What Is ACRE (Arable Protocol) and How to Stake It
Arable, which runs in the Cosmos Ecosystem, is the first decentralized synthetic farming protocol that makes multi-chain farming accessible and convenient for users. Typically, when yield farmers want to earn the highest rewards, they are forced to use multiple farms and chains to get the best opportunities and most profits. But this of course comes along with increased complexity and effort in the form of bridging, swapping, and extra time managing the farming activities. However, with Arable, multichain farming is executed in one place on a single app and on a single chain — making things much easier and more profitable for the user.
Arable makes all this possible by providing synthetic derivatives (synths) of native chain assets. The value of all synths are backed by assets like AVAX, USDT and Arable’s native token ACRE. The ACRE token is used for governance, fees, providing rewards to validators, liquidity miners, delegators, and stakers. In this article, we will go through the process of staking ACRE tokens through Everstake.
Why Stake ACRE with Everstake?
Here at Everstake, we are a team of experienced developers, financial experts, and blockchain enthusiasts. We run highly secure and reliable nodes for PoS/DPoS protocols using enterprise-level hardware to ensure maximum efficiency and security. Everstake is a key validator for a number of top blockchains including Tezos, Solana, Cosmos, ETH 2.0, Polygon, EOS, Chainlink, among others.
When you stake with Everstake you get the assurance of working with a validator that has:
- A 99.9% uptime (which includes the security of multiple servers, back-up nodes, and dedicated DevOps for every chain).
- Over $6.2 billion staked in digital assets.
- Sustainable payouts for over 625,000 delegators (stakers).
- A vast portfolio. Everstake is a reliable validator for 50+ blockchains and counting.
- 24/7 network monitoring and support.
Staking ARCE Tokens with Everstake
Before staking, you’ll need to create a wallet and ensure it has ARCE tokens. If you already have ARCE tokens inside your wallet, you can skip directly to the staking section.
Creating A Wallet For Your ARCE Tokens
Being that the Arable protocol is on the Avalanche blockchain, you’ll need to use a non-custodial wallet like MetaMask and ensure you select the Avalanche network. Here’s how:
Step 1: Go to MetaMask official website and select any of the Download buttons.
Then click the Install MetaMask button.
Step 2: On the extension page, click the “Add to…” button. Depending on the browser you’re using, this may say Add to Chrome, Add to Brave, Add to Firefox, and so on. Once you click the Add button, be sure to approve the installation of the plugin.
Step 3: Once installed, open up MetaMask and select the network drop-down button in the top right. This is defaulted to the Ethereum Mainnet network, but we will change this to Avalanche.
Now click on Add Network.
You will now see that Metamask is set to the Avalanche network.
Step 4: Add support for the ACRE token to MetaMask.
In order to view ARCE tokens in your MetaMask wallet, you’ll need to add its token address.
First click on the Import Tokens link.
Paste the contract address 0x00ee200df31b869a321b10400da10b561f3ee60d into the ‘Token Contract Address’ field of the Import Tokens page. Once you do this, the other fields will fill in automatically.
Then click Add Custom Token.
Then click Import Tokens.
Now you can click the back button to go to your account overview page and see that you have ACRE listed in the Assets section.
In the next step, we will buy the ACRE token using AVAX, so be sure to send AVAX to your Wallet via the deposit address. You can copy your entire deposit address from the top of the main page in Metamask.
Buying the ACRE Token
Now we’ll buy the ACRE token using AVAX tokens on the Pangolin exchange.
Step 1: You can use this link to access the page with the ACRE and AVAX tokens selected by default.
Step 2: Select the Connect to a Wallet button.
Then select the MetaMask option, and follow each of the instructions to authorize the connection.
Once authorized and connected, you will see your AVAX address in the account section near the top right of the page, as well as AVAX balance in your wallet.
Step 3: Choose the amount of AVAX you want to swap for ACRE, and click the Swap button.
*Note: Be sure to leave a small amount of AVAX in your Wallet for transaction fees.
Then review the trade details and click the Confirm Swap button.
Now that you have ACRE tokens in your MetaMask wallet, it’s time to stake them.
Staking Your ACRE Tokens With Everstake
Step 1: Go to Arable’s website and click on the Launch App button.
Step 2: Click on the Connect Wallet button and follow the instructions to connect the MetaMask wallet that holds your ACRE tokens.
Step 3: Click on Validators in the options menu.
Step 4: Locate Everstake in the list of validators and click on Delegate/Undelegate.
Step 5: Click on Delegate.
Step 6: Enter the amount of ACRE you want to delegate and click on Approve ACRE. You can also use the Max button if you want to delegate all your available ACRE.
Then be sure to confirm the transaction in MetaMask by clicking on the Confirm button.
Now click on Delegate.
Confirm the transaction in your MetaMask Wallet.
You will now see your delegated amount in the My Delegation column.
ACRE Staking FAQ
Question: How often are rewards distributed?
Answer: Rewards are distributed once every epoch, which is 24 hours (approx.)
Question: How can I claim my rewards?
Answer: You can use the Claim button on the Validator page to initiate the process, and then follow the instructions.
Question: Can I move my delegation from another Validator over to Everstake?
Answer: Yes you can. To do this first click on Delegate/Undelegate on the validator you want to move your stake from.
Then click on Redelegate.
Search for the Validator address: 0xc70173901E900a8DF2cD06b883bB66885d6D902E
Then enter the amount you want to move to redelegate and click on the Redelegate button.
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