Crypto:
30604
Bitcoin:
$62.733
% 5.23
BTC Dominance:
%53.6
% 0.35
Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
Bitcoin:
$ 62.733
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

How to Stake AVAIL: Contribute to Avail’s Growth and Earn Rewards

Avail 1

Staking AVAIL allows you to participate in securing the Avail network and earn rewards for your contribution. This guide will walk you through the process of staking AVAIL, from understanding the basics to actively managing your stake.

What is Avail?

Avail is a project enabling effortless scaling for any blockchain through its verifiable data availability layer, Avail DA. By integrating with Avail DA, blockchains can ensure the constant availability of their transaction data, a crucial factor for achieving limitless scalability.

Why Stake AVAIL?

Staking AVAIL offers several benefits:

Earn Rewards: Staking participants receive a portion of the rewards generated through inflation and transaction fees on the Avail network.

Contribute to Security: Staked AVAIL tokens contribute to the security of the network. The more tokens staked, the harder it becomes for malicious actors to disrupt the network.

Support Avail’s Growth: By staking AVAIL, you contribute to the overall growth and success of the Avail ecosystem.

Understanding Staking on Avail

Avail utilizes a Nominated Proof of Stake (NPoS) consensus mechanism. Here’s a breakdown:

Validators: These are responsible for validating transactions, producing blocks, and maintaining network integrity.

Nominators: Token holders who choose validators to secure the network on their behalf.

Staking Options: Nomination Pools vs. Nominating Validators

Avail offers two staking options:

Nominating Validators Directly: This method allows you to select and prioritize specific validators you want to support. It offers greater control but requires more research and active involvement.

READ:  Coinbase CFO Believes Ethereum (ETH) Likely Won't Be Classified as a Security

Nomination Pools: A pool operator manages validator selection and reward distribution for pool members. This is a simpler approach but offers less control.

How to Stake AVAIL: A Step-by-Step Guide

Access the Avail Staking Dashboard: Visit staking.avail.tools/ through your web browser.

Choose Your Staking Method: Decide between nominating validators directly or joining a nomination pool.

Connect Your Wallet: Select the wallet containing your AVAIL tokens and connect it to the Avail Staking Dashboard.

Enter Staking Amount: Input the amount of AVAIL you wish to stake, keeping enough unstaked for transaction fees.

Choose Reward Settings: Decide how you want to manage your rewards (Allow Withdraw, Allow Compound, Permissioned).

Review and Confirm: Carefully review your selections and confirm the transaction to bond your stake.

Wait for the Next Era: Your stake will become active within 1-2 eras.

Monitor and Manage: Regularly check your staked tokens and earned rewards. Claim rewards periodically and adjust your nominations if needed.

Unstaking AVAIL

The unbonding process takes 28 days and temporarily restricts the use or transfer of your staked AVAIL tokens.

Conclusion

Staking AVAIL presents an opportunity to earn rewards while contributing to a future-proof blockchain technology. By participating in Avail’s growth, you’re helping shape the future of web3 scalability and data availability.

Rate this post

Leave a Reply

Your email address will not be published. Required fields are marked *