First Mobil Wallet for Cosmos And Things you need to Know before Mainnet Launch
From the Feb 27 Cosmos official announcement, Cosmos mainnet will release in about 10 days. What everyone cares most is that if I didn’t participate in crowdfunding of Atom, where can I go to buy Atom token. Also if I already owned Atom, how do I stake and earn rewards. In the following, Wetez will elaborate some latest news and everyone can have preparation.
3 Phases of the Cosmos Hub Mainnet
Phase I: Network Gains Stability
Phase II: Transfers Enabled
Phase III: IBC Enabled
In the below I will use Q&A to help everyone to understand
1. If Cosmos mainnet is launched, I can buy Atom?
No, it opens the Transfer(Trade) feature on the Phase II
2. Can I force to trade?
It is strongly recommended not to do this. The first phase of Cosmos’s main launch is stable. For such a large-architecture project and the largest BFT consensus mainnet launch, Dev teams indicate that there may be a rollback because of instability.
3. What is the rollback?
Rollback is a very serious problem in the blockchain. When Cosmos generates some fatal flaws due to the instability of the mainnet, it can repair the vulnerability by rollback. Return state to the previous block, and even return the state to the genesis block. What rollback may influence transactions is that transaction data on the blockchain may disappear during the rollback.
4. Can I still stake with my Atom?
After Wetez asked the related Devs, the answer is Yes. It is fine to process the operation of Staking. By delegating Atom to different validators, delegators can earn rewards from inflation of Cosmos (But it does have the possibility of rollback, that is to say, all rewards data may be reverted to 0. However as long as Atom holders don’t do transaction, each holder’s Atom is still at its own address and rollback will not affect the atom holders’ equity)
5. How do I process the delegation operation?
- Run the command line to perform the delegate operation (this is the safest way recommended by Cosmos officially)
Youtube tutorial： https://www.youtube.com/watch?v=ydZw6o6Mzy0
- Via Cosmos official desktop wallet Voyager (Cosmos officially said that Voyager is close to development, but it is under code audit for high security reason. It will not be launched with the Cosmos mainnet)
- Through third-party tool wallets such as Wetez (Android and IOS versions), Cosmostation (Android version), ISPX (IOS version)
The following is a demonstration of the Wetez mobile wallet. We have been working on the PoS field for a period of time. It is also one of the most popular Tezos mobile wallet for staking. After Cosmos mainnet is launched, there will be more detailed tutorials of Wetez Wallet.
(you can see atom)
- Delegation page
(You can see a list of different validators)
(Bond your atom for staking)
- Transaction history
(View your delegation transaction right away after you delegate)
- Reward page
(Check the Atom rewards you earn)
Some people may question about Wetez’s wallet. When Cosmos mainnet launch it does not have an official tool that is convenient for Atom holders, only through the three mobile wallets mentioned above or complex commands line process. Wetez has realized delegation feature on Tezos and we have reputation inside the Tezos community. Wetez is one of the largest node too. All of these above can be our reputation endorsement. We will answer the security questions in the follow-up articles.
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