Step-by-Step Tutorial: How to Stake EVMOS
In this comprehensive tutorial, you will learn the step-by-step process of staking EVMOS
Stake in Evmos to validate transactions, decentralize the network, and earn rewards. This tutorial guides you through the process of staking Evmos, unlocking its benefits. As an early Ethereum Virtual Machine-based blockchain in Cosmos, Evmos enables developers to deploy smart contract apps across EVM and Cosmos-based chains. Join us on this staking journey for a secure and decentralized Evmos network. Let’s get started!
Step-by-step process of staking EVMOS using Keplr Wallet.
- Create a Keplr Wallet:
To begin, create a Keplr wallet by following the instructions in this guide:
Once you have created your wallet, add the Keplr extension to your browser.
2. Log in to Your Account:
Open your Keplr wallet extension and log in to your account. Connect your wallet. Visit https://wallet.keplr.app/#/secret/stake to access the full dashboard.
3. Stake Your EVMOs:
If you don’t have any EVMOs in your account, you need to fund it with some tokens. You can transfer EVMOs tokens from an exchange to your wallet address or receive them from someone who already holds them. In the top Menu select “Staking” or in the left Menu go to “Chain”.
4. Choose a Validator to Delegate EVMOs:
To stake your EVMOs tokens, you will see a list of Chains available for staking and an explorer, type “Evmos”. When you locate “Evmos,” then click on the button.
On the bottom in the Dashboard, you will see a list of validators available for staking and an explorer, type “DragonStake”. When you locate “DragonStake,” then click on the button.
A new window of DragonStake validator will appear. Click once on “Delegate” to proceed.
Enter the amount of tokens you want to stake. Click “Delegate” again to proceed. You will be redirected to the Keplr wallet for approval. Confirm the transaction to delegate your EVMOs tokens to DragonStake. After the transaction is confirmed, you will be able to see your stake.
5. Monitor and Manage Your Staking:
Once you have completed the delegation process, your staking will start generating rewards, which will accumulate automatically. You can monitor your rewards and manage your staking at the top of the Keplr Wallet webpage as long as your wallet is connected.
6. Claiming Rewards:
Over time, you will see your rewards accumulating in your account. To claim your rewards, open the Keplr extension and click on “Claim.” You will need to approve the transaction to transfer the rewards from the platform to your wallet. After claiming the tokens, you can choose to delegate them again to continue earning more rewards.
From the same section, you can also decide whether to delegate your tokens to another validator, which does not require an unbonding period, or to withdraw your tokens from staking, initiating a 14-day waiting period.
What You Need to Know Before Staking EVMOs:
While your tokens are staked, they remain in your custody but are locked.
Staking does not automatically compound your rewards. To maximize your profits, you can claim the rewards and re-delegate them manually.
There is a 21-day unbonding process for staked EVMOs tokens, during which they do not earn rewards and cannot be transferred, exchanged, or spent. However, they can still be subject to slashing during the unbonding period.
There is no minimum requirement for staking on EVMOs.
By following this tutorial, you can confidently stake your EVMOs tokens in Cosmos using the Keplr wallet and actively contribute to the network while earning rewards.
