Concordium — How to Stake $CCD Tokens with Luganodes

Introduction:

Concordium is a Layer-1 Proof of Stake decentralized, permissionless, science-backed, and sustainable blockchain with an ID layer to ease regulatory compliance.

The fast and effective finality of transactions and low transaction fees, combined with the stability of CCD’s value in terms of EURO, makes Concordium an attractive option for various use cases.

In this guide, we’ll show you how to delegate your CCD tokens with Luganodes and start earning ~14% in a few simple steps.

Validator Details:

Validator Name: Luganodes

Validator/ Baker ID: 87236

Blockchain Explorer Link for the Validator: https://ccdscan.io/nodes?dcount=1&dentity=node&did=Tm9kZVN0YXR1cwpkNDBmNDZkMzg2OTkyNjgyZg%253D%253D

Unbonding Period:

• Unbonding period is a timeframe in which the funds are locked when you unstake
• The unbonding period on Concordium is 14 days

Step-by-Step Guide:

*We’ll be staking CCD tokens using the Concordium IOS Mobile app

Step 1 — Set up your Concordium Wallet on your IOS app

• Download the Concordium Wallet App from the app store
• You can either create a new account or import the existing one

Step 2 — Stake with luganodes

• Once you’ve successfully verified your account and added CCD tokens to it, start the delegation process.

• Select Delegation

• Enter the Baker Pool ID (For Luganodes — 87236)

• Once you’ve entered the Baker ID, continue (Please enter the baker ID carefully, you can cross-verify this ID from — https://ccdscan.io/nodes?dcount=1&dentity=node&did=Tm9kZVN0YXR1cwpkNDBmNDZkMzg2OTkyNjgyZg%253D%253D)

• Enter the amount of CCD tokens you want to delegate (Stake) and continue

Step 3 — Confirm the transaction and check your staked amount

• After entering the amount of CCD to be staked, Submit the delegation transaction

• Tap on Finish

• Please note that once your transaction has been successfully finalized, the delegation will take effect from the next pay day.

• You can check your staked and available CCD tokens from from the accounts section.

Step-by-Step Unstaking Guide:

Step 1 — Head over to Concordium wallet and log in with the same credentials you used in the staking process above

• Go to your account and tap on the top-right hamburger icon to see more options

• Select Delegation

Step 2 — Initiate the Unstaking process

• Under the Delegation status, tap on Stop Delegation to initiate the process to unstake your CCD

• Read the Instructions properly about the cool-down period (Unbonding period, that is 14 days for CCD)

Step 3 — Submit the transaction and withdraw after the unbonding period (14 days)