How to stake BAND?
Welcome BAND main net for staking in Atomic Wallet. Please note, that staking is only available for a BAND main net, not for BAND ERC20. We recommend following official instructions regarding the swap here. Here is the guide on how to stake BAND in Atomic Wallet.
In this article:
- Open the wallet and go to the staking interface.
- Choose BAND Protocol from the asset list.
- Then click on Stake.
- Choose the amount to stake in either BAND or USD. Note your available balance: always leave some BAND to pay the network fees for claiming rewards and unstaking.
- Then choose the Validator to stake. Click on the name of the Validator to change it. Note the calculator of yearly earning.
- When it’s all set, click on stake BAND. Please note: staking is a regular transaction on the blockchain. It requires a network fee to be paid.
- The next step is to enter your password to confirm the transaction. Click Confirm.
Important: Please note, that if you decide to unstake your BAND later, there will be a 21 days of freezing period. This is a BAND blockchain rule.
- Success! Your BAND is staked now. You can click on the transaction to track it on the block explorer.
You need to claim your BAND rewards manually. Usually, the rewards are distributed right after you stake your BAND. There are four important points to consider:
- Claiming rewards is a regular transaction on the blockchain. You need to pay the network fee from the available (not staked) BAND on your address. If you have an amount insufficient to pay the fees, you won’t be able to claim your rewards.
- Min reward to claim is 0.01 BAND. Otherwise, the network fee for claiming is higher than the reward amount.
- You can track your rewards in the wallet itself, or on the block explorer. Here is the link https://cosmoscan.io/. See the screenshots.
- IMPORTANT: If you decide to stake more BAND while already staking, your current rewards will be set to zero! Always claim your rewards before staking more BAND.
How to claim the rewards manually:
- Open staking interface.
- Choose BAND.
- If the rewards are available to claim the button will be highlighted.
Important: After you unstake, your BAND will be frozen for 21 days. This is a BAND blockchain rule, not Atomic Wallet.
To unstake BAND follow these steps:
- Open the wallet and navigate to the staking interface.
- Click on BAND Protocol.
- Then click UNSTAKE.
- Choose the amount to unstake or click Unstake All. Note that you Unstaking is a regular transaction on the blockchain and you have to pay the network fee for it. Then click Unstake.
- Enter your password.
- Success! Your BAND is Undelegated. Click on the transaction to track it on the block explorer.
- After you unstake your BAND you will see the unstaked amount as Unbonding. As soon as 21 will pass, this amount will be credited to your address automatically.
How to calculate when 21 days of undonding period is over?
- Head over to the block explorer and find the transaction that has an Undelegate status.
- Click on it and you will see how much time passed since it occured.
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