity.

 

  1. Head to StakeHound.com and click on ‘Try stDASH™ Today’.

2. Switch your Metamask network from ‘Ethereum Mainnet’ to ‘Ropsten Test Network’ through the browser extension.

 

3. Request for 1 ETH from faucets [https://faucet.dimensions.network/ or https://faucet.metamask.io/]. Input your wallet address. You can find your wallet address in the Metamask extension. Click on it and click on the Account name to copy your wallet address to clipboard. Paste it in the field and click on ‘Send Ropsten ETH’.

 

4. Once you are done, it will reflect a transaction hash. Click on it to be taken to Etherscan which will reflect the status of the rETH transaction. Please note that you might have to wait up to 2 minutes for the transaction to be successful. Check your wallet in the Metamask extension. You should see the number of ETH now available in your wallet.

5. Head to Uniswap for the stDASH testnet again: https://app.uniswap.org/#/swap?inputCurrency=ETH&outputCurrency=0x7E7A46FECeDAC72Eca55f762eD557c3756432489. Check ‘I understand’ in the warning message and click ‘Import’.

 

6. Now, you can use the ETH you have received from the faucet to swap for stDASH. The minimum sTDASH to hold to earn staking rewards is 1 stDASH. 

 

7. Once you have keyed in the ETH you would like to swap the stDASH with, hit ‘Confirm Swap’ on the Uniswap interface. You will now see a popup from the Metamask extension, requesting you to confirm the transaction before proceeding. Click ‘confirm’.

 

8. Transaction is pending. You should now add stDASH (testnet) to your Metamask wallet. You may click on ‘Add stakedDASH to Metamask’ or you can select ‘Add Token’ directly from the Metamask extension.

 

9. If you have selected on ‘Add Token’, you will now input the token contract address [0x7E7A46FECeDAC72Eca55f762eD557c3756432489] in the first field. The next two fields will populate automatically. Hit ‘Next’.

 

10. You will now see that the Metamask wallet holds the number of stDASH you have swapped for. 

 

With the stakedDASH in your Metamask wallet, you may proceed to request for more ETH from the faucet and swap for more stakedDASH just to familiarise yourself with the process. Once stDASH is listed on Uniswap (on the mainnet), the steps will be similar. 

Please note that the 1. Contract address and 2. Link to Uniswap pair will be different from the one in Testnet.

Have questions? Join the stDASH Discord community and let us assist.