$DSM Staking

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🧵 A step-by-step tutorial thread on $DSM staking #Desmos @DesmosNetwork

In order to stake $DSM and start earning rewards you'll first need to have a @ForboleX wallet Download the official chrome extension here: chrome.google.com/webstore/detail/forbole-x/fmblappgoiilbgafhjklehhfifbdocee/

Then log into the @ForboleX web app at x.forbole.com/ and click on "Get Started". After choosing the password needed to unlock the wallet, click on "create wallet" or "import wallet" to connect your @Ledger device

To start staking click on "Staking" on the left menu (x.forbole.com/staking) now you'll see the full list of 124 network validators that you can delegate your precious $DSM to Choose wisely as your delegated $DSM and rewards will depend on their behaviour

Here are some tips to help you picking the right validators: - Stake with validators that have good reputation in the cosmos - Check the validator stats (uptime, self-delegation, etc.) - Diversify your stake among multiple validators - Don't stake with 0% fees validators

Finally click on "delegate" next to the validator of your choice, input the amount of coins to delegate and continue if you wish to delegate to multiple validators just click on "add validator" and select the % amount

Always make sure to keep some $DSM for the transaction fees (you'll need some to claim rewards too) if you ever run out of gas you can use the @Stakely_io faucet stakely.io/en/faucet/desmos-dsm

This will prompt the @ForboleX extension window where you can review the transaction. click on "confirm" to submit the transaction on-chain and officially start earning 20% APR

To view and manage your delegations head over to the "wallets" page (x.forbole.com/wallets) you can now perform 3 actions by clicking on "manage": - withdraw rewards - redelegate to another validator instantly - undelegate your $DSM (you'll have to wait 14 days)

Bonus feature: thanks to @StakeEco it's possible to automatically compound rewards on a daily basis using their tool at: restake.app/desmos

You can read the unrolled version of this thread here: typefully.com/Raimo_0/rGcPVsl