How to Stake CLO

Cold staking is a protocol that rewards long-term coin holders for staking their Callisto coins.
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How to manage Callisto on Trezor using Magnum Wallet

How to manage Callisto on Trezor using Magnum Wallet

What is Magnum Wallet?

Magnum Wallet is a non-custodial multicurrency wallet service that lets users safely manage their crypto assets, as well as earn extra coins in a variety of ways. As the all-in-one crypto wallet, Magnum boasts many useful features, including the support of hardware devices such as Trezor that store the user’s private keys in a secure physical chip.

Managing CLO in Magnum

Importing or creating a wallet in Magnum can be done directly on the main page, where you will also be asked to set a password and choose the appropriate cryptocurrency (such as Callisto). If necessary, you can provide your own derivation path. 

Using the Magnum Dashboard, Trezor hardware wallet users can effortlessly monitor, send and exchange their funds in just a few clicks. Once inside, you can locate your Trezor wallet on the left side panel and in the Wallets tab. 

Each wallet’s page has a few tabs dedicated to the capabilities available for the coin or token in use. In your Callisto wallet, you will be presented with the following choice:

  • In the “Send” tab, either input the receiving address or pick one from your imported wallets (hint: import addresses in the watch-only mode to create a “contact list”).
  • In the “Receive” tab, you can click on your address to copy to clipboard, as well as save the QR code image created using your wallet’s address.

Staking CLO using Magnum

In the “Staking” tab of your Callisto Magnum wallet, you can set the sum you wish to freeze, pick your gas limit & price and set a nonce, if necessary. Keep in mind that your funds will be locked for 27 days and you will be unable to withdraw within the locking period. 

Also, note the transaction fees estimated for the operation. Make sure that you have enough funds left on your balance to withdraw your stake and claim the rewards later. The amount of your future reward depends on the time when you are claiming it.

To “Exchange” your funds (once the feature is available), you will have to choose one of the supported exchange services and your receiving wallet.