Learn how to liquid stake on Quicksilver Protocol with ease. This comprehensive tutorial provides step-by-step instructions and valuable tips for maximizing your staking experience. Start staking with Quicksilver and explore the world of liquid staking today!
Before we start, let us give you some tips…
Ready to multiply your possibilities in DeFi thanks to liquid staking? Quicksilver makes it easy. But before we begin, let us give you a tip: make sure to prioritize security by accessing Quicksilver Protocol from a secure device. To maximize Quicksilver's potential, install the Keplr wallet or seamlessly connect your Ledger device through Keplr.
Of course, you'll need some tokens for this journey. This time, we'll be using ATOM to show you how to easily stake using the Quicksilver Zone. Ensure you have enough tokens in your wallet to kickstart your staking adventure.
Finally, think of one or multiple reliable validators as your trusted partners in liquid staking. Consider factors like reliability, reputation, and performance. Need a guiding light? We've got you covered with a handy guide to help you choose the best validator. Now, step into the liquid staking paradise of Quicksilver Protocol. Let’s dive in!
Step-by-Step Guide to Liquid Staking on Quicksilver Protocol
Step 1: Get started with Quicksilver Protocol
First, log in to your Keplr wallet. Open your Keplr wallet application and enter your credentials to log in and access your wallet.
Next, visit the Quicksilver app. Head over to the Quicksilver Zone App and click on the "Get Started" button to enter the Quicksilver Protocol application.
Step 2: Connect your wallet and select the network
Once you've landed on the Quicksilver Zone App, you'll need to select a network. In this tutorial, we're choosing Cosmos Hub.
Next, you will have to connect your Keplr wallet. A list of available wallets will appear after choosing your desired network. Select "Keplr".
A pop-up from the Keplr extension will then appear, asking you to approve the connection. Click on "Approve" to grant access. Your wallet will now be connected to the Quicksilver Protocol.
Step 3: Choose your validator(s)
Once your wallet is connected and you have selected your network, you'll be able to see your balance of ATOM and qATOM, the liquid staking token of ATOM on Quicksilver.
To begin the staking process and choose your validator, click on the "Stake ATOM" button. This will bring up a list of validators from which you can choose your favorite ones.
For example, if you wish to select Stakely, simply type "Stakely" in the search bar. After making your selection, click on the "Next" button to initiate the staking process.
Step 4: Initiate the liquid staking process
After you've selected your validator(s) and clicked "Next", you'll be asked to indicate the amount of ATOM you want to delegate to the validator(s).
Enter the desired amount to stake, then click "Next" again. You'll then see a summary of your selection(s). The summary will include the validator's details, the redemption rate between the value of ATOM and qATOM, and the amount of qATOM you will receive.
After reviewing and adjusting your validator selection and delegation distribution (if applicable), it's time to activate the staking process. Click on the "STAKE" button to initiate your ATOM liquid staking.
Step 5: Confirm and monitor your staking
By clicking the "STAKE" button, you are effectively staking your ATOM tokens and receiving qATOM in return. It's an important step, so ensure all the details are accurate before you proceed. Welcome to the exciting world of liquid staking on Quicksilver!
To monitor your staking rewards, you can easily monitor your qATOM directly from your wallet, keeping track of your staking activities and rewards in real-time.
The Unbonding function allows users to unstake their assets and exit the Quicksilver Protocol. This process follows the native chain's unbonding period, after which the assets will be transferred directly back to the user's account.
It's important to note that the Unbonding function for assets deposited into the Quicksilver Protocol will be enabled soon. Until then, you can exit a position by migrating your qAssets to Osmosis and swapping them in the relevant qAsset pool.
Unleashing the Power of Liquid Staking with Quicksilver
Liquid staking with Quicksilver Protocol offers an easy and secure way to participate in the dynamic world of crypto. With a simple interface, trustworthy validators, and the promise of lucrative returns, Quicksilver paves the way for a more democratized and accessible blockchain experience.
By following this guide, you can take part in the blockchain revolution, gain from the rewards of staking, and contribute to securing the Cosmos network. So, why wait? Start your liquid staking journey with Quicksilver today!