My Delegation Story: Journey into Livepeer
Part 1 of the series
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When I first acquired my Livepeer (LPT) tokens, I knew they held potential beyond just sitting idle on an exchange. But potential alone doesn’t generate rewards. To unlock the real value of my LPT tokens, I had to venture into the world of staking — an exciting but somewhat daunting task. My journey began with bridging my tokens over to Layer 2 (L2) on Arbitrum and learning how to delegate them to an Orchestrator. What started as a personal quest to earn rewards quickly turned into a mission to help others navigate this process, support the Livepeer network, and develop educational resources. This blog series will chronicle that journey, from my initial steps to becoming a knowledgeable participant in the Livepeer ecosystem.
The journey begins: bridging LPT to Arbitrum
At first, my LPT tokens were on an exchange, not earning anything. To change that, I needed to bridge them to Arbitrum, a Layer 2 solution that allows for efficient and cost-effective staking. If you’re new to this process, it might sound complicated, but it’s quite manageable once you get the hang of it. I used a step-by-step tutorial that guided me through the process. Bridging tokens involves moving them from one blockchain layer to another, which requires a bit of technical know-how, but don’t worry — I’ll share the exact resources (below) I used so you can follow along without any headaches.
Delegating LPT: finding the right Orchestrator
Once my tokens were on Arbitrum, the next step was to delegate them to an Orchestrator. Orchestrator are responsible for processing data and providing crucial services within the Livepeer network. Choosing the right Orchestrator is essential, as it impacts the rewards you earn and the security of your staking. In the end, I wanted to choose and Orchestrator that was active in the community and took the time to help out others. If you’re new to this, you’ll find the process straightforward with the right guidance.
My initial investment and tracking growth
I started by delegating a specific amount of LPT tokens, and I also made 2 additional purchases to increase my stake. Tracking the growth of my staking rewards became a fascinating part of this journey. Using Live Pioneers App, I can monitor how my earnings grow over time. In this section, I’ll share the numbers — how much I started with, the additional investment I made, and the growth I’ve seen so far. This transparency will give you a real sense of what’s possible with Livepeer staking.
As I navigated through this process, I realized the value of sharing what I’ve learned. The Livepeer ecosystem is growing, and there’s a need for clear, accessible resources to help others get involved. That’s why we are committed to developing guides, tutorials, and educational content to make it easier for newcomers to delegate, and support the network. We will point you to helpful resources, including tutorials on bridging and delegation, and share my tips for getting the most out of your Livepeer tokens.
There is a 7 day thaw waiting period when you want to remove your LPT from delegation. If you don’t like this aspect, you can keep your LPT liquid by taking advantage of Tenderize protocol. Below is more information:
Looking forward: tracking additional earnings in a multipart series
This blog is just the beginning. In the upcoming series, We’ll dive deeper into my staking journey, tracking the additional earnings generated over time. We’ll explore advanced delegation strategies, discuss network developments, and provide ongoing insights into how the staked LPT continues to grow. Whether you’re new to Livepeer or a seasoned participant, I hope this series will provide valuable information and inspire you to take your own steps in the Livepeer ecosystem.
Do you have any questions?
Live Pioneers is the first unofficial community for long term LPT holders and supporters of the Livepeer protocol ▶️
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