Staking on Cosmos
Welcome to our step by step guide to start staking on Cosmos! This guide will take you through how to stake on Cosmos using Lunie (https://app.lunie.io/). Lunie is a staking and governance platform, and Ledger is a hardware wallet to secure your crypto assets.
There are other methods you can use to stake on Cosmos, but we’ve found using Lunie.io with the Nano Ledger and Cosmos App on the Ledger hardware wallet is the most straightforward, secure process, though any ledger hardware wallet with the Cosmos app will work
You can Bond tokens in under a minute to a transcoder, but it takes 21 DAYS to unbond. Choose the Validator(s) you delegate to wisely. There is nothing Cosmos or Blockdaemon can do to speed up the process of unbonding.
You are always in control of your tokens - they never leave your account. Blockdaemon has no access or control of your tokens when you choose to stake on our validator.
Blockdaemon reserves the right to update fees and rewards %s at any time. You can see current updates on sites like Lunie or Mintscan.
To start, go to https://app.lunie.io/ and Sign in.
You can select to use an existing address, which you will have if:
- You created a wallet for yourself on a node.
- You have created a wallet on the Cosmos ledger app..
- You already installed the Lunie extension and setup an account before coming to the guide.
If you do not already have an address, you can create one with the Lunie browser extension.(https://chrome.google.com/webstore/detail/lunie-browser-extension/hbaijkfbhhdhhjdfbpdafkjimohblhgf).
Once you have an account/address, select the appropriate option. The following guide will show how to stake using a wallet through the Lunie browser extension.
Ledger Nano instructions are very similar. When you need to approve a transaction, you will sign it on the Ledger.
Connect your account to the page by selecting “Use Account”. This will bring you to the Portfolio page.
Alternatively, you can open the browser extension in your extensions menu, select the account, and select Go to Lunie. This will open the same Lunie Portfolio page as in the above step.
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On the Portfolio page, you can view your available ATOMs, the amount of rewards you have earned, and what validators you are staked to. As shown in the screenshot below, there is 1 ATOM in the connected account, 1 ATOM available to stake, and the rewards to collect.
On the Validators page, I can view the active validators, sort based on voting power or reward percentage, and search for specific validators.
To Stake to Blockdaemon’s validator, select this link: https://app.lunie.io/validators/cosmosvaloper10nzaaeh2kq28t3nqsh5m8kmyv90vx7ym5mpakx
Or search for “Blockdaemon”...
This will bring you to Blockdaemon’s details page. Select “Stake”.
This opens the Delegate flow in the bottom right. First step is to select how much you are choosing to delegate (stake).
Note: Do not change the “To” address - you are not sending any ATOMs, you are only sending to the contract.
You can select the max, or enter any value you wish. It will show you the amount you have available to delegate.
Enter the amount, then select Next.
The second step is reviewing any fees required to delegate. Review carefully, then select “Next” when ready to proceed.
Select “Send” once you are ready to delegate.
In the Lunie browser extension, enter your password, then “Approve”.
Once you select “Approve” you will not be able to cancel the transaction.
Once the transaction has been processed, you will see an approved message in the extension. You can navigate back to the webpage.
On the webpage, after a few seconds, you will see you have successfully delegated, and the block number.
You can select the block number to see a summary of what was processed on that block, including your delegation.
Click on the Portfolio tab in the left sidebar to see an updated summary of your account. You may need to wait a few seconds or refresh to show the updates.
Resources
- Cosmos staking rewards calendar
- Cosmos Staking FAQ.
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