IoTeX Staking Guide
Last updated
Last updated
This documentation portal is currently undergoing updates to align with the IoTeX 2.0 Whitepaper release. Information provided here may be incomplete, or out-of-date. Please use this portal for preliminary reference only, and check out the official IoTeX 2.0 Whitepaper for updated information.
.2024 | IoTeX
To begin staking IOTX, you will need a compatible wallet. Use ioPay if you prefer to manage your stakes on a mobile phone, or MetaMask for managing your stake from a desktop.
To start, purchase IOTX tokens from a cryptocurrency exchange. Then, transfer them to your chosen wallet. For detailed guidance on funding your wallet, follow this link:
This can be done directly through the ioPay app's in-built browser or via a Metamask-enabled web browser. Once you reach the staking portal, you will be prompted to choose between two staking methods: 'Native Staking' or 'Stake as NFT'.
In the first screen of the Staking process, you can browse the list of IoTeX Validators and choose one to delegate your IOTX tokens to. At any time you will be able to redirect your votes to a different delegate without the need to unstake your IOTX.
Delegates all have unique reward plans to cover costs, donate to funds, and re-distribute rewards to their voters. Think of it as Delegates charging a service fee to stake your token.
Create a diverse voting portfolio that is representative of your vision for the future of IoTeX.
Community: If you want IoTeX to prioritize community, vote for an IoTeX Ambassador!
DApps: If you want to prioritize dApp development, vote for a Dev Group!
Enterprise: If you want enterprise to be a priority, vote for a delegate founded by an investor.
The difference in rewards across Delegates is marginal (i.e., 80% vs. 85%), but the difference in potential impact can be large – vote for multiple delegates, and vote for the benefit of IoTeX!
There is a minimum staking requirement of 100 IOTX.
In the next screen, you can select the Decide the amount of IOTX you want to stake.
Please make sure you do not select your entire balance: you should leave a fraction of IOTX (e.g. 0.1 IOTX) out to cover for staking transactions.
Be aware of any lock-up periods during which you cannot withdraw your staked tokens.
Staking IOTX earns you rewards, usually distributed automatically to your wallet.
As a staker, you may have the right to participate in IoTeX governance decisions, contributing to the future direction of the network.
If you decide to unstake, follow the platform's process for withdrawing your tokens. Note there is a 3-days "unbonding period" before the tokens can be withdrawn. During this period the tokens will not generate rewards.
Keep up-to-date with IoTeX news and updates, as changes to the network or staking process can impact your participation.
Staking as NFT enables participation in Liquid Staking or other DeFi applications and unlocks the potential to earn additional passive income. Furthermore, you have the option to liquidate your stake in an if you prefer not to wait for the lock period to conclude.
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