Aptos operates under a Delegated Proof-of-Stake (dPOS) blockchain model, where validators like Everstake gain higher voting power as they accumulate more delegators. Validators are then permitted to keep a percentage of the delegators' rewards. As a delegator, you reap benefits by staking your APT coins. Not only do you support the validator of your choice, but you also earn rewards. Furthermore, by staking APT tokens, you partake in blockchain governance. Each staked coin counts as a "vote," and the validator can cast these votes on your behalf. This brief guide will walk you through the process of staking APT tokens in the Petra browser wallet via Aptos Explorer.
What is Aptos?
Aptos is a Layer-1 project launched in early 2022. The project is geared towards achieving speed and scalability, employing Block-STM as the engine for parallel execution. The platform runs on the Proof-of-Stake consensus algorithm, AptosBFTv4, and utilizes the Rust-based programming language, Move.
What is Aptos Explorer
Aptos Explorer is a user-friendly tool developed by Aptos Labs. It allows monitoring transactions, scrutinizing blocks, and assessing blockchain network metrics. Additionally, Aptos Explorer provides an avenue for you to stake APT coins. This can be achieved by connecting your preferred wallet and selecting a validator. This guide is designed to walk you through this process in detail, ensuring you have all the necessary knowledge to stake effectively.
How to Choose and Create an Aptos-compatible wallet
There are several wallets that you can connect to start staking APT. Some of these include Petra, Pontem, Martian, Fewcha, Rise, Msafe, Nightly, OpenBlock, TokenPocket, TrustWallet, and Blocto.
For this guide, we will use the Petra wallet developed by Aptos Labs as an example. However, you can opt for any other wallet from the list above; the process for staking APT tokens will remain largely similar across different wallets. Let's begin with the Petra wallet.
Step 1. Add the Petra Wallet to Chrome
Begin by adding the Petra wallet to your Chrome browser. You can do this by visiting the Chrome Web Store by clicking the link to the wallet on the official Petra website. Once you've located the extension, press Add to Chrome and follow up by clicking Add extension. This will install the Petra wallet extension to your Chrome browser.
Step 2: Create a Wallet
Upon successful installation of the extension, you'll be automatically redirected to the main page. Here, you'll need to create a new wallet. Click the Create New Wallet button, enter a secure password, and hit Continue. A recovery phrase will be generated for you – make sure to save this and write it down in a secure location. After doing so, press Continue and input the recovery phrase that you just saved. This step is crucial as your recovery phrase is the key to restoring your wallet in case of loss or theft.
Step 3. Transfer APT Coins to Your Petra Wallet
After successfully installing the Petra wallet extension, you'll need to populate your wallet with APT coins. First, locate the extension button at the top-right corner of your browser window. Click on it and find the Petra wallet among your listed extensions. Open Petra Wallet, and you'll find your wallet address displayed in the top left corner. Copy this address.
Now, you can send APT coins to this address from exchanges such as Binance or from other sources. If you prefer, you also have the option to buy APT coins directly via your Petra wallet by clicking on Buy. Once you've successfully added APT coins to your wallet, you're ready for the next step.
Step 4: Connect Your Petra Wallet to the Aptos Explorer
The next step involves linking your Petra wallet to the Aptos Explorer. After ensuring that your wallet contains APT coins, navigate to the Aptos Explorer website. Look for the Connect Wallet option and click on it. In the list of available wallets, select 'Petra'. Your Petra wallet, loaded with APT coins, is now connected to the Aptos Explorer.
Step 5: Stake Your APT Coins with the Everstake Validator
Now that your wallet is equipped with APT coins, it's time to start staking. Navigate to the Everstake validator's page. Once there, click the Stake button. This action will initiate a transaction that you'll need to confirm within your Petra wallet. Remember, staking involves committing your coins to the network to help validate transactions, and in return, you'll earn staking rewards.
Over to you
And there you have it! You've just walked through the simple steps of staking APT tokens via the Aptos Explorer. By staking, you're not just sitting on the sidelines — you're actively supporting your chosen validator, earning rewards, and even having a say in the blockchain's governance. We used the Petra wallet in this guide, but don't worry if you're using a different wallet — the process is pretty much the same. Stake APT here. Follow Everstake to get the latest updates.
