ICON staking and voting coming life on August 26! Now all ICONists can experience the upbuilding of governance made by Foundation through P-Rep election with the ICONex wallet. In this simple guide we conduct you steply how to delegate and vote for appropriate P-Reps.
Benefits of Staking
ICON is a high-quality PoS network which made a tremendous step to safety and reliability providing the opportunity to delegate and choose top 22 Public Representatives nodes (P-reps) which will validate transactions and create blocks. Now participants can receive rewards that range from 6–36% annually for staking, furthermore, the ICON Foundation will give away 3 million ICX as rewards to early adopters who staked and voted during the pre-voting period.
There are only two conditions to take part in:
1. Stake your ICX during the pre-voting period
2. From August 26 till September 26 use your ICX to participate in the election of eligible P-Reps.
How to stake and vote
Step 1. Download the CHROME extension ICONex desktop wallet
Here the link to official ICONex wallet
Step 2. Create wallet and click on the Voting tab
Step 3. If you have a ledger, select the “My status” and find “Connect to ledger” button
Step 4. Choose the wallet you want to use for staking
Step 5. Find the “Adjust” button to choose wishful amount
Step 6. Drag it to the amount you want to stake and click on “Complete”
Step 7. Click on “Check transaction” and the program will redirect you to tracker.icon.foundation/transactions.
Step 8. Congratulations! Your ICX is now staked, so you can vote for P-Rep(s) of your choice
Step 9. Choose the P-Rep(s) and click “+” button
Step 10. Use the slider to adjust your voting power for chosen P-Rep(s)
That's all, congratulations!