how to stake harmony one
How-to Stake Harmony ONE

Learn how to gain passive income and help decentralise the Harmony blockchain network by staking your ONE in this ONE cryptocurrency staking guide.

What is staking?

In a blockchain using a proof-of-stake (PoS) consensus mechanism such as Harmony, staking allows you to delegate your ONE tokens to a Validator in return for a share of the block rewards. 

Staking with an elected validator can yield a 9-10% APR which is paid in ONE tokens, re-staking your rewards will give you compound interest!

The minimum stake is 100 ONE, the more you stake the greater the reward.

When staking your ONE with a Validator, your ONE still belong to you but they are locked. This means you cannot use your ONE while they are delegated, but you can choose to un-delegate at any time to unlock your ONE.

There is a delay of 7 epochs between undelegating and your ONE being unlocked for use, but you can delegate to another Validator the epoch after undelegating.

One epoch in the Harmony protocol is 32768 blocks which works out around 18 hours with a normal block time of 2 seconds. During times of increased network load this may take longer.

How do I stake ONE?

First you will need a wallet that will allow you to stake.

How-to Stake Harmony ONE with Google Chrome

If using your Chrome web browser to delegate your Harmony ONE tokens, you have a choice of wallets:

Once your wallet is setup and loaded with ONE tokens head over to the Staking Dashboard and select a validator to delegate to.

You’ll need to sign in with your wallet before you can delegate:

how to stake harmony one

 

How-to Stake Harmony ONE with a Smartphone

Currently the easiest way to stake is via the Blits wallet which is available for Android and iOS smart phones. With Blits you can buy and stake ONE directly from the app:

how to stake harmony one mobile

Happy staking!

Dan

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