Livepeer — Ultimate Liquid Staking Guide via Tenderize.me
Welcome to the world of Livepeer token staking! Livepeer $LPT is revolutionizing the video streaming industry through decentralized video infrastructure DePIN, powered by its native cryptocurrency, Livepeer token (LPT).
Staking LPT not only supports the network’s operations but also enables you to earn rewards and fees for your contribution.
**What is Tenderize?**
Tenderize stands as a reputable decentralized finance (DeFi) protocol operating across both the Ethereum and Arbitrum networks. Leveraging Tenderize and staking to our Livepeer orchestrator, delegators can utilize their staked tokens within DeFi applications to amplify yields, liquidate, or collateralize their staked positions.
In this comprehensive guide, we’ll walk you through everything you need to know about staking Livepeer tokens on Tenderize. Whether you’re a seasoned crypto enthusiast or just diving into the world of decentralized finance (DeFi), this guide will equip you with the knowledge and tools to start staking LPT effectively.
From understanding the basics of Livepeer and its underlying technology to setting up your staking environment and maximizing your rewards, we’ve got you covered. By the end of this guide, you’ll be ready to actively participate in the Livepeer ecosystem, contribute to its growth, and earn rewards through staking.
Let’s embark on this staking journey together and unlock the full potential of Livepeer tokens!
- **Buying LPT:**
Livepeer tokens are currently available on Ethereum Mainnet and Arbitrum One. These are two different chains, and staking is only supported on Arbitrum One.
— **Choosing a Reliable Exchange:**
You have two options here: Centralized Exchanges (CEX) or Decentralized Exchanges (DEX) like Uniswap. If you choose a CEX such as Binance or Coinbase, you’ll receive Livepeer tokens on Ethereum Mainnet. This means you’ll need to use a bridge to transfer them to Arbitrum One for staking. On the other hand, if you buy LPT on Uniswap, you can directly use them on the Arbitrum network.
To buy LPT on Uniswap, you’ll need some ETH or stablecoins on Arbitrum as well. Most Centralized Exchanges support withdrawals of stablecoins or ETH on Arbitrum, allowing you to send them to your wallet address.
— **Buying on Uniswap:**
1. Go to [Uniswap](https://app.uniswap.org/swap) and connect your wallet.
2. Ensure you select the Arbitrum network.
3. Select the LPT token and specify the amount you want to receive, then click “Swap.”
4. After the transaction is confirmed, you’ll see LPT tokens in your wallet. If you don’t see them, you may need to import the LPT Arbitrum token address into your wallet.
— **Converting to Arbitrum:** (You might skip this step if you already have your LPT on arbitrum one.)
After Buying LPT on a CEX withdraw your LPT tokens to your Ethereum Mainnet ERC20 wallet.
*Using the Bridge:*
1. Visit [bridge.arbitrum.io](https://bridge.arbitrum.io) and connect your wallet to Ethereum Mainnet.
2. Select LPT from Ethereum to LPT on Arbitrum One
3. Click “Move funds to Arbitrum One” to initiate the approval transaction for bridging LPT to Arbitrum One. Once the approval transaction status changes from pending to success (about 10 mins), you can deposit LPT.
4. Confirm the transaction in your wallet to complete the bridging of LPT from L1 to L2.
Once the bridging process is complete, switch from Ethereum Mainnet to Arbitrum One in your wallet. Your tokens should now be visible in your Arbitrum wallet, and you’re ready to stake.
3. **Staking Process:**
— **Overview of Livepeer Staking:** Head to [Tenderize](https://app.tenderize.me/tokens/livepeer?validator=0x0d509d8b46b072f8fc330942b2e3cc0ac34d6d8d), connect your wallet to the Arbitrum network, enter the desired stake amount, and click “Stake!” Follow the prompts to approve and stake your LPT tokens, earning rewards and points for the Tenderize airdrop.
