Here’s our comprehensive guide to stake KAVA tokens and earn block rewards using Keplr, Cosmostation and Trust wallets.
Our node’s page on Kavascan can be found here.
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What is staking?
According to the FAQ at Coinbase, “Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn staking rewards.”
In essence, you assign the voting power of your tokens to a validator node and in return earn more tokens.
The current yield you can expect by staking your KAVA tokens with us at Blocks United is just over 33%. That number is of course, subject to change. As more people stake, the yield falls because the rewards pie is being divided up between more people.
Click here to check out the KAVA staking calculator
What is a validator node?
Validators are node operators who each store a copy of the blockchain. They keep the network secure by verifying movement on the chain from one address to another. They also vote and help govern proposed changes to the blockchain network.
Validator nodes are responsible for processing transactions and authoring new blocks. The node is simply a computer that’s running the blockchain’s software. Our nodes are hosted in a data center and run 24/7.
What is a delegator?
People like you, who stake their tokens with a validator node are called, delegators. You “delegate” your tokens to a validator.
The validator node never takes custody of your tokens. Their voting power is moved to the staking module on the blockchain. It’s just a ledger entry that delegates their voting power to a node. This helps secure the blockchain and entitles you to staking rewards.
If you decide to stop staking and unbond your tokens, they’ll be made available after 21 days.
What is slashing when staking tokens?
Delegating tokens does have some risk. If the validator you select misbehaves and gets slashed, you lose some tokens.
Slashing is a mechanism built into Proof of Stake blockchains to discourage validators from doing the wrong thing. It occurs when a node has too much downtime, or double signs blocks.
KAVA staking is available in several wallets and we’ll highlight Keplr, Cosmostation and Trust wallet. Here is a step-by-step guide to stake KAVA tokens and earn block rewards.
How to stake KAVA tokens in Keplr Wallet
1. Select the KAVA network from the drop down at the top of the wallet
2. Click the “stake” button and the main wallet dashboard will open up in a new tab or window
3. Scroll down to find Blocks United in the list of active validators and click “manage” A window will pop up that displays your available KAVA tokens.
4. Click “delegate”
5. Enter the amount you’d like to delegate to our node. (IMPORTANT) Be sure to leave at least .01 KAVA in your wallet to pay for future transactions, like claiming rewards.
6. Click “delegate” A new window will pop up that allows you to choose the transaction fee. NEVER choose the cheapest fee because transactions can fail and you’ll still be charged. The middle fee should be adequate.
That’s it. Your KAVA tokens are now staked with Blocks United!
How to stake KAVA tokens in Cosmostation Wallet
1. Download the Cosmostation app onto your mobile device, or connect -your Ledger Nano S or X while using a PC
2. If using a connected hardware wallet, open the Cosmos app on your physical Ledger device
3. Click “Reward” on the left side of the wallet
4. Scroll down the list of active validators to find Blocks United and then click “Delegate”
5. Enter the amount you’d like to delegate. (IMPORTANT) Be sure to leave at least .01 KAVA in your wallet to pay for future transactions, like claiming rewards.
6. Click “Generate & Sign Transaction”
That’s it! Your KAVA tokens are now staked with our node and you’re earning block rewards. You’ll then see your staked tokens at the top of the page under the heading “My Validators.”
How to stake KAVA tokens in Trust Wallet
1. Click on your KAVA token position in the wallet
2. Click the “More” blue circle with the 3 dots
3. Click “stake”
4. One validator automatically populates the “validator” field. Click the arrow to the right of the listed validator to find the drop down list. Scroll down to find Blocks United and click on Blocks United
5. Enter the amount you’d like to stake and click “continue”
That’s it! Your tokens are now staked with our node.
Pro Tip: Did you know that you can move your staked tokens without unbonding and waiting 21 days? It’s simple! Inside Keplr and Cosmostation there is a drop down box with “undelegate” as the first option. Click the drop down and the second option listed is “redelegate.” Click “redelegate” and you’ll then be prompted to enter the number of tokens you’d like to move to our node. The “redelegate” option is even simpler inside Trust Wallet.
Hopefully this tutorial showed you how to stake KAVA tokens using Keplr wallet, Cosmostation wallet and Trust wallet. If you have any questions or comments, please leave them below or fill out the contact form on our homepage.