BeamX: How to Stake Beam for BeamX on the Beam Desktop Wallet

Niran
Niran
Oct 20 · 4 min read

The $BEAMX confidential asset is the DAO governance token for the $BEAMX DeFi platform. $BEAMX will be obtainable through participation in DAO activities such as providing liquidity to the DeFi applications governed by the DAO, or by participating in the governance process (Vote to improve the ecosystem & earn free $BEAMX).

This guide is a step by step procedure on how to stake $BEAM to farm $BEAMX on the Beam Desktop Wallet.

  1. The first step is to download the Beam Desktop wallet here and install it on your PC.
Beam Desktop Wallet Download Page

2. Once your wallet has been set up and your seed phrase saved offline, kindly send some Beam to your wallet for the staking process. You can purchase the Beam coin from these exchanges or swap your cryptocurrencies for some Beam coin here. You can also get some little Beam coin from the Beam faucet right there within the Beam Wallet.

3. Once you’ve received the Beam coin in your wallet, click on the DAPP Store icon to stake your Beam coin in other to farm some BEAMX tokens.

BEAMX DAPP Store

4. On the BeamX DAO window, click on the deposit button. This will enable you to enter the amount of Beam you want to stake to farm the BeamX token.

Deposit Beam Button

5. After clicking on the deposit button, a mini window will pop up. On this window, you will enter the amount of Beam you want to stake and how long you want to stake your Beam coin in the staking calculator. The staking duration available is 1 week, 2 weeks, 1month, 2 months and 3 months. A farming estimation will be calculated based on the amount of Beam you want to stake and the duration you want to stake it for.

Beam staking window

6. After completing step 5, a confirmation window will be displayed.

Confirm Beam Staking

Click on the cancel button to go back to the previous page or the confirm button to confirm your entry.

7. You can check the status of all staking transactions by clicking on the Transactions tab.

Transaction Tab
List of Staking Transaction

8. You can claim to earn the BeamX token up until the set duration in Step 5 is met. To claim your BeamX token, click on the claim reward button.

Claim Reward

9. A confirmation window will pop up, you can either cancel to go back to the previous window or confirm to proceed with the withdrawal of the farmed BeamX token.

Confirm Claim Reward Window

10. Another confirmation window will pop up. This window shows the amount of BeamX token you are withdrawing to your wallet and the transaction fee that will be incurred.

Confirm Reward & TX Fee Window

11. You can see the status of the BeamX token withdrawn from the Transaction tab below.

Status of the BeamX withdrawn to Wallet.

12. Once the transaction has been confirmed on the blockchain, the BeamX token withdrawn will show in your Beam Wallet.

Withdrawn BeamX Token

I hope you find this article helpful. Please drop your feedback and suggestions in the comment section below.

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