Guide about liquid steaking on Stride
Staking appears to be a profitable alternative to simply holding cryptocurrencies in your wallet, being analogous to a bank deposit in the crypto industry.
Today we will tell you about staking from Stride. Stride is a blockchain (“zone”) that provides liquidity for staking assets. Using Stride, you can generate income from both staking and DeFi in the Cosmos IBC ecosystem.
If you are new to Stride, you can use this step-by-step instructional guide to help you navigate the liquid staking process.
With Stride, for the first time ever, you can stake your tokens (ATOM, JUNO, or STARS) in exchange for stTOKENs which you can deploy around the Cosmos ecosystem. If you’re going to provide liquidity to a pool, you can liquid stake half of your balance.
In order to liquid stake your tokens, visit stride.zone and select “Start liquid staking” or use the Stride App link https://app.stride.zone .
Then, follow the steps below:
- Step 1: Connect your Keplr wallet. Currently, we support Keplr.
If you don’t have one yet, create an account and never share your mnemonic phrases to anyone.
Be sure that you have some token balance that you wish to stake (Atom, Stars, Juno). Note that the minimum balance must not be lower than 0.1 in value.
- Add funds to your Keplr wallet address
- Select Deposit in the Keplr wallet browser extension.
- Copy the wallet address that appears.
- Send your Cosmos ATOMs to the Keplr wallet address you just copied by navigating to the exchange or wallet where they are kept. Your Keplr wallet should now show your assets.
To connect your wallet on Stride, select “Connect Wallet” in the top right corner. You might need to enter your Keplr password in a pop-up window. Once connected, you can see your wallet address in the top right corner of the screen with the Mainnet on green and your balance of assets listed.
Currently, you can see that ATOM is the token that would be staked. If you click the arrow to the right of ATOM, you will see other currently supported tokens that you could stake.
- Step 2: Determine the amount of tokens to stake.
Click on “Stake,” then input the amount of tokens you would like to stake. You will see the amount you have available in your wallet. Instead of manually entering the amount, you also have the option to select “Add half” or “Add max.” You will also see how much stTOKEN you will get in exchange for staking. Then, click on “Liquid stake.”
- Step 3: Follow the instructions in the pop-up window to transfer your TOKEN to the app and approve the staking process.
You will see that you need to:
1) Approve transfer in wallet, which you can do when you select the pink button that reads “Start staking.”
2) You will see another pop-up window from the Cosmos Hub prompting you to approve the IBC transfer.
3) Select the fee you wish to incur (Low, Average, or High), then select “Approve.”
After your token has been successfully transferred, you need to approve staking in your wallet. You will see a different Cosmos Hub pop-up window. Select the fee you wish to incur (Low, Average, or High), then select “Approve.” Once this is successful, you should see all four instructions with blue checks, and a button that reads “Back to Stride.”
That’s all!
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#Atom #Staking #strade
