How to Stake EGLD (Elrond)
Elrond Network uses Secure Proof-of-Stake (SPoS) to support its blockchain. As with most PoS networks, validator nodes aggregate transactions into blocks, execute them, and maintain the latest state of the blockchain. The owners of these validator nodes, such as Blockdaemon, receive rewards for supporting and advancing the underlying blockchain infrastructure and security. EGLD is the native coin on the Elrong network and is easy to stake with Blockdaemon.
To become a validator on the Elrond network you need to stake at least 2,500 EGLD. However, you can delegate lower amounts to an existing delegator.
By delegating with Blockdeamon, you get a share of the yield rewards without needing to run your own validator or stake 2,500 EGLD.
- Min amount for delegation – 1EGLD
- Reward Frequency – every day
- Unstaking period – 10 days
Follow the steps below to stake Elrond (EGLD) tokens:
You can also check out our How to Stake Elrond (EGLD) video walkthrough
Note: If you are interested in staking over 10,000 EGLD, please contact us to speak to someone from our team.
Step 1 – Set Up Your Elrond Wallet
- Navigate to https://wallet.elrond.com/ and create or access your existing wallet
- Make sure you are holding EGLD in this wallet, if not you will need to transfer EGLD to this wallet
- Once you access your wallet, on the left hand side menu navigate to ‘Stake’
- On the right hand corner, click ‘Stake Now’
Step 2 – Select Blockdaemon as Your Validator
- Under ‘Choose a Staking Service Provider’ search for ‘Blockdaemon’
- Select ‘Blockdaemon’ and click ‘Continue
- Input the amount of EGLD you wish to stake