How To Stake $BLD — A Quick Guide — Simply Staking
Agoric is a Tendermint-based blockchain built on the Cosmos SDK, upon which DeFi dApps can be built and deployed using secure JavaScript smart contracts. Agoric provides developers with a reusable and robust library consisting of DeFi components to make the development and deployment quicker and easier.
$BLD is the primary token that secures the chain. This guide will go through the step-by-step process of staking your $BLD to a validator using the Keplr staking interface.
Staking
The Agoric network currently consists of 100 elected validators. The Simply Staking validator, which is our highly secure and reliable validator forms part of the validator list, therefore this guide will go through the process of staking to the Simply Staking node. The steps apply to any other validator.
Let’s stake!
Step 1)
If you already have Keplr installed then you may skip this step.
First, we will install a wallet in order to manage our tokens. Keplr is a Google Chrome extension. You may access the Google Chrome store and we recommend google searching the Keplr extension to confirm that it is the original one.
If you would like to view a more detailed guide on setting up a Keplr wallet you may find a previously posted guide here.
Once you have created your Keplr wallet, transfer over your $BLD to your Agoric address and you are all set to go.
Step 2)
On opening the wallet you will see Cosmos Hub listed on top, click on the arrow and scroll down until you find Agoric as shown below:
Step 3)
The address, shown above, is your Agoric wallet address. If the $BLD is currently not on your address then you can transfer the tokens from another address by simply withdrawing using this address. Clicking on the wallet address will have it automatically copied.
Step 4)
Once you have confirmed that the $BLD is in your Keplr wallet, click on Stake or proceed to your dashboard by clicking here.
On clicking Stake a list of validators will show up.
Step 5)
Find ‘Simply Staking’ and then click Manage.
Step 6)
Click Delegate.
Step 7)
Select amount of $BLD to delegate (note the 21-day unbonding period)
It is a must to not delegate the entire amount and leave a residual amount to use to cover gas fees.
Click Delegate.
Step 8)
A Keplr pop-up window will appear to set and pay the gas fee.
Step 9)
Click on the fee rate of your choice and verify that the details of the transaction are correct.
Click Approve, and once the transaction is processed a Keplr pop-up is displayed.
Concluding remarks
That’s it! you have staked your $BLD. You may view information on your staked tokens from the Agoric Stake page(validator list page) or by accessing this link:
wallet.keplr.app/#/agoric/stake
You are able to view the number of tokens staked, pending rewards, and an option to claim your reward.
You may also want to check bigdipper explorer to check out transactions, addresses, and several stats pertaining to the Agoric network
bigdipper.live/agoric
Happy Staking!
Stay tuned to Simply Staking for more Agoric-related guides and documentation:
- Website: https://simply-vc.com.mt
- Twitter: https://twitter.com/SimplyStaking
- Discord: https://discord.gg/Kpzc58Gu9a
- Telegram: https://t.me/SimplyVC
