Celer Network is a blockchain platform for decentralized applications. It supports Layer-2 solutions on top of existing chains and offers high transaction capacity (TPS) at a low cost.
This article will focus on how to stake CELR with the imToken wallet.
For a deeper look at Celer Network, check out our recent introduction to Celer Network article. It covers the technology, the team, the token, and the network's key features that make it unique.
Create a Wallet
To store, stake, and send CELR, you can create a wallet in the imToken app.
1. Find and download the imToken app in the App Store or Google Play.
2. Open it and click Create Identity. An identity allows you to create new multi-chain wallets to store ETH, BTC, ATOM, and other coins.
3. Next, you must name your identity and set a password and a password hint.
4. Then, you can choose the coins you want to store in your wallet. You can change this at a later date. Ethereum and Bitcoin are selected by default.
5. Now you need to save a mnemonic phrase. The phrase is a unique key to your wallet and the only way to restore it. To keep your assets safe, you need to store the phrase correctly. You can either write the words on paper or save them to the hard drive. We also recommend using services like LastPass or KeepassXC.
6. At this point, you can use your wallet.
Top Up a Wallet
CELR token is available on a few chains. To stake it with the imToken wallet, we will use Ethereum. You will need to transfer the ERC-20 token to your Ethereum address.
How to add CELR to your wallet?
- Select wallet at the bottom of the screen.
- Select Ethereum from the drop-down menu at the top of the screen.
- Then, you need to choose between ''Tokens'', ''DeFi'', and ''NFT''. Select Tokens.
- Press the + button to the right of this toggle menu and search for CELR.
- Click the + button to the right of CELR.
- It will appear in your wallet, and you will see the available balance.
- You are now ready to top up and receive CELR tokens in your wallet.
There are different ways to top up your wallet.
- Receive tokens from another wallet.
- Purchase tokens on an exchange and send them to your wallet.
You can find your wallet address at the top of the screen.
Where can I purchase CELR?
You can purchase CELR on many exchanges, including:
- Crypto.com
- Binance
- OKX
- KuCoin
Find a full list here.
How to Stake CELR
To stake CELR, visit this website and choose a validator from the list. Everstake is one of the validators. Thus, you can delegate tokens to us.
The current APR is 5%. The minimum required CELR to stake is 1.
1. Visit this website on the in-app browser within your imToken wallet.
2. Click Connect Wallet in the top right corner, and select imToken from the drop-down menu.
3. After connecting your wallet, scroll down, select Everstake from the list of validator providers, and click Stake or Delegate.
4. Specify the number of CELR you want to stake and confirm the transaction.
5. You will see a message confirming your delegation.
It is time to monitor your rewards as they accumulate and learn how to claim them.
Monitor your Rewards
You can monitor your rewards here by navigating to the My Rewards section. You will receive two types of rewards for staking CELR.
- Staking rewards.
- Transaction fee rewards.
Claiming your Staking Rewards
To claim your staking rewards, navigate to Claim in the My Rewards section to unlock them and send them to your wallet.
Claiming Transaction Fees from cBridge
- Click the Claim Fee Rewards pool-based bridge next to the cBridge Transaction Fee from the My Rewards section.
- The website will show the rewards you have earned and have available to claim.
- You can choose to claim your rewards from a specific chain or aggregate all rewards from all chains to a single transaction on a single chain from this menu.
You are all set!
Feel free to contact our Celer Blockchain Manager on Twitter. Or, if you need any help with staking, you can book a call with the Manager, who will guide you through the process.
