Stargaze is a community-driven, decentralized Layer-1 protocol for NFTs built on Cosmos. It offers a zero gas fee NFT Launchpad where creators can sell their collections to the community and an NFT Marketplace launching on June 6, 2022 for trading and staking NFTs. Thanks to Cosmos IBC and Gravity Bridge, Stargaze can seamlessly interact with other Cosmos ecosystem blockchains as well as Ethereum and its Layer-2s.
The token that powers the network is STARS and it is used for network fees, minting NFTs, governance voting, and staking to secure the network. This tutorial will show you how to stake your STARS tokens on the Stargaze staking dashboard.
- View the current STARS staking APR here
- Use the STARS Staking Calculator to estimate your rewards
- Lockup: 14 days
- Average commission: 5%
- Minimum amount required for staking: 1 STARS
- Estimated time needed to stake your STARS in your wallet: 1 minute
- Recommended STARS staking wallet: Keplr browser extension
- How to stake:
- Go to Stargaze staking dashboard and connect your wallet
- Select valdiators
- Enter the amount of stake
- Confirm and happy staking 🤘
How to stake Stargaze (STARS)
Step 1: Make sure you have a Keplr wallet
Keplr wallet is a popular self-custody wallet for storing Cosmos-enabled tokens and offers users the ability to stake their tokens, use blockchain apps and manage multiple tokens in one wallet. You can download the Keplr wallet here. You can learn how to get STARS tokens in your Keplr wallet by checking here.
Step 2: Navigate to the Stargaze Staking Dashboard
Go to the Stargaze staking dashboard, click on “Connect Wallet” at the top right.
Step 3: Click the ‘Stake’ button
After you’ve connected to your wallet, click on “Stake” button on the top left.
Step 4: Select a validator
You will now be shown an interface for you to input some further information. Select a validator from the dropdown menu. The system will let you know if the validator is active for you to select. We recommend choosing validators that are verified via the Verified Provider Program (VPP). You will find the verified validators with a blue tick next to it on the Stargaze asset page.
If you are still unsure of how to choose a validator, check our FAQ at the bottom of the Stargaze asset page on how to choose a validator.
Step 5: Enter the amount of tokens and stake
You can now input the amount of tokens you would like to stake. Then click on “Stake” again and approve the transaction in your Keplr Wallet.
How do I choose a Stargaze validator?
Please refer to the FAQ section titled ‘How do I choose Stargaze validators’ on the Stargaze asset page when selecting Stargaze validators. Also, you may want to utilize our criteria for verifying providers through the Staking Rewards Verified Provider Program (VPP).
Staking is essential to Proof-of-Stake blockchains and comes with many benefits for investors and the network:
- Investors earn yield from token emissions and/or transaction fees.
- Stakers become eligible for airdrops as many networks prioritize granting these benefits to them.
- Staking helps to decentralize the network.
- A higher staked balance enhances network security.
- Stakers can participate in governance, as many PoS networks allocate governance rights based on the amount of tokens staked.
Congratulations! You are now not only getting the most out of your investment with compounded returns. YOU are also (in-)directly contributing to the decentralization, and the network security of Stargaze and thus contributing to the long-term success of your investment! Stargaze needs active stakers like you to become successful long-term.
Now share the tutorial with your friends so they can get to start staking as well!
Lastly, don’t forget to check out the Stargaze (STARS) asset page for more insights into staking STARS, and drop us a message if you found this tutorial useful. Happy staking!