kava
How to stake KAVA via Leap wallet
Discover the straightforward process of staking KAVA tokens using Leap Wallet for passive income.
JAN 16, 2024
Table of Contents
WHAT IS KAVA?
WHAT IS LEAP WALLET?
WHY STAKE KAVA?
How to stake KAVA via Leap Wallet
HOW TO UNSTAKE KAVA
The Takeaway
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Staking KAVA via Leap Wallet is a secure option for token holders to actively participate in the growth and development of the Kava ecosystem while getting consistent rewards.
In Kava’s Proof-of-Stake (PoS) blockchain, token holders can either run a validator node or delegate their tokens to a third-party node operator. Leap Wallet offers an interface that simplifies the staking process, providing users with a smooth and effortless experience.
Explore our step-by-step guide to learn how to stake KAVA using Leap Wallet.
WHAT IS KAVA?
Kava is a decentralized blockchain platform that uses the Cosmos SDK’s speed and interoperability features along with the developer power of Ethereum on its Layer-1 network.
The combination of Cosmos SDK and Ethereum expands KAVA’s functionality, allowing for smooth communication between applications belonging to both ecosystems. In turn, it expands the variety of decentralized applications and smart contracts that can be created and executed on Kava. This setup enables developers to build projects based on their preferences and easily connect with users and assets from multiple blockchains, expanding the projects’ reach and potential.
With more than 100 decentralized applications available, KAVA’s dApp ecosystem offers versatility in the DeFi space, including NFT marketplaces, DEXs, liquid staking platforms, lending services, and games.
WHAT IS LEAP WALLET?
Leap Wallet is a non-custodial wallet for storing, sending, swapping, and staking Cosmos-based tokens, including KAVA. It also allows you to access dApp, DeFi, and NFTs.
WHY STAKE KAVA?
Staking helps secure the network, so delegators are critical to the functioning of the blockchain and are an essential part of any PoS ecosystem. To compensate them for staking KAVA, KAVA holders will be able to multiply their tokens thanks to Kava’s high APR, which currently is more than 23%.
How to stake KAVA via Leap Wallet
The staking of KAVA tokens via Leap Wallet involves creating a wallet, topping it up with the tokens, and staking itself. If you already own a Leap wallet and have KAVA in it, just skip the first two steps and go straight to the third one.
Step 1: CREATE A LEAP WALLET
Install The Leap Wallet Extension
To install the extension, visit the official website and click Install Extension for Cosmos button. Now the wallet is listed in your extensions, and you can pin it for quick access. An app is available for both Android and iOS.
Create a New Leap Wallet or Import an Existing One
Click on the Leap Wallet extension icon. If you haven’t pinned it, find it in the list of extensions by clicking the puzzle icon on the toolbar. Then, click Create new wallet on the website. If you have Keplr or Cosmostation wallet, import them via seed phrase or connect with Ledger.
Write Down/Copy the Secret Phrase
You will see a unique secret phrase that no third parties can access. Write down this key and keep it safe. Never share it with anyone, as it grants access to your account.
Read our cryptosecurity guide to learn how to keep your crypto assets secure.
Create a Password
You must enter your password each time you open your wallet extension. Memorize or write down the password to keep it secure. You can only restore it with your secret phrase. Your Leap wallet is now ready for use.
Step 2: TOP UP YOUR LEAP WALLET
Before staking, you need to purchase some KAVA tokens. You can swap some other tokens like ATOMs to KAVA on Osmosis and withdraw them to Leap Wallet, or buy KAVA on one of the exchanges and send them to your newly created wallet.
Select KAVA in the List of the Chains
Click on the icon in the top right corner and choose KAVA.
Send the Funds to Your Wallet
Click Receive Assets on the home screen to find your wallet address and QR code. Copy the address using the icon next to it and use it as the recipient address at an exchange or Osmosis.
Step 3: STAKE KAVA
Your wallet is set up and ready for use. Now it’s time to start investing and multiplying your tokens.
Staking in the Leap wallet means delegating KAVA tokens to a validator.
Go to the Stake Tab
To delegate your KAVA, navigate to the Stake tab in the bottom menu.
Stake Tokens
Click Stake. Then, type Everstake in the search bar and select the validator from the list.
Enter the Staking Amount and Confirm the Stake
Enter the amount you want to delegate or select Delegate all to delegate all your funds. Once done, click Review.
After reviewing transaction details, click Stake KAVA to approve the transaction.
Claim Your Rewards
Your stake will earn rewards 21 days after staking. After leaving your stake for a while, return to the wallet and click the Claim rewards button on the home screen.
HOW TO UNSTAKE KAVA
The process of unstake is quite similar to the process of staking.
Go to the Stake Tab
To unstake, aka undelegate your KAVA, open the Leap Wallet and go to the Stake section. Tap on the deposited amount that you want to undelegate.
Undelegate
Enter the exact amount you wish to unstake and consider the transaction fee that will be charged.
Click Review to proceed. Verify the details and confirm the transaction by selecting Unstake KAVA.
Check Your Activity in the Activity Tab
Go to the Activity tab, where you can see the history of your transactions. Make sure you have your activities displayed there. Choose the last of them to get more info about the operations.
The Takeaway
Staking KAVA can help you earn passive income while contributing to the network’s security, stability, and growth. Leap Wallet is a great option for staking your KAVA tokens since it provides excellent security and convenience, allows for governance participation, and gives you full control over your private keys and tokens.
It’s crucial to select a reliable validator, such as Everstake, because we have a proven track record of security and uptime. This can significantly affect the staking rewards you earn.
If you have any questions or need help, feel free to contact our KAVA Blockchain Manager at X.
If you want to learn more about KAVA and how to stake it through other wallets, click here to start!
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Disclaimer
Everstake, Inc. or any of its affiliates is a software platform that provides infrastructure tools and resources for users but does not offer investment advice or investment opportunities, manage funds, facilitate collective investment schemes, provide financial services or take custody of, or otherwise hold or manage, customer assets. Everstake, Inc. or any of its affiliates does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated funds. Everstake, Inc. or any of its affiliates’s provision of technology services allowing a user to stake digital assets is not an endorsement or a recommendation of any digital assets by it. Users are fully and solely responsible for evaluating whether to stake digital assets.
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