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EOS Staking and Voting for Rewards via Wombat Wallet and Bloks.io

A step-by-step Guide.

In this Guide we aim to cover the Staking/Voting process and how to earn 3% yield with your EOS tokens. If you are curious about the PowerUp model, feel free to refer to our previous Guide about the EOS transition to Power Up Model and solutions for possible issues with CPU/NET.

How to get returns on EOS? Voting in EOS

Let’s study a bit the mechanics behind the voting. Currently, 1% of the inflation per year goes to Block Producers for block production. Most of them reward their voters with 80% of that 1% inflation. 20% of that 1% inflation per year BP’s keep for themselves to pay and run their infrastructure.

Why to Vote?

Vote for Block Producers to get up to 4% APY. You can use Anchor Wallet, bloks.io, genpool.io, eosx.io or eosauthority.com to vote for a Block Producer or for proxy.

Note, that in order to earn rewards by voting, you must specifically vote for proxy that provides rewards (for instance, ‘everstakeone’). While voting for BPs helps them to maintain their level of service and supports the EOS ecosystem it doesn’t provide you with rewards. Still, voting for BPs is highly encouraged.

“Voting helps align interests among token holders, developers, and network operators, which paves the way for innovation. Vote to prioritize network security, encourage constructive participation, and promote transparency”. We refer to one of the community sources to explain a voting concept in more detail: https://eos.io/eos-public-blockchain/voting/.

Block Producers (BPs) contribute to the EOS Public Blockchain ecosystem, support community programs and initiatives. You can get more information about AtticLab BP on EOS Block Producer Research Portal.

A brief FAQ on rewards terms

What is a rewards proxy?

A rewards proxy is a service where BPs can reward voters a percentage of EOS inflation they receive in return for their vote.

What is APR%?

APR or Annual Percentage Rate is the amount of EOS that you will receive each year as interest.

What is a proxy fee?

The proxy fee is the fee that the proxy takes for its service as a rewards proxy. The fee incentives proxies to rally votes for their proxy and compensates them for work that is usually unpaid. The funds are sent directly to the proxy account on a daily basis.

How do I receive rewards?

To receive rewards daily all you need to do is stake your EOS to CPU/NET (or REX) and vote for your desired rewards proxy.

Staking/Voting process step-by-step

Create EOS Account

If you don’t have an account, you’ll have to create one using EOS Account Creator or Wallets (like Wombat). The service provided by the EOS Account Creator isn’t free. You will be prompted to pay for account creation upon the initial steps of choosing the account name and generating public/private keys.

If you want to create an account for free, you can use Wombat Wallet.

Proceed to the website and choose the relevant version. The wallet is available on desktop, iOS & Android. Let’s introduce the desktop version in this Guide.

Install Google Chrome extension and open Wombat Wallet in your browser by clicking on extension icon in the upper right corner of the browser.

Sign in if you already have an account, or click ‘Sign up’ link.

Follow the instructions and sign in with Google, Facebook, Twitter, or Apple. Set a passphrase to protect your account.

Click ‘Create new account’, or ‘Import existing’ if you have one already:

In case you are creating a new account, proceed to choosing an account name and follow instructions. The name shall include 12 symbols (a — z and/or digits from 1 to 5, lowercase latin letters). Choose EOS tab in the wallet’s top menu:

Choose how you’d like to restore your account from the cloud if needed — with the help of Google Drive or Dropbox:

Done! Close the tab and start using the extension by clicking on its icon in the upper right of your browser window.

Let’s open a Wombat Wallet extension and start using our EOS account by selecting ‘EOS’:

In EOS, the account name plays the role of your address for transactions. Feel free to copy and share it with the sender when you need to receive tokens.

Please refer to our PowerUp Guide if you need to power up our EOS account in order to make transactions in the network.

Staking / Voting for rewards

The amount of EOS staked is also your voting power. Only staked tokens contribute to voting power when you vote for Block Producers. Summarising, stake EOS if you wish to vote and get returns! Otherwise, just power up your account for transactions.

There are few web resources to use to vote for Block Producer or for a proxy in order to get rewards. You can also use Anchor wallet for staking/voting. However, we will cover in detail just one of the ways to stake and vote in this Guide.

We advise to use bloks.io along with the Wombat Wallet for the simplicity of the process and clean UI/UX. Let’s cover how to vote for BP first, and then for proxy.

Note, that in order to earn rewards by voting, you must specifically vote for proxy that provides rewards (for instance, ‘everstakeone’). While voting for BPs helps them to maintain their level of service and supports the EOS ecosystem it doesn’t provide you with rewards. Still, voting for BPs is highly encouraged.

Vote for Block Producer: atticlabeosb

Open bloks.io in your browser:

You will be prompted to login using the wallet. Let’s use Wombat Wallet in our scenario since we have covered it a bit already and it’s really simple to use. Click on ‘Login’ in the upper right of the window and choose ‘Wombat’.

Upon logging in with Wombat you may proceed installing bloks.io app or feel free to cancel the installation since it’s not required.

Select ‘atticlabeosb’ in the Block Producers list and press ‘Vote’ (a round button in the upper right of the screen).

However, you may face an error message: ‘User must stake before they can vote’.

To solve that, choose ‘Wallet’ in the top menu and proceed to ‘Stake CPU/NET’ in the left-side menu:

“Staking your tokens in exchange for voting adds a three-day buffer for you to save your tokens from theft should your keys ever be compromised. Once you stake your tokens, there is a 72 hour cooldown period until you’re able to transfer them out of your account.”

You need to stake EOS in order to be able to vote and get rewards. Don’t get confused — we don’t stake to get resources for performing transactions. We stake to vote.

Enter an amount of CPU and NET to stake (in EOS). We use a small amount for CPU in our example, just for a reference. Also keep in mind that you don’t need to stake much NET resources — 0.1 EOS will be enough for that. Stake CPU to get actual rewards.

In case if you stake and vote for ‘everstakeone’ proxy, the yield is 3% and it will be applied to the total amount you staked.

Let’s say, you have staked 1000 EOS for CPU and 0.1 EOS for NET — you’d get 3% yield on 1000.1 EOS, which is ≈30 EOS per year.

Press ‘Stake’ to proceed after you come up with the numbers.

Sign the transaction in the Wombat Wallet extension. Enter your passphrase if prompted.

Once you’ve staked the resources successfully, get back to the ‘Vote’ button in the upper right. Simply staking won’t bring you rewards! Don’t forget to vote for a proxy that provides rewards, in addition.

Make sure you’ve selected the Block Producer you want (for instance, ‘atticlabeosb’). Press ‘Vote’ button:

Sign the transaction in the Wombat Wallet extension:

Congratulations! You have staked resources and voted for BP. Feel free to check the transaction status on bloks.io with the hash provided:

To check the status of your stake, go to the top menu on bloks.io: ‘Wallet’‘Stake CPU/NET’‘Breakdown’.

Vote for Proxy: everstakeone

Let’s now cover voting for proxy via bloks.io.

As we mentioned earlier, in order to earn rewards, you must specifically vote for proxy that provides rewards (for instance, ‘everstakeone’).

Type ‘everstakeone’ proxy in the search field and press the button ‘Proxy to everstakeone’.

Sign the transaction in the Wombat Wallet extension:

Congratulations! You have staked resources and voted for a proxy and will be getting rewards for the amount staked. Feel free to check the transaction status on the same resource, bloks.io, with the hash provided:

Another websites to vote

Let’s mention other possible scenarios. You can vote for proxy on:

  • genpool.io: open the website and press ‘Stake and Earn’.

In order to get a full Block Producer description choose ‘evertsakeone’ proxy and click the ‘Info’ button next to it:

Use a calculator field to estimate your revenue. Press the ‘Stake’ button. Log in using one of the wallets suggested. Vote for ‘everstakeone’ proxy using the wallet to sign transactions.

  • eosauthority.com. Press the ‘Vote for Proxy’ blue button and follow instructions.

Use Anchor, Ledger, or SimplEOS (it is not advised to use Scatter since it is outdated) to log in and vote. Vote for ‘everstakeone’ proxy using the wallet to sign transactions.

Go to the ‘Resources’ tab in the menu to stake CPU/NET in the same way as described earlier. Proceed to the ‘Governance’ tab and vote for ‘everstakeone’ proxy using Anchor to sign transactions.

How to Unstake

To unstake your EOS, choose the ‘Unstake’ tab in the bottom menu. Don’t forget, you’ll need to wait 72 hours to be able to claim your refund.

In the ‘Unstake’ tab enter the amount of CPU/NET you want to undelegate and press ‘Unstake’.

Once the waiting period is over, proceed to the ‘Refund’ tab in the bottom menu on bloks.io and claim your EOS to have them available for transactions again.

Another websites and wallets to vote

We won’t be covering all possible ways to stake and vote in this Guide. However, let’s mention other possible scenarios. Feel free to show us your support and vote for ‘atticlabeosb’ BP on:

  • eosauthority.com. Press ‘Vote for atticlabeosb’ button and follow instructions.

Use Anchor, Ledger, or SimplEOS (it is not advised to use Scatter since it is outdated) to log in and vote. Vote for ‘atticlabeosb’ BP using the wallet to sign transactions.

Go to ‘Resources’ tab in the menu to stake CPU/NET in the same way as described earlier in this Guide. Proceed to ‘Governance’ tab and vote for ‘atticlabeosb’ BP using the Anchor wallet to sign transactions.

FAQ on Voting in EOS

You can check EOS Voting Stats here.

Voting Analytics is available here.

All EOS account holders are kindly requested to vote for the ideal Block Producer candidates. You can vote for up to 30 Block Producers at a time. The information below is provided by EOS Community:

How long is my vote valid for?

Your votes are valid for a long time. However, they do have a half-life of 365 days. This means after 90 days, the votes are worth 80% of their original weight.

How often can users vote?

EOS accounts will be able to vote as many times as they want, every time an account changes its choices, the votes are allocated to the producers chosen.

What happens if I change my vote?

Every time you vote, the previous votes are overwritten with the new votes. This happens each time you vote, so new choices you make will overwrite the old ones.

Does voting cost me anything?

Voting for your favourite block producer candidates is absolutely free! It is important to select candidates that you feel will help the community and the EOS network.

When will voting end?

There is no end date on voting. You can vote and change your vote as many times as you want. Votes will keep being accepted as long as the EOS network is available.

Is Voting Secure?

As long as your private key is safe. Do not use your private keys in places that you don’t trust. We recommend not to use private keys on any website directly.

About AtticLab

AtticLab (Kyiv, UA) was founded in 2016. In the very beginning we developed blockchain solutions for banks and other financial institutions in collaboration with Ambisafe, Alliance Bank and Humaniq. Now our diverse and experienced team allows us to focus on building our own blockchain applications. Our roadmap of the projects include cryptocurrency exchange Cryptagio and open-source banking software openbankIT.

Mission of AtticLab is to create a compliant and decentralized financial system that benefits all its participants. As part of our strategy we support open source blockchain initiatives and share our expertise with the blockchain community by delivering guides and educational content as well. Our past experience of working with banks and other financial institutions gives strong evidence that the modern financial system suffers from the “code is the law” attitude. The future decentralized financial system needs arbitrage. That is why we believe in the approach that the EOS team sticks to. To facilitate the development of the EOS ecosystem, AtticLab has become the EOS Block Producer and shares its expertise along with resources with the global community.

Being EOS Block Producer

At AtticLab, we believe in the concept and technology behind EOS. That is why we commit our resources to its development and mass adoption. As a Block Producer, we run a complex infrastructure with nodes located in Ukraine, Singapore, and Germany. Our top-notch hardware and software allow us to be in the TOP-5 of the fastest EOS Block Producers.

As a Block Producer AtticLab:

– performs technical tasks (creates and validates blocks, hosts full seed node and back-up servers);

– bears governance responsibilities (manages buggy accounts, take-down notices of files, manages hard and soft forks).

You can support the AtticLab/Everstake team by voting for us. This will help us to intensify our support of the EOS Ecosystem and add to the platform development.

Contact us

Website: https://atticlab.net/, https://everstake.one/eos

Telegram: atticlabeosb

Telegram Support Chat: https://t.me/everstake_chat

Twitter: @atticlab_it

Medium: https://attic-it-lab.medium.com/ and https://medium.com/everstake

Github: https://github.com/atticlab/

Useful links

EOS Website:

https://www.eoscommunity.org

EOS Explorer:

https://www.bloks.io

Wallets:

Wombat Wallet (free tx and automated resource management)

Anchor Wallet (free accounts and free tx)

TokenPocket Wallet

To power up an account:

https://eospowerup.io/

Create EOS account:

https://getwombat.io

https://eos-account-creator.com

EOS Community Forum:

https://forums.eoscommunity.org

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