NYM — Buying, staking, selling, ERC20 convert

5 min readFeb 12, 2023

In this article I will show you how to transfer NYM tokens from an exchange to a native network and stake it. For a successful case we need the following:

Metamask
Keplr
NYM wallet.
A little bit of ETH tokens.

We will also be using the Gravity Bridge, which will enable us to upgrade NYM from ERC20 to a native network.

Let’s touch on the following topics:

Buying NYM tokens.
Working with the Metamask wallet.
NYM and Keplr wallet installation.
Transferring NYM from Metamask to the NYM wallet.
Stake the tokens in the MixNode.
Withdrawing NYM tokens from the wallet to the exchange

1. Buying NYM tokens

The NYM token can be bought on the exchange on which it is traded. A list of exchanges can be found in this link.

On the Kraken exchange, NYM token can be bought immediately in the native network. And you can send tokens directly to the NYM wallet. However, not everyone can use the Kraken exchange due to sanctions. So the starting exchange, in my case, will be KuCoin, where I bought NYM token. Now these tokens need to be transferred to our Metamask wallet from the KuCoin exchange.

2. Working with the Metamask wallet

In order to operate with Metamask wallet you need a small amount of ETH tokens. They are needed to pay fees on the Ethereum network.

It is possible that you do not have a NYM token added to Matamask. To do this, go to Import Tokens and add the NYM contract listed below:

0x525A8F6F3Ba4752868cde25164382BfbaE3990e1

3. NYM and Keplr wallet installation

Set up a NYM and Keplr wallet. These wallets are linked because they work in the Cosmos ecosystem. First install the Keplr wallet and get a 12-word mnemonic phrase from it.

Now use the same words in the NYM wallet. In this way we will be linked between NYM and Keplr wallets.

4. Transferring NYM from Metamask to the NYM wallet

For this we will use the application https://bridge.blockscape.network/. Connect your Metamask and Keplr wallets to it. Then select the networks you want, as in the picture below, and make the transaction. The transaction can take up to 20 minutes.

5. Stake the tokens in the MixNode

When the tokens arrive in your wallet. You can deposit them in our MixNode. To do this, go to the Delegation tab and fill in the details.

Specify the number of tokens you want to stake and our Node Identity Key:

AoD24AziyL3Qfq3XqZX99p1CcuTvCLjkzB7EGHLynQKH

Our tokens will be in operation during the next epoch. In the picture below you can see that the start time of the new epoch is 10:26 am. This means that when that time reaches, our tokens will be in work and will start generating passive income in the form of NYM tokens.

After the new era, you will have detailed information about your delegation. You can also manage your delegation. To do this, click on the three points shown in the image below.

A window with the following parameters will pop up:

Delegate more — increase your delegation. (you need to have free tokens on your balance to do so)
Undelegate — Output your delegated tokens. Takes one epoch or about an hour of time. The tokens will appear on your balance.
Redeem — collect reward tokens for the delegation. (Passive income). The number of tokens you can redeem is indicated at the top of your interface. (New rewards)

6. Withdrawing NYM tokens from the wallet to the exchange.

The easiest way to withdraw the NYM token is to send it from the wallet to the Kraken exchange, as it supports the native token. If you can’t trade on the Kraken exchange, the token needs to be wrapped in the ERC20 standard.

First we will prepare the Keplr wallet and make the transaction from NYM wallet to Keplr using IBC transfer.

Open Keplr and connect the Gravity Bridge network.

Then go to settings and activate Developer Mode.

Making a transaction from NYM wallet to Keplr on Gravity Bridge using https://spacestation.zone/. Send in whole numbers. For example 169 as in my example.

Tokens should appear in the Keplr wallet.

Now go to https://bridge.blockscape.network/ and transfer NYM from Keplr to our Metamask. Keep in mind that tokens will take 40 minutes or more if you choose Slow commission.

Now than your tokens are in your Metamask wallet, you can withdraw them to any exchange that supports NYM token trading. In my case, I withdrew the tokens to KuCoin.

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👉Metamask wallet
👉Keplr wallet
👉Nym wallet
👉Kraken Exchange
👉KuCoin Exchange
👉Identity Key — AoD24AziyL3Qfq3XqZX99p1CcuTvCLjkzB7EGHLynQKH
👉Explorer of our Mixnode validator
👉Gravity Bridge blockscape.network
👉Gravity Bridge Spacestation

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Pavel-LV | C.Sailors#7698 / @SeaInvestor