This article takes staking SAGA as an example. In fact, the staking process of most popular parachain tokens in the ecosystem is similar, including staking "ATOM of Cosmos Hub", "TIA of Celestia", etc.
This article uses the mobile app of the #keplr wallet, but you can also use other wallets. Please withdraw coins to the wallet by yourself.
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There are some risks in staking (the staked coins may be confiscated if the node behaves maliciously), so you have to choose the staked node carefully. I will only tell you how to choose, not give specific suggestions.
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Suggestions on the selection of staking nodes (general to the cosmos ecosystem):
1. Do not select nodes within the top 5 voting rights, and staking nodes of exchanges. (Not decentralized enough, many airdrops will be filtered out)
2. Do not select nodes with a commission rate of 0 (many airdrops will filter out greedy stakers). Do not select nodes with a commission rate that is too high, as the staking rewards will be very little or nothing. It is recommended to select a commission rate between 5 - 15% (inclusive).
3. Try to choose nodes with more self-staking. (The cost of doing evil is higher)
4. Keep the online time as close to 100% as possible; keep the block loss rate as close to 0% as possible. (Increase staking income)
5. Nodes that frequently participate in community proposal voting. (Active nodes contribute to ecological development and network stability)
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Briefly describe the staking process:
Add the corresponding chain configuration. Most popular chain wallets have built-in configuration (such as Cosmos Hub), and some chains can be skipped directly.
Displays the corresponding chain and its token balance.
Pledge.
It takes a long time to redeem after staking on most chains. Depending on the staked node information, there will generally be an "Unbonding Period" (i.e. lock-up period). There will be no rewards during the redemption period, and no airdrops will be given.
After staking, you will receive income every time a block is generated. You can collect the income once in a certain period of time based on the actual situation, and then sell it on Osmosis or continue to stake it, or keep it in your wallet, transfer it to an exchange, etc.
Note: When claiming staking rewards, "Claim All" does not require confirmation and will automatically claim all rewards. If the staking rewards are not much, it is better to claim them one by one manually.
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(You may need a ladder, I can’t open the website for adding chains) Add the corresponding chain configuration. Taking the saga chain as an example, the SAGA chain seems to have been built-in in the latest version of Keplr. You can search for saga first to see if it can be searched out. If it can be searched out, you can skip this step directly.
Click “Add More Chains”
Search for the chain you want to add in the search box, such as saga. If you can't find it, it means it has not been submitted to kelpr or has not been reviewed. Find the one on the main network and click "Add To Keplr". After completing the subsequent operations, return to the wallet start page.
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If the application chain has been added, you can search it directly, click "Manage", then check the chain and click "Save". After completion, you can see the corresponding chain and its token balance on the wallet homepage.
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Go back to the wallet homepage and click "Staked" at the top to enter the staking panel. The middle part is the current staking rewards that can be collected; the lower part is the staked coins. Click it to go directly to the staked node. Click "Stake" to enter the staking interface
The interface only displays coins with available balances. Select the coins you want to stake and click SAGA as an example.
All available staking nodes are displayed. You can choose one based on your research or stake to different nodes multiple times. I randomly selected one.
After entering, you can see "Stake", click on it
Enter the amount of the pledge. Please remember to leave at least 3 times of gas, such as 0.1 tokens, otherwise there will be no gas to collect rewards and other operations. There is also a mode to adjust the gas. You can choose a slow speed. If the pledge operation is not urgent, you can save as much as possible. If the chain transaction is not busy, the speed will not be much different. Finally, click "Next" to complete the pledge. Note: If you check the "Remember my choice", this speed will be selected in the future. If you want to switch, remember to change it yourself.
Finally, return to the "Staked" interface to see the pledged status.
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Recommend two tool websites to view information:
https://wallet.keplr.app/
https://www.mintscan.io/
