How do I stake FLR?

Note: in Atomic Wallet we use terms 'staking' and 'delegating' interchangeably. Information in this article pertains to the Flare delegation process introduced in 2022. Flare staking, introduced in 2023 is not yet supported in Atomic Wallet. 

Stake your FLR with Atomic Wallet to receive rewards! In this article, we'll guide you through everything you need to know to stake your FLR and earn rewards. 

Contents

Getting started with staking

Staking is a straightforward process where instead of just holding onto your FLR, you allow them to work for you and generate rewards. Where does the interest come from, though? 

Staking FLR means delegating your FLR to validators of your choice to provide security and stability to the network. Validators are responsible for transaction verification and adding new blocks to the blockchain. In exchange for doing all of that, validators earn rewards. These rewards are then distributed among all the people who chose to delegate their funds to a specific validator. That's how you get the rewards. 

FLR 101: the things you need to know

First reward In 3 days
Regular rewards Twice a week
Yearly yield 4.2%
  • You’ll have to pay a network fee for every staking-related transaction. The fees are charged by the Flare blockchain directly, and we don't have any additional ones. The fees are paid in FLR. If you're interested in learning more about how network fees work, see Does Atomic Wallet charge any additional transaction fees?
  • A small amount of FLR (three times the amount of the network fee) will be reserved on your address for future fees for claiming/unstaking transactions when you stake. That means that these funds are still on your address and are available to send away or swap, but are not available for staking. It is done in order to avoid a situation in which you accidentally stake all of your funds and are unable to unstake your coins or claim your rewards.
  • When staking FLR, you get the equivalent amount of WFLR. Staking FLR works slightly differently from most other assets and is closer to the way Ethereum staking works. Instead of locking your deposit and getting rewards for it, your stake in FLR turns into WFLR. These WFLR are then delegated to a validator.
  • Your funds are not locked during staking. When you get your WFLR you can send it away or swap it any time you want. 
  • The rewards need to be claimed manually. You need to claim your rewards manually at least once every 90 days. Once claimed, they are added to your staked amount automatically. New rewards are paid out twice a week (every Monday at 7:00 UTC and Thursday at 19:00 UTC). 
  • You stake all of your WFLR. Additional WFLR deposits are staked automatically. If you already have some WFLR delegated to a validator and then deposit additional WFLR to your Atomic Wallet, they will be automatically delegated to the same validator. Also, if you withdrew your staked WFLR and then deposited them back into your wallet, they will be staked to the same validator once again. 
  • Voting. FLR staking requires two transactions. One converts FLR into WFLR and the other delegates them to a certain validator. Both transactions are done automatically when you stake your coins. However, sometimes the second transaction does not go through and you are left with undelegated votes. Undelegated votes do not generate rewards, so you will need to vote manually. More about it here.  
  • There is a minimum reward claim amount, it's three times the amount of the FLR network fee. That means that you won't be able to claim your rewards until this minimum amount of rewards has been generated. For example, if the current network fee is 0.0001 FLR, you'll need to wait until you have at least 0.0003 FLR. 

How to stake FLR in your Atomic Wallet app

  1. Click Staking on the left sidebar;
  2. Select FLR;
  3. Click  Stake FLR; 
  4. Select the amount to stake. Keep in mind, that you'll be charged a network fee by the Flare blockchain for both staking and unstaking your deposit. The staking fee will automatically be deducted from the amount you're staking;

  5. Enter your password and click Confirm; 

  6. Voilà, your FLR deposit is now staked! Relax and wait for your first rewards to arrive. See the Rewards section down below for more details.

  1. Select the Staking tab in the bottom panel;
  2. Tap FLR;

  3. Tap Stake;

  4. Select the amount to stake. Keep in mind, that you'll be charged a network fee by the Flare blockchain for both staking and unstaking your deposit. The staking fee will automatically be deducted from the amount you're staking;

  5. Enter your password and tap Confirm;

  6. Voilà, your FLR deposit is now staked! Relax and wait for your first rewards to arrive. See the Rewards section down below for more details.

FLR staking rewards

Note: the minimum reward claim amount is three times the amount of a network fee.  

You'll be receiving your staking rewards twice a week - every Monday at 7:00 UTC and Thursday at 19:00 UTC. 

You need to claim your rewards at least once every 90 days. Otherwise, you'll miss out! All rewards that were left unclaimed for more than 90 days expire. 

How to unstake your FLR

Go back into the FLR staking interface and click 'Unstake' to convert your WFLR back to FLR. Once your WFLR has been converted back to FLR, staking is over and rewards are no longer generated. You can now manage your FLR just as you did before staking your funds.  

Voting

As we mentioned at the beginning, FLR staking requires two transactions. One turns your FLR into WFLR and the other delegates these votes to a certain validator. Both transactions are done automatically when you stake your coins. However, sometimes the second transaction does not go through and you are left with undelegated WLFR. Undelegated WFLR do not generate rewards, so you will need to vote manually. How do you know if the second transaction went through? Simply check your FLR staking tab. If you do not see a 'Available votes' button, congratulations, the transaction went through! This is what it looks like when the second transaction went through and your FLR is successfully staked:

If you do, however, see the 'Available votes' button, simply press it and the votes will be delegated. Your FLR will be staked successfully. This is what it looks like when you need to perform the voting transaction manually:

Did this answer your question? Thanks for the feedback There was a problem submitting your feedback. Please try again later.

Related Articles