How do I stake FET?

You can stake FET in Atomic Wallet and earn rewards! Keep reading to find out more about the FET staking process in Atomic Wallet. 

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Getting started with staking

Staking FET means earning more FET by staking it instead of just holding it. How exactly do your funds generate passive income, though? 

Your funds are delegated to a validator that validates transactions, keeping the blockchain running. The network then pays them back for their work. The validators then share these rewards among the users who delegated their funds with them. That's where you come in, you receive rewards from the validator that you staked your funds with. By staking your FET in Atomic Wallet, you choose us as your validator. 

FET 101: things you need to know

First reward In seconds
Regular rewards Every 6-7 seconds
Yearly yield 8%
  • Staking is only available for the mainnet FET coin. You can hold both the ERC-20 FET token and the mainnet coin in Atomic Wallet, but only the latter can be staked. 
  • Every staking transaction requires a network fee to be paid. Staking transactions include staking, unstaking, and claiming rewards. Keep this in mind when you decide to deposit FET into Atomic Wallet. The fees are charged by the Terra blockchain directly, and we don't have any additional ones. 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 FET (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.
  • Your deposit will be locked. Your FET deposit will be frozen throughout the staking period. This means your staked FET won’t be counted toward your available balance. Also, you won’t be able to transfer or swap them. 
  • Unstaking does not happen immediately. Unstaking takes 21 days to complete. Once you hit the Unstake button, your deposit will be frozen for the unstaking period.
  • First rewards in seconds. Your stake starts accumulating rewards the moment you've staked your funds and it only takes 6.7 seconds to get your first batch of rewards. Don't forget to claim them, however. 
  • There is a minimum reward claim amount, it's three times the amount of the FET 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 FET, you'll need to wait until you have at least 0.0003 FET. 

How to stake FET in your Atomic Wallet app

  1. Click Staking on the left sidebar and select FET; 
  2. Click  Stake;
  3. Decide on the amount to stake.

    Tip: We strongly recommend not to stake all your FET, as you won't be able to unstake your deposit later on otherwise.

    You'll be charged a network fee by the Fetch network for both staking and unstaking your deposit. The staking fee will automatically be deducted from the amount you're staking. We'd suggest you leave the same amount on your balance so that you can pay the fee once you decide to unstake your FET. 

  4. Enter your password and click Confirm;
  5. That's it, your FET 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 and tap FET;

  2. Tap Stake;

  3. Decide on the amount to stake;

    Tip: We strongly recommend not to stake all your FET, as you won't be able to unstake your deposit later on otherwise.

    You'll be charged a network fee by the Fetch network for both staking and unstaking your deposit. The staking fee will automatically be deducted from the amount you're staking. We recommend you leave the same amount on your balance so that you can pay the fee once you decide to unstake your FET. 

  4. Enter your password and tap Confirm;

  5. That's it, your FET deposit is now staked! Relax and wait for your first rewards to arrive. See the Rewards section down below for more details.

FET staking rewards

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

You'll receive your first staking rewards after a new block has been mined which only takes 6.7 seconds. 

After that, your rewards will continue to arrive once every block, so every 6.7 seconds. 

You'll be able to claim your rewards from your FET staking interface any time you want. Keep in mind the network fee, however. Make sure your claiming transaction won't cost you more than the amount of rewards you're trying to claim. 

How to unstake your FET

  1. Select FET in the Staking tab.
  2. Select Unstake. Keep in mind, that if you had several delegations, you will have to unstake each one individually. It is not possible to unstake all of your FET at once. 
  3. Enter the amount you want to unstake and select Unstake. Please note that unstaking takes 21 days. After you've unstaked your FET it will show up in the Unbonding section of the staking interface. 

In 21 days, your FET will appear under Available withdrawals. Just select Withdraw to have your coins deposited to your FET address.

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