Cosmos Network constantly expands and new promising projects appear. One of such is Rizon blockchain, utilizing Tendermint protocol and powered by Inter Blockchain Communication. Rizon team sets an ambitious goal to develop a digital currency & asset hub that provides a platform where stable coins tied to the world fiat currencies can be securely issued and enables off-chain and on-chain businesses to seamlessly interoperate with each other.
Everstake, a top-tier validator and early supporter of Cosmos Hub and other Cosmos-based blockchains, joined Rizon from its mainnet launch on September 28, 2021, as a Genesis validator. This guide developed by Everstake will help you to join the Rizon blockchain as an ATOLO holder and/or delegator.
First of all, It is worth mentioning that the native Rizon token ATOLO is an assignee of another existing token - HDAC. All HDAC holders were eligible to swap their tokens to ATOLO, taking part in Event Horizon which had lasted till 02-01-2022. Possessing ATOLO allows one to benefit from Rizon functionality and to earn staking rewards, providing security to the Rizon blockchain via validating process. Currently, ATOLO is listed on Coingecko and Coinmarketcap where you can find all exchanges to trade these tokens.
Create a Rizon Wallet
To get ATOLO, first, you need to create a Rizon address for it:
- Follow keygen.rizon.world
- Click Create wallet
- Read a warning message about securing your seed phrase and click Next
- Write your seed on paper and proceed
- Add words from the seed phrase to the blanks and click Next
- Your address is ready! Copy it, save, and tap Done
Staking ATOLO via Cosmostation wallet
Before you start, you need to top up your freshly baked Rizon address. For that purpose visit one of the exchanges which has listed ATOLO, buy some tokens, and withdraw them to your address. Then make sure your Rizon account has been already replenished. Follow the explorer page and paste your address to check up if your ATOLO tokens are there.
If you have ATOLO, you can proceed:
- Follow rizon.world
- Select Staking on the upper board and click Stake ATOLO to be redirected to the Cosmostation wallet
Before you start you need to connect Cosmostation wallet via Ledger or Keystation
- We select connect to Keystation and then click Import Wallet
Paste your Rizon account seed phrase that you had saved before, generating Rizon address in Section 2 of this guide, and click Next.
- Set up a pin-code
- Copy encrypted seed as required and paste it below, then click Next
Finally, tap Connect.
You are in the wallet now. To start staking, follow Delegate Tab.
- Find the list of Validators open for the delegation at the bottom of the page
- Choose the validator to delegate your ATOLO and tap Delegate
Note: we recommend Everstake as a notable staking provider led by a team of professionals in IT and Fintech with successful traction over 3 years in the industry, providing 99.99% of the nodes uptime. A total of more than 525 000 customers around the world have already staked with Everstake circa $6 billion of their crypto assets in 45 various blockchains.
- Write in an amount to stake and click Generate & Sign Transaction
- Allow transaction in appeared Keystation window
After entering the pin code to complete delegation, the transaction details will appear, including its amount, fee, hash, and link to the explorer.
- Click Confirm to come back to the Cosmostation wallet dashboard
That’s it! ATOLO tokens have been successfully delegated and participate in securing the Rizon blockchain. From now on, rewards accrue for every block proposed by your validator. The current state of staking and rewards appear in the Delegate section of your Rizon wallet. Rewards could be claimed anytime from the Delegate Tab dashboard of your wallet.
5. Undelegating ATOLO
If you decide to undelegate your tokens, please note that the unbonding period for ATOLO lasts 21 days, which means the unbonded amount will be available only after that period and no staking rewards will be accrued on the unbonded amount for that time.
The undelegating process is exactly the same as delegating:
- Tap Undelegate on the right hand from your validator in the Delegate Tab of your wallet
Write in an amount to undelegate and click Generate & Sign Transaction.
After confirming the transaction via Keystation, your wallet Delegate Tab dashboard will display the summary of your unbonding.
Now you know how to create, top-up Rizon wallet, and stake ATOLO tokens. Everstake wishes you profitable and seamless staking!
Subscribe to Everstake on social networks to receive the latest news from the world of cryptocurrencies!
