As the world’s first DeFi Lease platform, Nolus brings forth an innovative approach to credit markets with its interoperable blockchain lease. This guide is exclusively crafted for stakers like you, highlighting your crucial role in network security and the exciting rewards that await.
Nolus operates as a fully automated and transparent money market, prioritizing the safety of your funds. With community-led governance and an open-source code, you have a say in shaping the platform’s future.
While Nolus caters to various users engaged in crypto activities, their focus is on empowering stakers. By locking your NLS tokens, you not only contribute to the network’s stability but also unlock exciting rewards and protocol-related benefits.
In the upcoming sections, we will dive into the intricacies of the staking process within the Nolus ecosystem, equipping you with the knowledge and tools to maximize your rewards. Get ready to stake, secure, and earn with Nolus!
Why stake NLS?
Staking NLS tokens allows you to participate in the Nolus network’s governance, earn rewards, and help secure the network. By staking your NLS tokens, you’re essentially locking them up for a certain period of time. In return, you receive rewards in the form of additional NLS tokens. The more tokens you stake, the higher your potential rewards.
How to create a Nolus wallet?
If you’re looking to store NLS tokens, you have three wallet options at your disposal — Keplr, Ledger, and Leap Wallet. For detailed steps on how to create each of these three wallets, check out the following guides:
How to stake NLS using Nolus App?
Step 1: Connect the wallet
First, open the Nolus App. In this app, you can do leasing, but right now, we focus on staking. To make the most of the app, it’s essential to connect your crypto wallet. In this guide, we’ll use Keplr Wallet as an example.
Step 2: Top up your wallet
To acquire NLS tokens, you can visit Osmosiszone. Navigate to the SWAP section and purchase the desired amount of NLS tokens. Once you have completed the transaction, return to the Nolus App.
Within the Nolus App, locate the Send/Receive or Receive option and select it. Set the recipient as Osmosis and specify the amount of NLS tokens you wish to transfer. Finally, click on Receive to initiate the transfer.
Step 3: Delegate NLS
Now that your Nolus App wallet is funded with NLS tokens, you’re ready to begin the staking process. Within the Nolus App, navigate to the Earn tab. Locate the NLS token and click on Delegate to initiate the staking process.
Note: When you delegate here, your tokens will be automatically delegated to random validators outside of the top third based on voting power. However, if you prefer to select a specific reputable validator like Everstake, you have the option to do so. Simply click on the link provided at the bottom of the window to manually choose your preferred validator. This allows you to have more control over the delegation process.
How to stake NLS using Nolus Explorer?
Step 1: Connect the wallet
After choosing the option to Manually choose validators to delegate with. You’ll then be redirected to Nolus Explorer. Here, a separate connection to your wallet is required for security purposes.
Step 2: Import Your Address
Next, you’ll need to bring in your wallet address. This is like a unique identifier that shows which wallet is yours. It’s used to make sure that your transactions go to the right place. To do this, you’ll follow the instructions on the screen, which usually involve copying and pasting your wallet address into a specified field.
Step 3: Choose how you want to import your accounts
Next, you’ll be prompted to select a device to import your accounts from. You can choose from Keplr, Ledger via WebUSB, Ledger via Bluetooth, or use an Address (Observe Only). Simply select the option that corresponds with your device or requirements and proceed as instructed.
Step 4: Verify Account Details and Input Account Name
Now, you’ll need to confirm the details of your account in the wallet. When asked for the account name, input it. After verifying the account details, you’re all set – your account has been saved!
Step 5: Select a validator
Take a moment to review the available validators. Consider Everstake, one of the leading validators. Everstake is highly regarded for its exceptional staking services and holds a significant stake as an early investor in Nolus. Once you’ve made your decision, simply click on Delegate next to the chosen validator’s name.
Step 6: Delegate token
Specify the precise amount you wish to delegate. Enter the desired amount, then click Send to proceed. Finally, confirm the transaction within your wallet to complete the delegation process.
Step 7: Manage your delegation
Congratulations! You have successfully staked your NLS tokens. To gain a comprehensive overview of your assets, head over to the Dashboard section within the Nolus Explorer. Here, you can view and manage your staked tokens. Additionally, you have the flexibility to delegate more tokens, redelegate, or even unstake if necessary, providing you with full control over your staking activities.
How to withdraw rewards
To claim your staking rewards, navigate to the Dashboard section in the Nolus Explorer and locate the More button. Click on it and select the option for Withdraw rewards. Before proceeding, verify that the displayed wallet address is correct. Finally, click on Send to initiate the withdrawal of your staking rewards.
Remember, staking your NLS tokens with Everstake can significantly enhance your earnings, offering up to 16,3%% APR. Note that this figure can fluctuate depending on various aspects. Additionally, as Nolus continues to evolve and its Total Value Locked (TVL) increases, the price of NLS tokens could potentially rise, further boosting your returns.
The Takeaway
By following this guide, you’ll find staking NLS tokens through the Nolus App and Explorer to be a straightforward process. At Everstake, we highly recommend our validator services for your staking needs. With the trust of over 625k users across 70+ blockchain networks, Everstake was founded by our team of dedicated engineers in 2018.
As a self-funded and profitable enterprise, we take pride in managing a vast network of 8,000+ nodes for various blockchain protocols, including bridges and oracles. Our team of over 125 professionals is committed to providing top-notch staking services and maintaining the utmost security and reliability.
Choosing a reliable validator like Everstake is crucial as it directly influences the staking rewards you can earn. If you have any questions or need further assistance, please don’t hesitate to reach out to our Nolus Protocol Manager on Twitter. We’re here to help you make the most of your staking experience.
