How to stake STRD
By staking the STRD token, users can participate in governance and collect staking rewards derived from protocol fees. Learn how to do it here.
WHY STAKE?
The benefits of staking your STRD
VALUE ACCRUAL
Staked STRD receives 85% of protocol fees, which is distributed as a basket of different Cosmos tokens. So stakers receive stTIA, stDYDX, stATOM, etc as a staking reward. While the majority of the staking reward is from protocol fees, a supplement of newly-emitted STRD is added.
GOVERNANCE
Staked STRD can vote in onchain governance proposals. Stakers can vote on: which host-chain validators to delegate tokens to, how to spend community pool funds, protocol upgrades, and other important issues.
SECURING THE NETWORK
By staking their STRD, users are effectively securing the integrity of the network. For that, they earn some additional APR through inflation.
WALLETS
Store your STRD in one of these wallets to be able to stake it.
STEP BY STEP
How to stake your STRD
Step 1: Wallet
To stake your STRD, you will need to hold it inside a non-custodial wallet. There are a bunch of options available, as listed above.
Step 2: Stake your STRD
Depending on which wallet you use, the location of this feature might be different, but the process is always roughly the same. You will need to choose a validator/governor and the amount that you want to stake. Once you confirm, you will be prompted to sign the transaction.
Once you sign the transaction, your tokens will have an unbonding period of 14 days, should you decide to unstake them. Before that period ends, you cannot move your tokens anywhere.
Find more detailed instructions on how to stake your tokens for Keplr, Leap, and Cosmostation Wallet under these links.
Step 3: Claim your rewards
Once some time has passed (you can do this at any point), you can claim your rewards. When you navigate to the STRD token in your wallet, this feature should be easy to find. You will be prompted to sign a transaction.
This will claim 1) your outstanding STRD rewards, and 2) your share of the protocol fees, paid out in stTIA, stDYM, stATOM, etc., which will appear in your wallet after the transaction succeeds.
As some of these balances might be quite small, you can use our dust sweeper to convert them back into STRD.
Step 4: Participate in governance
Staking STRD makes you eligible to vote in governance proposals. These can be anything from parameter changes to protocol upgrades and partnerships. Of course you don't need to vote in any of these. If you don't, your validator/governor will cast your vote instead.
You will find this feature in most wallets if you navigate to the STRD token, and then click on governance. You can find more detailed instructions on how to do this with Keplr and Leap under these links.
Casting a vote will also require you to sign a transaction.