How to Stake SLF Tokens
Staking $SLF tokens on the Self Chain network allows you to earn rewards and actively participate in the protocol. In this blog, we'll guide you through the process of staking your $SLF tokens to a validator, ensuring you maximize your earnings and contribute to the network's security and operations.
Prerequisites
Before you can stake your $SLF tokens, make sure you have the following:
- Keplr Wallet: Create a wallet with Keplr, a user-friendly browser extension for managing your crypto assets.
- $SLF Tokens: Fund your Keplr wallet with $SLF tokens.
- Connect your wallet to the staking application at staking.selfchain.xyz.
Reviewing Your Account
Before you start the staking process, ensure everything is in order:
- Verify Your $SLF Balance
- Verify Wallet Address: Confirm that your Keplr wallet is correctly connected to the staking application.
- Verify Staking App URL: Ensure you are on the correct staking application URL to avoid phishing scams.
Scanning Through the Validator List
To choose a validator for delegation, review the validator list and their details:
- APR (Annual Percentage Rate): The real-time APR indicates the potential rewards you can earn.
- Total Staked: The amount of $SLF tokens staked with the validator.
- Commission Rate: The percentage of staking rewards that the validator takes as a fee.
- Status: Indicates whether the validator is bonded (running and earning rewards) or unbonded (not running).
- Voting Power: The validator's voting power based on the total staked tokens compared to others.
Tip: Generally, you should choose a bonded validator with a high amount of staked tokens, a low commission rate, and an attractive APR.
Stepping Through the Delegation Process
Follow these steps to delegate your $SLF tokens:
Select a Validator: Click on the validator you wish to stake your tokens to.
Enter Delegation Amount: Input the amount of $SLF tokens you want to stake and click "Delegate".
Confirm Transaction: Approve the transaction in your Keplr wallet.
Verify Delegation: After the transaction is confirmed, your staked tokens should be reflected in your account with the recent delegation.
Claiming Staking Rewards
Staking rewards are distributed to your staking position with each block. You can claim your $SLF token rewards by using the "Withdraw Rewards" button in the staking application.
Conclusion
By following this guide, you can easily stake your $SLF tokens and start earning rewards on the Self Chain network. Staking helps you earn $SLF while contributing to the network's security and efficiency. Join the Self Chain community today and play an active role in its growth and success.
Happy staking!
About Self Chain
Self Chain is the first Modular Intent-Centric Access Layer1 blockchain and keyless wallet infrastructure service using MPC-TSS/AA for multi-chain Web3 access. The innovative system simplifies the user experience with its intent-focused approach, using LLM to interpret user intent and discover the most efficient paths.
Self Chain ensures that onboarding and recovery are effortless with keyless wallets that grant users complete self-custody over their assets. In addition, it provides automated rewards to dApps when they efficiently resolve user intent, further enhancing the user experience. Moreover, Self Chain incorporates Account Abstraction with MPC-TSS to provide secure signing and reduce transaction fees. It's a platform that redefines blockchain interaction, making it more secure and user-friendly for everyone.
In a world where blockchain technology is becoming increasingly essential, the user experience remains a critical factor in its adoption. Intents and Keyless Wallets are set to transform the landscape, making blockchain interactions more accessible, efficient, and secure. As we move forward, the blockchain industry has the opportunity to provide users with a seamless and enjoyable experience, unlocking the full potential of this groundbreaking technology.