Cosmos is a vast crypto ecosystem with high scalability and diversity that seemingly effortlessly bridges apps and services across many blockchains that use it as their foundation. Cosmos Hub is at the heart of the ecosystem, and so is its native token, ATOM, which can be used to stake and generate passive income.
There are numerous options and opportunities to stake ATOM, but this guide will focus on Mintscan, a blockchain explorer that also enables asset delegation for staking.
Note that this guide can be applied to any Cosmos token listed on Mintscan. All you need to do is replace Cosmos Hub and ATOM with the respective Cosmos blockchain and token.
What Is Mintscan?
Mintscan is a popular blockchain explorer for Cosmos. It allows one to learn the principal metrics like APR, block height, block time, token supply, etc., as well as track transactions, governance, IBC accounts, and more. It is one of the most useful tools in the arsenal of any pro-cosmonaut.
Unlike other blockchain explorers, Mintscan also enables one to stake their ATOM through one of the two wallets: Cosmostation or Keplr.
Why Stake ATOM?
There are three main reasons to stake ATOM:
- You help the network work properly and support all applications that use it
- You get up to 14,5% of annual rewards for staking
- Having your ATOM staked makes you eligible for countless airdrops, where you get new tokens for free
How to Stake ATOM via Mintscan?
Staking ATOM via Mintscan is a straightforward process that requires just three simple steps. It’s designed to be user-friendly and will take you only a few minutes to complete, especially if you have prepared your wallet in advance.
- Go to the Cosmos dashboard on Mintscan and check whether the APR and other characteristics presented there are satisfactory for you when delegating your tokens.
Before proceeding, be sure to have ATOM tokens in your preferred wallet. If you don’t, you can buy them from any exchange listing ATOM, which can be found on CoinGecko in the Markets tab.
- Click the Connect Wallet button in the upper right corner of the menu to link your wallet.
This will open a pop-up window where you can select your preferred wallet providers, such as Cosmostation or Keplr.
Approve access in your wallet, as shown in the picture below.
- To start staking, click Stake in the left-hand side menu, and then select your validator (such as Everstake) from the drop-down list in the Select Validator section.
Note that you may redelegate your ATOM from one validator to another if you have already staked it. In that case, hit Switch Validator, choose the origin and destination validators, and specify the amount to move your ATOM to a different validator.
Specify the amount you want to stake and hit Stake.
If everything is fine, you’ll get a pop-up notification of the successful transaction, as shown in the picture below.
That’s it! Staking via Mintscan is as simple as that!
How to Track Your Stake and Claim Rewards
Once you stake, your delegation will display on the righthand of the screen in the Stake Tab. If you want to claim the rewards, just hit Claim Cosmos.
You will have a choice of simply claiming the rewards or compounding them. Compounding means that your rewards are instantly added to your original stake, and your new rewards will be calculated based on a greater stake amount thereafter.
Note that if you just claim your rewards, your ATOM balance will increase, and you will be able to use the tokens at your own discretion. Compounding them will lock them up until you unstake your ATOM.
In addition to the Stake tab, you can track your total ATOM balance by navigating to the Portfolio tab.
This tab provides detailed information about all the assets in your connected wallet, including ATOM. Your ATOM stake is shown in the Staked column, with rewards displayed immediately to the right.
You’ll also see the current rate, available amount, and total balance. The data here is updated in real time.
How to Unstake ATOM
To withdraw your staked funds (as opposed to rewards only), hit Unstake within the Stake tab and specify the amount you wish to withdraw. Click the Unstake button to initiate the process.
Note that your funds won’t become available immediately since there is an unbonding period in Cosmos. On average, it will take 21 days.
How to Send ATOM from Mintscan
To send your ATOM to another wallet or an exchange, go to the Send tab in the left-hand menu.
You will have three options for sending your tokens:
- Send: simply move the tokens to a different ATOM address
- IBC Send: move your ATOM to a Cosmos address, not necessarily in the Cosmos Hub (this is useful if e.g. you want to use DEX Osmosis DEX for further trading or get into a liquidity pool)
- Multi Send: move your tokens to several different addresses
How to Participate in Governance
By staking ATOM, you become a security provider for Cosmos Hub and, as such, are entitled to votes in the governance process. Your voting power is proportional to your stake.
- You can track live proposals in the Vote tab on the left-hand side of the screen. You can vote Yes, No, or Abstain depending on your personal view for any of the active proposals.
To do that, flag the proposal you want to vote for and click Vote on the upper-right side of the menu. You will be presented with your choices, so use your power wisely, as your vote may become decisive for the future development of Cosmos Hub.
Why Stake with Everstake
Everstake is one of the most prolific crypto-staking providers today, trusted by over 735,000 users across 77+ blockchains. With a long track record of nearly perfect uptime and high proficiency, Everstake is one of the market’s most reliable and responsible validators.
By staking with Everstake, you can benefit from our expertise and ensure your ATOM is safe. Moreover, Everstake offers competitive commission rates and a user-friendly interface, making it ideal for both beginners and experienced stakers.
Feel free to contact our Cosmos Blockchain Manager on X with any questions you may have or learn more about ATOM staking via our blog.
We’re here to help you make the most of your crypto investments.
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