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How do I stake INJ?
Stake your INJ with Atomic Wallet to earn rewards! Here, we'll guide you through everything you need to know to stake your INJ and make some profit.
Contents
- INJ 101: the things you need to know
- How to stake INJ in your Atomic Wallet app
- INJ staking rewards
- How to unstake your INJ
Getting started with staking
Staking looks pretty simple—instead of just holding your INJ deposit, you're choosing to stake it and earn interest. Where does the interest come from, though?
By delegating your INJ to a validator of your choice, you're expressing your trust in them, which makes them more powerful on the Cosmos blockchain. As validators get paid for confirming blockchain transactions, they in turn pay back to those who supported them. That's how you earn your rewards!
By staking your INJ in Atomic Wallet, you're choosing us as your validator.
INJ 101: the things you need to know before staking your coins
Injective (INJ)
- You’ll have to pay a network fee every time you want to stake, claim some rewards, or unstake your INJ. Make sure to leave some small INJ amount on your available balance, so that you can pay the fees. Otherwise, you won’t be able to either claim your rewards or unstake your coins. For more details about the network fees, see Does Atomic Wallet charge any additional transaction fees?
- A small amount of INJ (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.
- Rewards need to be claimed manually. INJ rewards are not claimed automatically, you need to claim them manually from time to time.
- Your INJ deposit will be frozen throughout the staking period. Your INJ will be delegated to a staking pool, which means that these coins won’t be counted toward your total balance. Also, you won’t be able to transfer or swap them.
- Unstaking takes 21 full days. Once you click or tap the Unstake button, your deposit will be frozen for 21 more days. After the unstaking period is over, your coins will be deposited to your address. Your INJ won’t be earning any interest over the waiting period.
- There is a minimum reward claim amount, it's three times the amount of the INJ 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 INJ, you'll need to wait until you have at least 0.0003 INJ.
How to stake INJ in your Atomic Wallet app
- Click Staking on the left sidebar and select INJ;
- Click Stake;
- Choose the amount to stake;
- Enter your password and click confirm;
- Success! Your INJ deposit is now staked, so relax and wait for your first rewards to arrive. You can click the hash of your staking transaction to track it on the block explorer.
- Select theStaking tab in the bottom panel and tap INJ;
- Tap the Stake button;
- Choose the amount to stake;
- Enter your password and click confirm;
- Voila, your INJ deposit is now staked! Relax and wait for your first rewards to arrive.
Rewards
Note: the minimum reward claim amount is three times the amount of a network fee.
You'll need to claim your INJ staking rewards manually. Since claiming is a regular transaction on the blockchain, the Cosmos blockchain will charge you a network fee for it every time. The fee will be taken from your available balance, not the staking deposit.
Press the 'Claim' button to claim your rewards. The button will get highlighted once there are any rewards available.
How to unstake your INJ
Note: Unstaking takes 21 days on the COSMOS blockchain.
Select the 'Unstake' button to initiate unstaking. You can then choose how much INJ you want to unstake.
