How to Stake INJ tokens?
INJ tokens staking is quite straight-forward and simple using Keplr. Let’s look at how to stake INJ tokens with Everstake step by step both via Keplr web browser extension.
Let’s start with step-by-step staking guide with Keplr wallet
- Go to Keplr Website & Install Keplr Browser Extension.
In order to stake INJ tokens, you need to go to https://keplr.app/ and download the Keplr chrome extension by clicking the download button on the website.
2. Select the way you want to create your wallet. For this guide, we will create a wallet using a new recovery phrase
3. After clicking on the button, you need to set up a password and save the mnemonic seed. Then click next
(Back up your 12- or 24-word recovery phrase for accessing the wallet. It’s crucial to save the mnemonic in a secure way, as this is the only way to access and restore your wallet).
4. Verify your recovery phrase, give your wallet a name, create a strong password
5. Your wallet has been successfully created, you can select Injective and click save
6. Click the ‘Staked’ button and then ‘Stake with Keplr Dashboard’ to go to the Keplr dashboard.
7. If you haven’t stake it before, you can simply search for Everstake by typing “Everstake” in the search box and clicking on “Everstake” to select it
8. After selecting Everstake as your validator, click on the “Delegate” button on the appearing page.
9. You need to enter the amount of INJ tokens you want to stake on the next page. After entering the amount, click on the (Stake) button (Please note that staking will lock your funds for 21 days):
Congratulations
you staked your INJ tokens using Keplr web wallet successfully
Staking
- Staking is the process of locking up your assets (in this case INJ) in order to validate transactions on the blockchain. Users who stake their assets are usually eligible for staking rewards. Injective follows a proof-of-stake mechanism, in which users can stake their INJ tokens with certain Injective nodes that validate transactions (validators). In return, the user can obtain staking rewards in INJ.
Stake INJ
- Stake your INJ to a validator to start earning rewards.
Withdraw staking rewards
- Rewards start accruing the moment you stake INJ. Monitor your rewards in the staking section of Injective Hub. Once you have earned a sufficient amount of rewards, you may withdraw them at any time.
Redelegate
- Redelegating lets you instantly transfer staked INJ from one validator to another without undergoing the 21-day unstaking period.
Undelegate
- Undelegating INJ is the process of unstaking your assets from a validator, which takes 21 days to complete.
About Everstake
Everstake is a responsible validator trusted by 735K+ users across 70+ blockchain networks. Created by engineers for the entire community in 2018
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.