I recently jumped in on $SOUL and the more I learn about it, the more excited I am! We are still truly early on this project, and this really is the first Smart NFT chain. The marketcap is ~$375M, and yesterday when I got in it was still only ~$320M. At minimum I can see a $2B market cap, with the total potential being in the $20B+ range like $SOL or $ADA. Keep reading on what to do with your $SOUL once you purchase it.
Move $SOUL to a Phantasma Wallet from Kucoin
Currently Kucoin is the main exchange where you can buy $SOUL. You can check out my guide on how to buy here.
$SOUL on Kucoin is on the NEO chain. You’ll have to download a Phantasma wallet from their site. I tried both Poltergeist and Ecto wallet, but Ecto wallet was a little buggy and I couldn’t see the assets to bridge to the Phantasma chain. If you’re running into this issue keep reading and I’ll explain how I fixed the issue. From their telegram, they said that the rpc nodes take some time to sync so maybe this behavior is expected for now.
Steps to send $SOUL to your wallet:
- Go into Kucoin and initiate a withdrawal of $SOUL to the NEO address in your Poltergeist Wallet. The address will start with an ‘A…’.
- You will also need a little bit of $GAS to perform the swap from the NEO Mainnet to the Phantasma Mainnet. You’ll need at least 0.12 $GAS. Send this to your Neo address in your Poltergeist Wallet.
- Verify that these assets have hit your wallet. Once in the wallet you can send it to the Poltergeist chain with the button on the right.
What to do if you can’t see NEO assets in Ecto wallet.
- Check on the block explorer if the assets are actually there to make sure the transfer occurred. There is a link in the ‘Transfer from Neo’ row in the ‘Multi Chain’ tab in the Ecto Wallet.
- If you can see them there, but not in the wallet, then you can import your Phantasma wallet to Poltergeist. and continue following the above instructions.
Stake $SOUL on the Phantasma Mainnet to earn $KCAL
After bridging $SOUL to the Phantasma chain it will appear in the Phantasma section of your wallet. You can now click on the ‘Stake’ button to start earning $KCAL.
If you don’t have any $KCAL, you’ll have to swap 0.1 $SOUL for $KCAL to have the gas to perform the stake. Your $SOUL will be locked for at least 24 hours after you perform the initial stake
Congrats! You’re now earning some passive income while supporting one of the next biggest projects in crypto!
Here’s a tutorial video that covers these steps: