Staking KAVA through Keplr Wallet is a prudent choice for token holders looking to secure and grow their assets. Like most Proof-of-Stake (PoS) blockchains, KAVA holders can stake their tokens by either running a validator node themselves or by delegating their tokens to a third party that is running a node.
When you stake your KAVA tokens, you help secure the network, which, in turn, earns you rewards in the form of additional tokens. Moreover, staking KAVA grants you voting rights, giving you a say in important decisions that impact the Kava network. It's about growing your assets and having a voice in the network's future.
To simplify the staking process, Keplr Wallet offers a user-friendly interface, ensuring a seamless experience. Explore the steps to stake KAVA with Keplr Wallet in our comprehensive guide. Following these instructions will unlock numerous benefits, increasing the value of your KAVA tokens.
What is Kava?
Kava is a Layer-1 blockchain platform that combines the fast and scalable features of Cosmos SDK with the developer-friendly environment of Ethereum.
The integration of Cosmos SDK and Ethereum enhances Kava's functionality, enabling seamless interaction between applications from both ecosystems, thereby expanding the range of possible decentralized applications and smart contracts that can be created and executed on Kava. This setup allows developers to create projects their way and connect with users and assets on different platforms.
Furthermore, Kava's platform hosts a thriving dApp ecosystem with over 100 different applications. Users can explore NFT marketplaces, trade on DEXs, participate in liquid staking, access lending services, play games, and use cross-chain features. This diverse range of dApps makes Kava a dynamic and resourceful blockchain environment.
What is Keplr Wallet?
Keplr Wallet is a non-custodial crypto wallet tailored for the Cosmos and Inter-Blockchain Communication ecosystem. Non-custodial means users have complete control over their private keys, unlike custodial wallets, where a third party holds the keys. This boosts security as no user data is stored on centralized servers.
Following this, Keplr integrates with the Inter-Blockchain Communication (IBC) protocol, a mechanism enabling different blockchains to interact and transfer assets among each other, expanding the interoperability and collaborative potential of these different cosmos-based blockchains in Keplr Wallet.
Currently, Keplr exclusively supports blockchains within the Cosmos ecosystem, including Cosmos Hub, Osmosis, Injective, Celestia, DyDx, Evmos, and Agoric.
Keplr keeps operations simple, enabling users to deposit, receive, and stake their assets, including KAVA tokens. It also displays all the available validators on each blockchain, aiding users in deciding where to stake their assets.
Getting started with Keplr
Various methods are available for accessing the Keplr wallet, be it through the mobile app, browser extension, or web application. However, in this guide, we'll focus on staking in browser extension through Keplr Dashboard. Here are the steps:
Step 1: Create a wallet
1. Navigate to the Keplr website to download the Keplr extension for your browser.
2. Once the extension is downloaded and installed, open it and select Create a new wallet to set up your account. If you already have a Keplr wallet, you can select Import existing wallet instead
3. If creating a new wallet, Keplr will prompt you to select a new recovery phrase. It's crucial to write down your recovery phrase and store it securely offline, as losing this phrase will result in the loss of your assets within the wallet.
4. After noting down your recovery phrase, fill out your account name, desired password, and confirm by selecting Next. Then, fill out your seed phrase in the correct order to register. Upon successful registration, your wallet should open in the web extension.
5. Once your wallet is set up, click on the Keplr icon in your browser and select the network you wish to connect to. In this case, search for and select Kava.
6. Congratulations, your account has been successfully created! You can now open your Keplr extension.
Step 2: Funding your wallet
1. Once your wallet is set up, click on the option Buy on the main page of Keplr’s Extension Wallet. You will get redirected to a 3rd Party Platform (like Kado, Moonpay, or Transak) to top up your Wallet.
2. Alternatively, on the same page, scroll down to find Kava using the Search Bar. Click on the symbol shown in the image guide to copy the wallet address, then use this address to transfer funds to your Keplr wallet from an external source, e.g. cryptocurrency exchange. For a list of exchanges where you can purchase KAVA Tokens, click here.
Step 3: Staking Process
1. On the main page of the Keplr Wallet Extension, click the Staked option at the top to be directed to the Staking Page. Here, you can view the total amount being staked and other available functions/options.
2. Click on Stake with Keplr Dashboard. You will be redirected to the Keplr Dashboard, where you can view your balance, choose KAVA, and start staking process.
3. Select a validator from the provided list of validators.
4. Click Stake, then enter the amount you wish to stake and proceed.
5. Ensure you review the Transaction Fee before selecting the Approve option.
6. Now, on the Dashboard's Kava page, you can view your staked amount as well as the list of your validators.
Step 4: Claiming Process
To manage your staking rewards navigate to the staking tab on Keplr Dashboard.
Press Claim and choose one of two options:
-
Claim & Stake: This allows you to claim your rewards and instantly re-stake the tokens with your chosen validator.
-
Claim: This option lets you receive rewards directly into your wallet's available balance.
Once you've made your choice, the Keplr Extension wallet will open for you to confirm the transaction, whether it's to claim and delegate your rewards or just to claim them. After confirming and paying the necessary fee, you can check your updated balance on the Kava token page.
Step 5: Unstaking Process
1. By selecting your validator on the Kava page within the Dashboard, you'll find the option to Unstake.
2. Ensure you read the notice provided. Select the amount you wish to unstake and click on Unstake. Approve the transaction, then verify the unstaking on the Keplr dashboard.
Please note: You have the option to cancel your unstaking transaction if needed. If you enable canceling unstake transactions, then your stake will resume as it was before activating unstake.
Step 6: Redelegating Process
1. Similarly to the unstaking process, by clicking on your Validator from the Kava page in the Dashboard, you get the option to Redelegate.
2. Here, you can search for and select the validator to whom you wish to redelegate your stake.
3. Enter the amount you wish to redelegate and approve the transaction.
Conclusion
After going through this guide, staking KAVA via the Keplr Wallet should be straightforward. We recommend Everstake as your validator. With trust from over 625k users across 70+ blockchain networks, Everstake is a self-funded, profitable company that employs over 125 people. They manage more than 8,000 nodes for various blockchain protocols, including bridges and oracles.
Choosing a reliable validator like Everstake is crucial as it significantly affects the staking rewards you earn. If you have any questions, feel free to reach out to our Kava Chain Manager on X (Twitter).
Ready to delegate your KAVA tokens to Everstake via Keplr Wallet? Click here to get started!
