Celer Network is a layer-2 blockchain scaling platform that enables fast, secure, and private off-chain transactions for crypto payments and smart contract executions. It allows everyone to easily build and use highly scalable, interactive, low-cost blockchain applications.
The main focus of this article is to provide guidance on staking CELR using Math Wallet.
For a more detailed overview of the Celer Network, we suggest reading our introductory article about Celer Network, which delves into the network’s unique features, technology, team, and token.
What Is Math Wallet?
MathWallet is a cryptocurrency wallet compatible with over 50 public blockchains, providing storage options for popular digital assets such as Bitcoin, Ethereum, EOS, Tron, and other altcoins. In addition, it facilitates cross-chain token swaps, hosts a store for decentralized applications across multiple blockchains, and operates nodes for Proof-of-Stake chains.
Why Stake CELR?
Users can delegate CELR to stake with validators to participate in the network consensus and, in return, get rewarded with CELR.
How to Create a Math Wallet?
Step 1: Install the Math Wallet app on your device:
Step 2: Open the app and accept the Terms of Service and Privacy Policy by selecting Agree.
Step 3: Select the Ethereum chain to create a wallet supporting CELR tokens.
We will consider creating a new wallet, but if you already have one, you can import it with Mnemonic Words.
Step 4: Click Create a Wallet. You will need to come up with a wallet name and password. The password will need to be confirmed by re-entering it.
Step 5: Create a wallet to back up the Mnemonic Words. Make sure you save them in a safe place, such as writing them down on paper, because if you lose them, you won’t be able to recover access to your assets.
Step 6: Place the Mnemonic Words in the correct order to make sure you save them. Afterward, click Confirm.
Congratulations, your wallet has been successfully created!
Step 7: To make the CELR visible among your assets, click the three dots in the upper right corner and select Add Assets.
In the search box, type CELR and click the plus icon to add a token.
You can now see CELR in the list of assets in your wallet.
Top Up a 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.
To get tokens to your wallet, select CELR in the list of assets and then click Receive.
Now you can see the address of your wallet and the QR code to get the tokens.
You can purchase CELR on many exchanges, including:
- Crypto.com
- Binance
- OKX
- KuCoin
Find a complete list here.
How to Stake CELR
To stake CELR, you first need to go to the Browser tab. Then go to the SGN Staking website.
You will see a warning afterward. Read it and click Confirm.
On the SGN website, click Connect Wallet and choose Math Wallet from the list.
After that, you need to select a validator from the list. Everstake is one of the Celer Network validators, so feel free to delegate your tokens to us.
You can see the details of the validator by selecting Details. Once you have chosen a reliable validator, click Delegate.
Specify the number of CELRs you want to stake and click Delegate. Note that the minimum amount of stake is 1 CELR.
You can choose the size of the commission. After that, click Confirm.
Enter the password to confirm the transaction.
When the transaction is confirmed in the blockchain, your tokens are delegated to the validator.
You will see the details of your delegation. You can also unbond, withdraw or stake more here.
To see information about your rewards, go to the My Rewards tab at the top of the site.
Conclusion
Delegating your CELR tokens using MathWallet is a straightforward and secure process. By following the steps in this article, you can ensure that your CELR tokens are being put to work, earning rewards, and contributing to the network’s overall security.
If you have any questions, please contact our Celer Network Blockchain Manager on Twitter.
