HYDRA Documentation
  • Introduction to Hydra Chain
  • HydraGon
    • Migrate to HydraGon
    • Staking Calculator
  • Legacy Hydra
  • FAQ
  • Hydra web wallet
    • Create New Wallet
      • Key File Option
      • Mnemonic Words Option
    • Access Your Wallet
      • From Mnemonic Words
      • From Private Key
      • From Key File
    • Send and Receive Assets
      • Receive Assets
      • Send Assets
    • Add HRC20 Token
    • Setup Offline Wallet
  • Hydra web browser extension
    • How to integrate with dApps
  • Hydra for Beginners
  • Ledger Nano Guide
  • Hydra Bridge
  • HydraDEX
    • Adding and Removing Liquidity
    • Liquidity Mining on HydraDEX
  • Useful Links (Legacy)
  • Essentials
    • UTXOs Accounting
    • Test & Main Networks
    • Desktop wallet basic usage
    • Wallet Encrypt, Backup and Restore
    • Hydra Core Wallet Commands
    • Adding Nodes
    • Encrypt and Unlock Hydra Wallet
    • Wallet Recovery With Salvagewallet
    • bech32 support
    • Repositories
    • Hydra Exchange Usage Guide
    • How to Add Options
    • How to Use bootstrap.dat
    • Command Lines (RPC API)
    • Guidance of Hydra Deployment and RPC Settings
    • How to Build Hydra on Raspbian
  • HRC20 Tokens
    • HRC20 Token
    • HRC20 Raw Transactions
    • HRC20 With Hydrachainjs
    • HRC20 DApp
  • HRC721 Tokens
    • HRC721 Token - How to deploy
  • How Transactions Work
  • Hydra Economy (Legacy)
    • The Flexible Supply Mechanism
    • Legacy Staking Calculator
  • Installation Guides
  • Guide for Linux
  • Guide for Raspberry Pi
  • Guide for MacOS
  • Staking HYDRA Coins
    • Setting up Staking
    • Staking with Windows VPS on AWS
    • Staking with Linux on DigitalOcean VPS
    • How to Stake Hydra on Linux
    • Stake With Linux VPS
    • How to Stake on FreeBSD
    • Hydra node health check
    • Superstaking
    • Delegating to Superstaker
    • Delegating via Mobile App or Web Browser
    • Lydra Basics
    • Understanding LYDRA — Key Concepts and Dynamics
  • Hydra Chain Core Team
  • KYC/AML Policy
  • Privacy Policy
  • API Documentation
    • Explorer API (in work)
      • General Blockchain Info
      • Fetching Transaction History for HYDRA and HRC20 tokens
      • Block Info
      • Transaction Info
    • Hydra DEX API
  • Community Tools
    • Github repository
    • Docker image for Hydra Node
    • Hydradex.org Custom Lists
  • Security Audits Hydra Bridge
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On this page
  • Step 1. Encrypting the wallet
  • Step 2. Importing the private key
  • Step 3. Check your address
  • Step 4. Exporting your private key
  • Step 5. Backing up our wallet
  • Step 6. Adding funds
  • Step 7. Enable Staking!

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  1. Staking HYDRA Coins

Setting up Staking

Quick guide to getting up and running and collecting rewards

PreviousGuide for MacOSNextStaking with Windows VPS on AWS

Last updated 1 year ago

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After successful installation of the HYDRA and starting it up, we'll import our private key generated from the - or if we are starting fresh we can simply use one of the default addresses created by the and use this address to send our LOC and HYDRA to.

Step 1. Encrypting the wallet

Lets encrypt our wallet and set a password for it. It is important to set a very secure password and store it somewhere extremely safe such as writing it down on a piece of paper and placed in a secure location.

Begin by starting up the HYDRA wallet from the start menu shortcut. Click on 'Settings' at the top, and then select 'Encrypt wallet'.

Enter your password twice to confirm it, making sure it is difficult password to guess and you have a way to remember it, then click 'OK'.

You will be prompted to make sure you have noted your passphrase and to verify that you wish to encrypt. Click yes when you are ready to proceed.

The software will take a few moments to encrypt the wallet and it will then alert you that in order to complete the process it must close the application. Click 'OK' to close and complete the process.

We will now reopen the HYDRA wallet software to start up the wallet in encrypted mode. From now on your password will be required for performing wallet functions such as enabling staking, sending out funds, or importing/exporting private keys.

Step 2. Importing the private key

Navigate to 'Help' above and click 'Information window' .Ensure in the new window that opens that 'Console' above is selected.

From here we will be importing our private key. Firstly we'll need to unlock the wallet by entering our passphrase. The command to unlock the wallet from the console for a duration of three minutes is:walletpassphrase "yourpassphrase" 180

You should see a response that displays 'null' which indicates that your password has been accepted. You now have three minutes to import your private key before it locks again. If you wish to extend the time that the wallet is unlocked you can increment the time in seconds by setting 180 to a higher number.

The command to import your private key is: importprivkey "yourprivatekey"

After entering your key and pressing enter, The wallet will rescan. You can confirm that your key has been successfully imported with another 'null' message. You may now close this console window.

Step 3. Check your address

Step 4. Exporting your private key

Step 5. Backing up our wallet

Every time you create or import a new address into the staking client, you should make a new backup since they may not be included in the previously backed up wallet.dat file. It is recommended to frequently backup your wallet and to do so prior to client updates.

We will now backup our encrypted wallet. Click 'File' above and then 'Backup wallet':

You can now save the wallet.dat

Be sure to store your wallet in a secure location such as an encrypted usb flash drive.

Step 6. Adding funds

If you have not added funds to your wallet you can now add them safely by sending HYDRA coins and LOC tokens to the address belonging to the private key. This will be the address that you will use when withdrawing funds from the exchange, when recieving funds from anywhere else. This can also be the address that you can use to register for airdrops.

Step 7. Enable Staking!

The final step after adding HYDRA to our wallet is to navigate to the 'Stake' tab and ensure the switch is to the right side to enable staking.

We will need to activate staking and enter our password each time we start the software. To ensure full staking rewards please make sure that the wallet is online and running - otherwise you could miss out on staking rewards. Once staking is working and you have mature coins, the lightening in the 'shield' icon will turn white. You can hover your mouse over the 'shield' to see your Network weight and time expected to earn rewards.

Once we have re-initialized the HYDRA wallet we can import our private key(s) - This is the key that you may have created previously using the method, If you wish to start fresh instead and use one of the addresses automatically generated by default in the HYDRA wallet then you can skip to .

Navigate to the 'Recieve' tab above and click 'CHANGE DEFAULT ADDRESS' to confirm that your new imported address is displayed. It should match the address that you have created if you imported it from the . To use the address select your address (If you have not imported an address you can select the default one that has been generated) and then click the button that says 'Choose'.

If you have opted to use an address created by the wallet or wish to create another address through the Hydra wallet you can enter the command getnewaddress within the console to generate one for usage. The address will also now be included in the wallet.dat. You may want to create a backup of the private key for the address and can do so with the command dumpprivkey <address> - Please ensure that private keys are stored safely as they are essentially the key to your funds within this address. You can also use this private key to send/receive funds within the .

Good luck! If you wish you can view instructions for adding the LOC Token contract address in order to see your Token balances. Remember to create a backup after importing Token contracts in order to see them after a restore.

Webwallet
webwallet
Webwallet
Step 3
Wallet
Webwallet
Wallet
HERE
Select Encrypt wallet
Verify password
Confirm Encryption
Complete Encryption
Select Information window
Console
Null result shows password has been accepted
Wallet rescan
Wallet backup
Save wallet in secure location
Slide the switch to the right and enter your password