Celestia is gaining prominence in the blockchain world by breaking down complex processes into simpler ones. It tackles the problem of slow transactions by separating the steps of verifying and completing them, leading to a smoother and faster experience. This is especially good news for developers, as they can now build their own blockchains on top of Celestia's strong and simple-to-use system.
With Celestia's mainnet now live, users can start staking, which is a way to support the network while earning some rewards. If you're looking to join in, this guide will show you how to stake your TIA tokens using the user-friendly Leap Wallet on your smartphone.
What Is Celestia?
Celestia is a novel layer-1 blockchain technology designed to support, scale, and make web3 applications more secure. It introduces what's known as a modular blockchain architecture to tackle the scaling issues that traditional blockchains face. This design separates the agreement on transaction order from the execution of transactions, enabling quicker processing times. It also makes it easier for developers to build their own blockchain projects on Celestia's stable platform.
On October 31st, 2023, Celestia initiated its Mainnet Beta named Lemon Mint, marking a significant leap in blockchain with its modular setup. This key step paves the way for Celestia's ambitious vision, which includes massive 1GB blocks and widespread adoption with a light node for every smartphone, simplifying blockchain deployment significantly.
What Is Leap Wallet?
Leap is an advanced 'super wallet' for the Cosmos ecosystem to provide a top-notch user experience tailored for Cosmos users. Available as mobile apps for iOS and Android and as a browser extension, Leap allows you to explore Celestia and over 60 other Cosmos ecosystem chains. Users can transfer and exchange assets between wallets, earn staking rewards, participate in governance, transfer assets over IBC, manage NFTs, and much more, all from within the wallet app.
Why Stake Celestia (TIA)?
Staking Celestia (TIA) allows you to participate in securing the network and contribute to its consensus mechanism. In return for staking your TIA tokens, you earn rewards, which can enhance your investment over time. Currently, the platform is offering an appealing Annual Percentage Rate (APR) of 21%.
Furthermore, staking with Celestia promotes its vision for a scalable blockchain network and integrates you into a community dedicated to building a decentralized ecosystem.
How to Create a Leap Wallet?
The Leap wallet, compatible with both iOS and Android devices, offers a uniform interface across platforms. To start using it on iOS, navigate to the wallet's website.
Step 1:
Select Get Leap, and then tap Download on the App Store to install.
Step 2:
Next, download the app onto your device and click Open.
Step 3:
After launching the app, select Login, and proceed to set your PIN for Leap Wallet, followed by the verification process.
Step 4:
Proceed by clicking on the Create a New Wallet button.
Step 5:
Next, you'll need to back up your seed phrase, which is crucial for accessing your wallet. Write it down, keep it private and secure, then confirm its safekeeping by clicking Yes, I have saved it somewhere safe. Verify by re-entering the requested words from the phrase and press Confirm to secure your wallet.
Step 6:
Congratulations! Your Leap wallet is now fully configured and ready for use after successfully verifying your secret phrase. You can begin sending, receiving, staking and managing your assets seamlessly within the app.
How to Top Up Your Leap Wallet
Before starting the staking process, you must have TIA tokens in your account. If you already have funds, you can skip this step. If not, follow the instructions below.
Step 1. Select Celestia (TIA) in the List of Chains
To switch to the Celestia network within your wallet, click on the displayed Cosmos icon. This will reveal a list of available chains. From there, choose Celestia (TIA), and then copy the Celestia address that appears for your transactions
Step 2. Send Funds to Your Wallet
To add funds to your wallet, purchase TIA tokens from an exchange listed on CoinGecko. Then, transfer the tokens to the Celestia address you copied in your Leap wallet and wait for them to arrive.
How To Stake TIA
Staking TIA with Celestia through the Leap wallet is straightforward and safe. Ensure you have enough TIA for transaction fees before you start. Follow the steps in the Leap wallet to stake your TIA tokens.
Step 1. Go to the Main Menu and select Celestia
To begin staking, navigate to the main menu in your Leap wallet, select Celestia if you have TIA tokens, and then click on the Stake button to initiate the staking process.
Step 2. Launch TIA Staking
In the staking section of your wallet, click Stake to launch the TIA staking interface.
Step 3. Select the Validator and Stake Tokens
You're almost there! Select a validator you trust, like Everstake, from the list. Decide on the amount of TIA you want to stake. Ensure you keep a small amount in your balance for transaction fees.
Step 4. Confirm the transaction
Finalize your staking by confirming the transaction details. Click Stake TIA to complete, and then check the Activity tab to see the transaction status.
Conclusions
Staking TIA on Celestia bolsters network security and is a straightforward way to earn passive income. Rewards accrue automatically with no active management needed.
Everstake, a key player in the Celestia ecosystem, stands out as a reliable validator. With experience across over 70 blockchains and a solid reputation in the Cosmos network, it offers a team focused on community, technical operations, and research. Choosing Everstake means opting for a seasoned blockchain community advocate.
Any questions left? Feel free to contact our Celestia Blockchain Manager on X anytime!
