Injective is a blockchain developed to support next-gen DeFi products. It also has an MEV-resistant on-chain order book, cross-chain bridging infrastructure, and compatibility with IBC-enabled blockchains, Ethereum, and non-EVM chains such as Solana. This makes Injective highly interoperable, which is beneficial for developers and users. If you want to know more about Injective, read our overview.
INJ is the Injective’s native token. It is used to pay gas fees, participate in governance, incentivize Injective developers, and secure the network through staking.
Why Stake INJ?
Staking INJ offers you a triple benefit at once:
- Delegating INJ tokens to validators allows you to earn staking rewards, creating opportunities for passive income and potential asset appreciation.
- Staking supports the Injective network’s security, protecting against vulnerabilities, validating transactions, ensuring smooth operations within the ecosystem, and incentivizing developers.
- INJ delegators can participate in governance, voice opinions, and shape platform decisions.
Staking INJ tokens not only enhances personal returns but also influences the overall health of the Injective network. This guide will walk you through staking INJ using the Exodus Wallet.
What is the Exodus Wallet?
Exodus is a non-custodial crypto wallet with an elegant interface. It is perfect for beginners as it is quite easy to use, yet it guarantees the reliability and security that advanced users need. Exodus supports over 250 cryptocurrencies and adds new ones regularly, making it a great choice for those who hold a variety of popular coins.
How to Stake INJ via the Exodus Mobile Wallet
Follow this guide to easily stake your INJ tokens using the Exodus Mobile Wallet. It’s a simple process, even for staking beginners. To get started, you first need to create a wallet. Let’s dive in
Step 1: Install the Exodus Wallet
- Download the Exodus Mobile app from the App Store or Google Play.
- Tap on the Exodus Wallet app and tap the Install button.
- Once the app is installed, tap Open.
Step 2: Create a Walle
- To create a new wallet, click Create Wallet.
- Alternatively, import an existing wallet by clicking on the I Have a Wallet button and restoring the wallet using one of the available options:
- QR Code
- Backup Vault
- Secret Phrase
For this guide, we will create a brand-new wallet. After clicking Create Wallet, proceed to secure your account.
Step 3: Secure your account
Exodus Wallet recommends generating a backup of your wallet before initiating any transactions. This allows for account restoration in case of device loss or unavailability of the Exodus Wallet application.
To create a backup copy of your Exodus Wallet:
- Go to the Settings menu and tap Security.
- Tap Backup. Ensure no unauthorized persons are in the room, and click I understand the risks of sharing my secret phrase and then View Secret Phrase.
- Tap on Press and Hold to Reveal to display the mnemonic password. Remember to save it in a secure place.
- Confirm that you have saved the mnemonic password correctly, check Backup, and click Done.
Step 4: Activate Injective in your wallet
- Go to Assets.
- Search for Injective and enable it to add INJ to your portfolio.
Step 5: Top up your wallet
- Select Injective in your portfolio.
- Tap on the Receive button.
- Copy your INJ wallet address and send INJ to your newly created wallet.
Step 6: Stake INJ
- Select Injective in your portfolio.
- Tap the Stake button and then Stake INJ.
- Enter the amount of INJ tokens you want to stake and tap Stake INJ.
- Confirm the staking operation and press Stake.
Step 7: Activate the Auto Restaking Feature
The Exodus Mobile Wallet offers the Restake function, increasing your staking APY by approximately 1.8%. This feature eliminates needing to manually claim and stake your INJ staking rewards—the more INJ you stake, the higher your earnings.
Activate this feature by switching on the Auto Restaking button.
The takeaway
Want to earn passive income while contributing to the security and development of the Injective network? Then you should definitely try INJ staking with the Exodus wallet. The Exodus wallet offers an intuitive interface and supports many cryptocurrencies, making it ideal for all your cryptocurrency needs.
Everstake, as a trusted validator, ensures the safety and reliability of your staking experience. We are here to support you every step of the way. Happy staking, and we look forward to seeing you in our next guides!
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