Celestia is a groundbreaking blockchain platform that operates on a modular architecture. The Celestia team recently launched its Mainnet, offering users the opportunity to stake their tokens with validators using various wallets, including the Keplr Wallet.
We prepared a comprehensive staking guide on how to stake Celestia using Keplr Wallet.
What is Celestia?
Celestia is a pioneering modular blockchain that uses a Tendermint Consensus system and Cosmos SDK to operate as a PoS blockchain. It achieves better scalability, flexibility, and interoperability by separating layers, while also increasing throughput by splitting tasks into segments without compromising security. Celestia concluded its incentivized testnet called the Blockspace Race program, which was initiated in March 2023, in August of the same year. Subsequently, the mainnet was officially launched on October 31 of this year.
What is Keplr Wallet?
Keplr Wallet is a multi-chain wallet that allows users to securely store, manage, and interact with their digital assets across different blockchain networks. It provides a user-friendly interface for staking, managing governance proposals, and interacting with dApps on supported blockchain platforms, including Cosmos, Kava, Band Protocol, Secret Network, Celestia in beta support, and many more.
Why stake Celestia?
With the recent launch of Celestia’s mainnet, TIA tokens can yield a high APR. It’s an ideal moment to reap rewards while enhancing network security. Staking significantly enhances the security and stability of the Celestia blockchain. It goes beyond mere reward earnings, fostering dynamic engagement with the blockchain, fortifying its security, and propelling its ongoing growth and success.
How to Create a Keplr Wallet?
Step 1: Create a wallet
To stake Celestia tokens, you need to create a Keplr wallet. Download its Chrome extension or another convenient version. The workflow is pretty similar within all of them, so you can use this guide no matter which Keplr Wallet version you choose.
Then, add it to Chrome Browser.
If you already have an account, you can import an existing one. Otherwise, let’s learn how to create a new account.
Step 2: Back up the wallet
You can choose either 12 words or 24 words. Add the account name and set a strong password. After this, click Next.
A mnemonic phrase, also known as a seed phrase, is a string of words that serves as a backup for your crypto wallet. This phrase is used to restore your wallet in case you lose your device or forget your password. That means if someone else gets access to your mnemonic phrase, they can restore your wallet and gain control over your funds.
Remember, storing a safe mnemonic phrase and setting a secure password are critical steps to protect your crypto assets and ensure that only you have access to your funds!
After that, confirm your seed phrase and click Next to proceed.
Congratulations! You have successfully created Keplr Wallet.
Top Up Your Keplr Wallet
To begin staking, it’s essential to have Celestia’s TIA tokens in your account. To deposit funds into your Keplr Wallet, follow these steps subsequently.
Step 1. Add Celestia network to the Keplr wallet
After creating Keplr Wallet, you need to add Celestia network to Keplr, go to the Manage Chain Visibility menu and select Celestia.
Step 2. Copy your Celestia address
Return to your Keplr wallet, select the Celestia network, and copy your address. Next, click on Deposit and copy it.
Check this image for details.
Visit one of the trusted, TIA trading exchanges listed here. Once the transaction is complete, go back to your Keplr Wallet.
How To Stake Celeatia
Celestia is a secure proof-of-stake blockchain that uses the Tendermint consensus algorithm. After the Mainnet launch, users got the possibility to stake tokens in the network.
Step 1. Launch your TIA staking
Click Manage Portfolio in Keplr Dashboard at the bottom right corner of the Keplr Wallet extension.
The Keplr Dashboard will appear in a new tab. To start staking you need to select Celestia Chain.
Step 2. Select a Validator
To stake Celestia tokens, you need to choose a Validator. Go to the Dashboard and choose a trusted validator from the list of staking providers.
Click the Stake button in the following Everstake pop-up. You’re almost there!
Step 3. Stake Tokens
Input the desired delegation amount for Everstake, or opt for MAX if you want to stake all available funds. Keep in mind that you should leave a small amount of tokens to cover fees for future transactions. After that, click Stake.
Step 4. Confirm the Transaction
Go to the Keplr Wallet and approve the transaction.
Congratulations! Transfer completed successfully. Now you can check this transaction in the Keplr Dashboard.
Note that unstaking your tokens will have a 21-day lock-in period. This duration is a standard term when staking. It’s important to understand that you will retain ownership of your assets throughout this period, with the lock-in only preventing you from transferring the funds to other accounts for the specified time.
Conclusions
With the launch of the Celestia Mainnet, users have the opportunity to stake TIA tokens with a high APR. Participating in the staking of tokens in the Celestia Network, allows users to actively contribute to the network’s growth and the broader blockchain ecosystem. Consequently, this ensures the security and reliability of the network, which in turn can help attract more users and developers to the ecosystem.
Everstake has been actively engaged in Celestia’s development right from the outset. Everstake was an active participant on the Celestia Incentivized Testnet, enhancing the network’s reliability, security, and efficiency. Now we are validators of Celestia Mainnet. Our team is highly experienced in managing, maintaining blockchain nodes, and validating transactions, making it a valuable asset to the Celestia network. Apart from validator services, Everstake is also highly engaged in contributing to the broader blockchain community. The team regularly creates educational content, including articles and threads, on various topics related to Celestia. Everstake also participated in translating important Celestia documents related to modular technology into various languages.
If you have any questions, feel free to contact our Celestia Blockchain Manager on Twitter.
