BAND Staking Guide on Atomic Wallet For Desktop
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As part of the Stage 2 BandChain Phase 0 Mainnet rollout schedule, we have collaborated with our strategic partner, Atomic Wallet, to release a step-by-step guide on how to create a BandChain wallet and begin using BAND mainnet tokens to start sending, staking and claiming rewards.
The following guide is designed for desktop/web wallet users with the mobile release and staking guide to follow suit shortly!
Atomic Wallet is one of the largest cryptocurrency wallets on both mobile and desktop to integrate full support of the BAND token to allow secure storage and staking.
Check out the official announcement of our partnership below:
⚠️ Band Protocol is not responsible or liable for the risks or security flaws of third party wallet partners. Please conduct your due diligence before using applications and transferring funds.
Step-By-Step Guide to Stake on Atomic Wallet
🙋♀️ Don’t hesitate to contact us via email or Telegram if there’s any questions or issues related to staking BAND.
Step 1 — Download Atomic Wallet
Atomic Wallet is available on both iOS/Android and desktop. Search “Atomic Wallet” in Apple Store or Google Play to download and install the application on mobile or head to their website to download the desktop version.
Step 2 —Create a New Wallet
After opening the application, you can choose to import an existing wallet from backup or create a new wallet. Clicking on “New Wallet” will initiate the creation of various cryptocurrency wallets including a personal BAND mainnet token address which we’ll be using.
Creating a new wallet will prompt the creation of a password used to access the wallet and a backup mnemonic phrase.
⚠️ NOTE: Mnemonic phrase is a private key that is not encrypted, meaning that anyone with access to the phrase will have full control of the underlying funds. As good practice, you should use physical means such as copying on a paper to back up your Mnemonic phrase and NOT keep a digital copy.
Step 3 — Deposit BAND to Your New BandChain Address
If you do not have any BAND in your account, you will need to deposit BAND to your address before staking or making transactions with your account.
⚠️ NOTE: Atomic Wallet supports BAND mainnet tokens and BAND ERC20 tokens. Make sure to check if the wallet you are sending your BAND from is a BAND mainnet address starting with “band”.
Search for ‘BAND’ and click on Band Protocol. The asset denominated as BAND* is the ERC20 wallet for BAND which is not used for staking and thus not part of this guide.
After opening your Band Protocol wallet, click on ‘Receive’ where you’ll be able to scan the QR Code or paste this address to send BAND from another personal wallet of exchange address.
Step 4 — Delegate (Stake) Your BAND to Validators
With BAND in your new BandChain address, you can now delegate to validators of your choice to start earning block rewards on the Band Protocol ‘Staking’ tab on the left.
Clicking ‘Band Protocol’ you’ll open the staking interface which displays the yearly yield, available balance for staking, staked amount and rewards.
Press ‘STAKE’ to proceed.
You will now see the amount you wish to stake along with a validator of your choice. Be sure to conduct due diligence and use CosmoScan before staking for validators there are slashing risks that follow for downtime and malicious actions.
Enter your password -> press ‘Confirm’ -> Done!
Your BAND is now staked and block rewards will be generated in real-time, ready for you to claim whenever you like.
More To Come
Over 71+ million BAND tokens staked already across 33 active validator nodes, the Band Protocol decentralized oracle network is another step closer towards hyper-connecting DeFi and all smart contracts with real-world data.
With numerous exchanges and wallets supporting the BandChain Mainnet, stay tuned in our Telegram and Twitter for the next wave of announcements and staking guides!
About Atomic Wallet
Atomic is a decentralized multicurrency software wallet that supports over 40 separate blockchains with 300+ custom tokens. The wallet has the buy crypto option provided by Simplex, instant exchange by ChangeNOW and Changelly, and non-custodial staking with a large number of validators.
It has a single interface for all these options, which makes Atomic easy as well as safe to use. Private keys are encrypted on users’ devices, and Atomic doesn’t have access to any of the data.
Moreover, the wallet has its native token AWC, which provides benefits to 40,000+ users, offering affiliate, bounty programs, and cashback rewards for exchange. More use-cases for AWC are to come.
Website | Twitter | Telegram | Reddit | Facebook | Medium | Github
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
Website | Whitepaper | Telegram | Medium | Twitter | Reddit | Github
