How do I stake VET?
VET is one of the easiest assets to stake in Atomic Wallet. This article covers VET staking and its related asset VTHO.
- VET 101: the things you need to know
- How to stake VET in your Atomic Wallet app
- VTHO rewards
- How to unstake your VET
Getting started with staking
VET staking is pretty straightforward. Simply deposit some VET into your Atomic Wallet and earn interest in VTHO. VTHO is a native token on VeChainThor blockchain, it is used to cover the network fee for VET transfers.
VTHO is generated automatically by holding VET tokens. As simple as it gets: a VET holder is granted VTHO for having some VET on their address. VTHO tokens can also be sent away and traded, just like any other token.
VET 101: things you need to know
- VET requires a transaction fee to be paid in VTHO. The fee is 21 VTHO. Keep this in mind when you decide to deposit VET into Atomic Wallet. You will need to pay the VTHO fee if you ever decide to send your VET out of Atomic Wallet. If your balance is lower than 21 VTHO, the transaction will not go through.
- Your VET will stay on your balance when staked. Unlike most other blockchains, VeChain doesn't freeze your deposit if you stake it. You're still free to send or swap them.
- You’re staking your address. You can’t choose the amount you want to delegate—you’re staking all the VET you currently have. There's no minimum VET balance requirement to receive VTHO.
How to stake VET in your Atomic Wallet app
In order to start staking your VET, simply deposit some VET into your Atomic Wallet. There is no need to choose a validator or perform a special staking transaction, the funds are staked automatically after the deposit.
As stated above, the rewards you get for having VET on your address are paid in VTHO. There is no need to claim your rewards, you will get the automatically. It happens every time a new block is added to the blockchain. It takes about 10 seconds to add one block, but sometimes the time may change, depending on the network condition. You can see the amount you are supposed to get each day in your VET staking interface. You can also check your current VET and VTHO balance here, all in the same place:
Note: if you noticed, that your VTHO amount hasn't changed for weeks, make sure your VTHO address is activated .
How to unstake your VET
Since you don't actually delegate your VET to any delegator and it stays on your address, there is no need to unstake it. You can just send it away anytime you want. If you don't wish to receive VTHO anymore, simply send your VET away from Atomic Wallet. Keep in mind, however, that if you send your VET from Atomic Wallet to another address and then you'll start receiving VTHO on that other address, since the process is automatic.