Staking is a widely used method to support and interact with blockchain networks, allowing users to participate in network operations while exploring staking features. In this tutorial, you’ll learn how to stake test WAL tokens on the Walrus testnet, which is currently in its early testing stage.
What is Walrus?
Walrus is a decentralized storage and data availability protocol developed by Mysten Labs. It is designed to handle large binary files (blobs) and unstructured data, such as media files or extensive datasets. Currently, in its testnet phase, Walrus allows users to experience its functionalities and prepare for the upcoming mainnet launch.
The platform offers secure, efficient, and decentralized data storage solutions, making it suitable for various applications, including NFTs, AI training datasets, decentralized websites, and blockchain history archives.
Why Stake WAL?
Staking WAL tokens on the Walrus network lets you try out a new, decentralized way to store data and be part of its growth. By participating in the testnet, you help the Walrus team identify and resolve potential issues, improving the security and reliability of the network for the launch of the mainnet.
Currently, staking WAL allows you to get comfortable with the interface, so you’ll be ready to easily stake on the mainnet when WAL tokens start getting rewards.
How to Stake WAL Tokens with Everstake
Follow this simple guide to learn how to stake test WAL tokens with Everstake and go through the process firsthand.
STEP 1: Visit the Walrus Staking Website
- Go to the Walrus website.
- This is the official platform for staking WAL tokens.
STEP 2: Connect Your Wallet
- Ensure you have a wallet that supports SUI, such as Sui Wallet.
- Connect your wallet by following the prompt and approving the connection in the pop-up window.
STEP 3: Obtain Test WAL Tokens
- To stake WAL, you’ll first need the test WAL tokens.
- If you already have SUI testnet tokens, you can exchange them for WAL tokens. If you don’t, get some SUI testnet tokens from the SUI Discord, for example.
- Once you have SUI testnet tokens, enter the amount you’d like to exchange, approve the transaction, and receive your WAL testnet tokens.
STEP 4: Choose a Validator
- Choosing a reliable validator is important, even on testnet. Select Everstake as a trusted and experienced validator.
- Remember, Walrus is still in testnet, so the WAL tokens currently hold no real value.
STEP 5: Stake Your WAL Tokens
- Click the Stake button on the platform.
- Enter the amount of WAL tokens you’d like to stake (minimum of 1 WAL).
- Review the staking details, then approve the staking transaction.
Congratulations! You have successfully staked WAL tokens with Everstake!
To dive deeper into Walrus, check out our recent article: What is Walrus and Why Is It So Important?
Conclusion
Staking test WAL tokens offers you an option to explore storage staking in a hands-on way. By participating in the testnet, you contribute to the improvement of the Walrus network, helping the team find and resolve potential issues before the mainnet launch. As Everstake, we’re proud to support Walrus by providing reliable validation and media support, showcasing our commitment to the growth of innovative projects.
Stay tuned for updates as Walrus progresses toward mainnet, where staking WAL will offer real rewards and opportunities.
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