How to stake BUMP tokens to earn rewards with Bumper in 8 easy steps
Bumper allows you to stake unbonded BUMP tokens, and earn rewards for contributing to the security and stability of the protocol.
Not sure what Bumper or the BUMP token is? Shame on you… ok, not really… but you might like to read this article explaining Bumper, or this one if you want to find out more about the magical properties of the BUMP token itself.
Read on for a step-by-step guide on how to Stake BUMP in just 8 super easy steps.
Step 1 — Connect your wallet
In order to stake your BUMP tokens, you first need to connect your wallet to the Bumper dApp.
Step 2 — Navigate to the Stake tab
Click on the Stake tab to begin.
Step 3 — Begin the staking process
Scroll down to the staking information area below, and click the Stake button. This will open the Staking function page.
Step 4 — Choose the amount to stake
In the first box, you will see the amount of BUMP in your wallet, as well as the amount which is available for staking.
Note BUMP which is already staked, or which is being used for bonding in open Taker or Maker positions cannot be staked.
In the second box, select the amount of available BUMP you wish to stake using the slider.
You can click the max button to stake all available BUMP in your wallet.
Step 5 — Choose staking period
In the next box down, select your staking term.
You can either choose a Fixed staking period (30, 60 or 90 days) or a flexible period.
Note: The amount of BUMP you will earn depends on how long you stake for, with the highest multiplier being for staking for the longest fixed period.
If you wish to automatically renew staking at the end of your term, use the Auto-renew toggle. Auto-renew is disabled by default.
Step 6 — Review
In the final box, you can review your chosen amount, term and see the current stake rate you will be earning.
Once you are ready to proceed, click the Next button.
Step 7 — Confirm Staking
Next, you will be moved to the confirmation page. Make a final review of your staking position, and when you are happy to proceed, make sure you accept the terms and conditions using the checkbox, and then click the Confirm button.
Step 8 — Confirm Transactions
Now you need to confirm the transactions in your connected wallet.
There are two steps, firstly a signature request (which should require no gas fee to be paid) and secondly the actual transaction itself (which does require a gas fee to be paid).
Once you have confirmed these in your wallet, the staking transaction will be submitted. It may take a few moments for the transaction to be confirmed.
Once the transaction has been confirmed, your BUMP tokens will be staked and you will be able to see them on the staking assets page.
