Stride is one of the popular coins for staking on Cosmos. Stride allows users to earn yields by locking up their STRD tokens. Users can stake their tokens to accumulate interest and still use the staked tokens to earn additional yield through liquid staking.
This article looks at how to stake Stride (STRD) using Keplr, a web and mobile wallet.
What is Stride?
Stride is a liquid staking protocol for the Cosmos ecosystem that lets users stake tokens from any Cosmos chain to earn yields. Liquid staking allows users to earn yields on their locked assets through an equivalent number of new tokens. Stride is one of the few protocols that offer liquid staking on the Cosmos blockchain.
When you stake any tokens with Stride, you receive stTokens in exchange. The staked tokens can earn an auto-compounding staking yield. Plus, you continue earning additional yield through lending and by providing liquidity. The stTokens, which act as a placeholder for the staked asset, can be used in DeFi applications or sold for instant liquidity.
For example, users can stake Cosmos native token ATOM in exchange for stATOM. stATOM can then be offered as liquidity to ATOM/stATOM on Osmosis. Stride also allows users to redeem the stTokens for the original asset at any time (at a 1:1 ratio). STRD is the native governance token of the Stride appchain, allowing its holders to vote on important decisions regarding the network. STRD is staked to secure the network.
What is Keplr?
If you want to delegate your STRD to a validator, an easy option is to use the Keplr wallet. Keplr is a non-custodial Web3 wallet that allows users to interact with blockchain applications. Keplr is the most popular IBC-enabled wallet for the Cosmos ecosystem.
Why Stake Stride?
Staking STRD is a way to use your staked assets to get the yield within the Cosmos ecosystem. Check the reward you can get staking STRD with Everstake here.
How to Create a Keplr Wallet?
To stake STRD, you need to download and install the Keplr wallet.
Step 1: Install Keplr Wallet
Go to the official Keplr website (link) and click the Install Keplr button to get the download links.
Step 2: Download the Chrome Extension
Keplr is available as a browser extension for Chrome and Firefox, and also as a mobile wallet. In this example, we will use the Chrome browser extension, but you can use whichever browser you like. Click the Chrome button.
Step 3: Add to Chrome
Click Add to Chrome to install the wallet on your browser. Be sure to approve the installation of the plugin.
Step 4: Create a New Keplr Account
Open the Keplr wallet extension once the installation is complete. The following page will be displayed. Since this is your first time creating a wallet, click the Create new account button.
If you already have a Keplr wallet, import it using the Import existing account button. You will need to input your secret phrase and password to log in to your wallet and start staking.
Step 5: Back up Your Seed Phrase
This is the most important step. Back up your secret phrase (Mnemonic Seed) properly, as it is the only way to access your wallet if you forget your password. Write it down on a piece of paper and store it safely. Do not store your seed phrase on your computer or share it with anyone.
Step 6: Create Keplr Account Name and Password
Now set your account name and password. Click the Next button.
Step 7: Confirm the Secret Phrase
Confirm each of the requested words from your secret phrase by clicking the buttons respective to the order of the words in your secret phrase. That is, type the mnemonic seed phrase using the buttons on the screen. Once done, click Register.
Step 8: Click Done
If done correctly, the following page should be displayed on the screen. Congratulations! Now click Done to complete the setup process.
Step 9: Open Your Keplr Wallet
Access your wallet by clicking the blue Keplr icon on the top right corner of your browser. You will be able to see the balance and copy the account address.
Fund Your Wallet with STRD
The first thing you need to do is transfer STRD to your Keplr wallet. You can get STRD tokens by participating in various airdrops on the Stride website. Check if you’re eligible to receive free STRD tokens by visiting the Stride airdrop page. If you already have a positive balance in your wallet, you can skip this step and move directly to staking.
Here’s how to top up your Keplr wallet with STRD tokens:
Step 1: Navigate the Keplr wallet dashboard and select Stride to switch between chains. You can either type in the search bar or scroll down to find the Stride chain. Click on Stride after finding it.
Step 2: Next, click Deposit. Copy the wallet address that appears. You can also scan the QR code with your smartphone to initiate the transaction.
Step 3: Go to the exchange or wallet where your STRD tokens are stored and send your STRD to the Keplr wallet address you’ve just copied. Your tokens should now appear in your Keplr wallet.
How to Stake STRD via Keplr
STRD uses a delegated proof-of-stake consensus method to run smart contracts and validate transactions on its blockchain. That means you can delegate your STRD with an approved validator, such as Everstake, and start earning staking rewards. Here’s a step-by-step guide on how to stake STRD from your Keplr wallet:
Step 1: Select Stake
Navigate to the Keplr dashboard and click Stake at the bottom corner of the page. You’ll be redirected to the Keplr staking page where you can delegate your tokens to a validator.
Under the Available Balance tab, click Stake.
Step 2: Select a Validator
Now find Everstake from the list of Stride validators. You can find Everstake by typing in the search bar or scrolling down. Click Manage to select Everstake as your preferred validator.
Step 3: Select Delegate
Click the Delegate button on the appearing page.
Step 4: Enter an Amount
Enter the amount of STRD you would like to stake with Everstake (keep in mind that you’ll have to pay some fees, so leave some STRD in your account for that). C
Step 5: Confirm the Transaction
Confirm the transaction in the Keplr wallet extension window that appears by clicking the Approve button. Congratulations! You’ve just staked STRD to Everstake validator via the Keplr wallet.
How to Claim STRD Staking Rewards
When you’re eligible to claim rewards, you can do so right next to your staked tokens.
Step 1: Select Claim
Go to your Keplr wallet dashboard on your browser extension and Select Claim.
Step 2: Click Approve
In the pop-up window that appears, click Set Fee. Next, review the transaction and confirm it by clicking Approve. After a few minutes, you will see a confirmation that your transaction has been sent. You can now see your STRD added to your Total Balance.
Conclusion
Delegators can earn annual yields by staking their STRD. If you decide to stop staking and withdraw your tokens, there is a 14-day waiting period until you receive them.
Everstake is the biggest decentralized staking provider, trusted by 625,000 users. For the past four years, the company has been using enterprise-level hardware to run over 8,000 nodes for 50 blockchain networks, including Cosmos, Solana, Terra, and Cardano.
Everstake now offers Staking Insurance to protect users against losses resulting from slashing events.
Feel free to contact our Stride Blockchain Manager on Twitter.
