Staking your CHZ tokens on the Chiliz blockchain is a powerful way to earn rewards while contributing to network security. With non-custodial solutions like Allnodes, you maintain control of your assets using popular wallets such as MetaMask, Ledger, or Trezor. This guide provides a clear, step-by-step process to help you delegate your CHZ efficiently.
The unbonding period for CHZ staking is 7 days, meaning you can access your tokens after this period once you decide to unstake. Always ensure you have a small amount of CHZ (around 0.01 CHZ) available to cover transaction fees for staking and future operations.
Prerequisites for Staking CHZ
Before you begin the staking process, make sure you have the following:
- A Web3 wallet like MetaMask installed and set up.
- If using a hardware wallet, have your Ledger or Trezor device connected and updated.
- Sufficient CHZ tokens in your wallet for staking and transaction fees (minimum 0.02 CHZ recommended).
- Basic understanding of blockchain transactions and confirmation steps.
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How to Stake CHZ Using Ledger via MetaMask
Step 1: Configure Network Settings
Open your MetaMask wallet, go to "Settings," select "Networks," and click "Add Network."
Step 2: Switch to Chiliz Network
Click the dropdown menu currently showing "Ethereum Mainnet" and switch to the "Chiliz by Allnodes" network.
Step 3: Connect Hardware Wallet
Connect your Ledger device to your computer and open the Ethereum application on it. In MetaMask, choose "Connect Hardware Wallet," select Ledger, and pick your address.
Step 4: Fund Your Wallet
Copy your wallet address and send at least 0.02 CHZ to it. This ensures you have enough for staking and gas fees.
Step 5: Delegate CHZ Tokens
From the validator pool, select "Allnodes," click the "Delegate" button, choose the amount of CHZ you wish to stake, and press "Submit."
Step 6: Confirm Transactions
Confirm the staking transaction both in MetaMask and on your Ledger device.
Step 7: Earn Rewards
Enjoy staking rewards through Allnodes' non-custodial service. Note that while the service is non-custodial, your tokens are technically sent to the staking smart contract during validator activation.
How to Stake CHZ Using Trezor via MetaMask
Step 1: Configure Network Settings
In MetaMask, navigate to "Settings," choose "Networks," and click "Add Network."
Step 2: Switch to Chiliz Network
Change the network from "Ethereum Mainnet" to "Chiliz by Allnodes" using the dropdown menu.
Step 3: Connect Hardware Wallet
Connect your Trezor device to your computer. In MetaMask, select "Connect Hardware Wallet," choose Trezor, and select your address.
Step 4: Fund Your Wallet
Copy your wallet address and transfer a minimum of 0.02 CHZ to cover staking and transaction costs.
Step 5: Delegate CHZ Tokens
Select "Allnodes" from the validator list, click "Delegate," input the amount of CHZ you want to stake, and hit "Submit."
Step 6: Confirm Transactions
Confirm the transaction in MetaMask and on your Trezor device.
Step 7: Earn Rewards
Start earning CHZ staking rewards with Allnodes' non-custodial service, keeping in mind the technical transfer to the smart contract during the process.
How to Stake CHZ Using MetaMask Directly
Step 1: Configure Network Settings
Open MetaMask, access "Settings," go to "Networks," and press "Add Network."
Step 2: Switch to Chiliz Network
From the "Ethereum Mainnet" dropdown, switch to the "Chiliz by Allnodes" network.
Step 3: Fund Your Wallet
Copy your wallet address and send at least 0.02 CHZ to it for staking and fee purposes.
Step 4: Delegate CHZ Tokens
Choose "Allnodes" from the validator pool, click "Delegate," select your CHZ amount, and press "Submit."
Step 5: Confirm Transaction
Confirm the staking transaction within MetaMask.
Step 6: Earn Rewards
Benefit from non-custodial staking rewards with Allnodes, acknowledging the smart contract interaction involved.
Frequently Asked Questions
What is the unbonding period for CHZ staking?
The unbonding period is 7 days. This means once you decide to unstake your CHZ tokens, you will need to wait for this period to access your funds.
How much CHZ do I need to start staking?
You need a minimum of 0.02 CHZ to cover both the staking amount and transaction fees. Approximately 0.01 CHZ is reserved for initial and future transaction costs.
Is staking CHZ with Allnodes non-custodial?
Yes, Allnodes offers a non-custodial staking service. However, during validator activation, your tokens are technically transferred to the staking smart contract, but you retain ownership and control.
Can I use any wallet to stake CHZ?
You can use wallets that support WalletConnect, such as MetaMask, Ledger, or Trezor. The process varies slightly depending on the wallet type, but all are supported for CHZ staking.
How do I claim my staking rewards?
Rewards are automatically distributed through the staking process. You can monitor and manage them via your connected wallet and the Allnodes platform.
What happens if I don't have enough CHZ for fees?
If you lack sufficient CHZ for transaction fees, staking and other operations may fail. Always ensure you have at least 0.01 CHY available for gas costs.
Staking CHZ on the Chiliz blockchain is straightforward with the right tools and knowledge. By following these steps, you can securely delegate your tokens and start earning rewards. Remember to use trusted platforms and keep your wallet secure throughout the process.