How to Stake Your EGLD Smarter With Entity
Staking is a core feature of MultiversX. EGLD staking gives investors a reliable passive income stream while also making the network more decentralized and secure. And with Entity, users can now make even smarter staking decisions.
Secure, earn, decentralize
MultiversX (formerly Elrond) has 3200 total nodes — more than any other Proof of Stake blockchain except for Ethereum.
All of these nodes work together to make the network run in a safe and distributed manner. Since each node must have at least a certain amount of staked EGLD to validate transactions, staking providers rely on users from the community known as delegators to stake with them.
When you delegate your EGLD to a staking provider, you help MultiversX run smoothly while also earning daily rewards for your contribution. Since delegating is a non-custodial process that uses secure smart contracts, you can achieve an attractive APY while maintaining full control over your funds.
But how do you choose the right staking provider?
Entity: built by staking experts
That’s where Entity comes into play.
Since Entity is built by two major MultiversX staking providers in Istari Vision and Titan Stake, staking is a key part of the Entity Growth Engine. One of the ways we leverage this expertise is through Entity’s unique Staking Provider Metrics and Delegation Metrics tools.
And while we are proud of our track records as Validators, we know there are a lot of other high quality staking providers on MultiversX who deserve your attention too.
Level up your staking research
With Entity’s Staking Provider Metrics module, it’s simple for investors to compare different staking providers with a range of key statistics.
With a chart and sortable table, this module displays the number of delegators, amount of EGLD staked, annual percentage rate (APR), number of nodes, and more for every MultiversX staking provider.
Identify the best staking providers
Some investors might focus exclusively on the APR percentage when choosing a staking provider. However, APR is only part of the bigger picture.
With Entity, it’s easy for users dive deeper.
Based on our experience, it is also critical to look at the number of nodes, amount of rewards distributed, and number of delegators that each provider has.
Having several nodes typically mean a Validator is more reliable and sustainable, while the amount of rewards distributed reflects a staking provider’s historical track record and the number of delegators can indicate a level of trust from the community.
While Entity provides an overview of the staking provider ecosystem on MultiversX, we also encourage users to check out the websites of different Validators. It is important to not just look at statistics, but also what kind of team each staking provider has and what other value they are bringing to the community.
Keep in mind that Entity’s Staking Provider Metrics aren’t just for investors — these statistics are also useful for builders and Validators who want to plan for the future.
Monitor your delegation history
Once you’ve delegated your EGLD, there is not much left to do besides sit back and occasionally redelegate your rewards.
However, the Entity Team realized the MultiversX community needed a tool where users can keep track of their personal staking history. That’s why we built the Delegation Metrics module for investors to easily track and optimize their EGLD delegations.
This feature gives you the power to monitor your staking history over whatever timeframe you desire.
With Entity’s Delegation Metrics module, it is effortless to see how your staked EGLD has grown over time. You can even view advanced data such as your total rewards or EGLD flow to analyze the exact returns on your investment.
Additionally, users can easily stake more EGLD directly within Entity or download a .CSV export of their delegation history if so desired.
Take your Web3 investments to the next level
These cutting-edge features are just one of the ways Entity empowers MultiversX investors to make smarter investment decisions.
Entity’s investment tools all work in harmony with our core module, the Entity Launchpad, which will go live in the coming months.
In the meantime, make sure to follow us on Twitter and Telegram to keep up with all of Entity’s exciting updates.
Enhancing the MultiversX Ecosystem
Entity is a Launchpad and suite of cutting-edge tools for Web3 builders and investors. Entity is focused on catalyzing growth in key areas such as DeFi, GameFi, NFTs and real-world blockchain applications.
MultiversX is a highly scalable, secure and decentralized blockchain network created to enable radically new applications, for users, businesses, society, and the new metaverse frontier.
