Cardano (ADA)

From Trezor Wiki
Jump to: navigation, search


Cardano (ADA) is a distributed computing platform that runs the blockchain for the Ada cryptocurrency.

Firmware (device) support Trezor Model T v2.0.8 (Shelley support since v2.3.2)
Available in Trezor Wallet? Yes (redirect to Adalite)
Third-party wallets AdaLite, Yoroi

Accessing the ADA wallet with AdaLite[edit]

AdaLite is an open-source Cardano wallet interface developed and maintained by Vacuumlabs. AdaLite interface is currently compatible with Trezor Model T.

NoteMake sure that your Trezor Model T is running the latest firmware version.

Visit AdaLite Wallet, select "Hardware Wallet", and click on Unlock with Trezor.

Give permissions to communicate and export the public key from the Trezor device.

Enter the passphrase (if enabled).

Adalite 2b.png

At this point, you should be presented with a wallet interface.

In the left part of the interface, you can see the Balance overview and your Transaction History. The right side of the screen is dedicated to sending and receiving.

To receive a transaction, use one of the addresses listed in the bottom-right part of the interface, labeled "My Addresses." All of these addresses are derived from your recovery seed. The addresses generated in the AdaLite interface are Shelley addresses.

To send a transaction, use the "Send ADA" panel placed in the top-right part of the interface.

Adalite 3.png

Staking ADA in AdaLite[edit]

What is Staking?

Staking is the process used for validating transactions on blockchains that use the so-called "Proof of Stake" protocols. One such cryptocurrency is Cardano. Unlike with Bitcoin, and other "Proof of Work"-based cryptocurrencies which utilize electricity to amass computational power, Cardano users participate in the network governance by pledging their funds.

The user can either run their own node and participate directly, or delegate their ADA to a staking pool, combining the weight of many users to compete for rewards from creating blocks.

Is this safe?

Yes. Neither the stake pools operators nor AdaLite has any access to your funds, as long as you keep your private keys (recovery seed) securely offline.

ImportantNever use your recovery seed in any other context than recovering the wallet on your Trezor device. To keep your coins secure, Trezor Model T only allows you to do this by entering the words using the touchscreen. Do not enter the words of your recovery seed anywhere else.

Can I "un-delagate" my funds and move them?

Yes, you can send your funds elsewhere at any time. You can even send all of your funds to an exchange and sell them. Your funds will stay delegated to a pool until the current epoch ends, then the registration expires automatically.

Can I delegate to several pools simultaneously?

No, you can only delegate the full balance of your wallet to one pool at the time. If you wish to delegate to multiple pools at once, you must send the portion of your balance to a different wallet (a different passphrase or recovery seed).

NoteYou can learn about staking, pools, and more in the official Cardano documentation.

Access the Staking tab in the top-left part of the interface.

Adalite 4.png

In the Delegate Stake section, there is only one configurable bar - this is where you place the ID of the stake pool of your preference. In AdaLite, the page loads with a pre-selected ID, which would delegate your ADA to AdaLite's own stake pool. You can use this pre-set pool and continue or visit sites such as ADApools and PoolTool, where you can browse the active stake pools and select one that meets your preferences.

The pool ID is a string of 56 random alphanumeric characters and looks like this: 0f292fcaa02b8b2f9b3c8f9fd8e0bb21abedb692a6d5058df3ef2735

After you place the valid ID, AdaLite will automatically fill in the rest and show the attributes of the specific pool. To continue, click the blue button that says Delegate.

Review the details of the proposed delegation and click on Confirm Transaction. You pay two small fees for your delegation. First there is a fee of about 2 ADA to register your delegation, and then a small fee to broadcast the transaction to the network and have it included in a block.

Adalite 7.png

Confirm the transaction details on your Trezor device and finallyHold to confirm.

Congratulations! Your balance is now delegated to a staking pool of your choice. If everything went smoothly, you should be able to see the details of your current delegation in the bottom-left section of the interface.

Adalite 12.png
Like Trezor? Get one here!