Nolus Protocol, a groundbreaking force in the DeFi sector, is not only about generating attractive returns for stablecoin deposits or amplifying assets for borrowers. At its core, Nolus prioritizes staking, a process that allows users to commit assets, secure the network, and get potential rewards.
By engaging in staking, users not only fortify the network’s defenses but also contribute to its stability, underpinning a trust-centric environment. Built upon a semi-permissioned PoS blockchain crafted with the Cosmos SDK, Nolus ensures a blend of rapid transaction speeds and unparalleled security. The emphasis on staking ensures that the network remains resistant to threats, creating an atmosphere of trust and commitment. Moreover, the use of IBC and Interchain Accounts accentuates Nolus’s dedication to interoperability, linking it seamlessly with diverse liquidity sources.
Peering into the future, Nolus envisions an expanded ecosystem. The roadmap includes assimilating more blockchains beyond the Cosmos mold and launching sophisticated reward systems, emphasizing the importance and benefits of staking. In essence, Nolus invites and prepares its community for a rewarding staking journey, laying the foundation for a decentralized, secure, and participative future.
Why Stake NLS?
Staking NLS is a way of supporting the security, operations, and decision-making processes of a blockchain. It aligns the interests of token holders with the health and success of the network:
Network Security: Staking tokens help in validating transactions and securing the network. The more tokens staked, the more decentralized and resistant the network is to potential malicious attacks.
Earn Rewards: By locking up (staking) your tokens, you receive rewards as compensation for your contribution to the network’s security and operations.
Consensus Mechanism: In a PoS system, those who hold and stake tokens are given the chance to validate and confirm transactions. This way, transactions are verified and added to the blockchain.
Mitigate Bad Actors: By requiring validators to stake their own tokens as collateral, it ensures they have a vested interest in properly confirming valid transactions. Malicious actions result in the loss of their staked tokens.
Influence and Governance: Often, staking tokens can also provide holders with the power to influence the direction of the platform, partaking in governance decisions.
What is Kujira?
Kujira, translating to “whale” in Japanese, stands tall on the Cosmos network, a decentralized platform facilitating inter-blockchain communication. This DeFi protocol is on a mission to transform every crypto enthusiast, from beginners to pros, into a ‘whale.’ With the ethos “Everyone deserves to be a whale,” Kujira aims to democratize the crypto space by offering user-friendly and affordable tools. In the crypto realm, a ‘whale’ denotes an individual or entity holding substantial amounts of cryptocurrency. Their moves can significantly influence market dynamics. Here’s what sets Kujira apart:
Semi-Permissioned Nature: Projects wishing to launch on Kujira undergo a governance vote, ensuring quality and sustainability while preserving decentralization.
On-chain Scheduler: This feature reduces reliance on bots, promoting efficiency and minimizing transaction costs.
Cosmos SDK Foundation: Kujira’s construction on the Cosmos SDK ensures modularity, adaptability, and top-tier security, paving the way for diverse app development on the platform.
Kujira’s POD platform, designed for the Cosmos network, is a staking platform that emphasizes the importance of decentralization in Proof-of-Stake ecosystems. It helps users by showcasing validators with varying degrees of influence, ensuring they make well-informed staking choices. Think of it like this: in a big group, if only a few people make all the decisions, it’s not really fair, right? That’s what POD helps avoid in the digital world of Cosmos. It shows users which participants have too much say and which ones are just right.
How to Stake NLS Using Kujira
Step 1: Access Kujira Nolus Staking Platform
To stake NLS with Kujira, first, make your way to Kujira’s dedicated Nolus Staking page. Simply open your preferred web browser and enter this URL:
Step 2: Linking Your Wallet
Click the Connect Wallet button positioned at the top right. A menu will emerge, prompting you to pick your preferred wallet from the provided options.
Step 3: Choosing Your Validator
Next, select a validator to entrust with your staking process. Navigate to the search bar, typically located above the list of validators. Input Everstake into this search field. As you type, the list will filter, and Everstake will appear.
Step 4: Review Validator Information
Take a moment to review Everstake’s information, which will typically include metrics like uptime, commission rates, total staked amount, and other pertinent data.
NLS Staking Process via Kujira
Step 1: Initiating the Staking Process
To begin your staking journey, navigate to the validator page. Once there, you’ll find a Stake button. Clicking Stake is the first step in delegating your tokens and participating in the network’s consensus mechanism.
Step 2: Determining Your Stake Amount
Once you’ve initiated the staking process, the next crucial step is to decide how many tokens you wish to delegate. A prompt will appear, allowing you to input the desired amount. It’s important to be mindful of the amount you choose, ensuring you leave some tokens for potential fees or other transactions.
Step 3: Confirming Your Stake
After specifying the amount you wish to stake, proceed by clicking the Stake button. This action will prompt a transaction request in your wallet. For security and verification purposes, you’ll need to approve this transaction. Once approved, your tokens will be staked with the chosen validator, marking the completion of the staking process.
Step 4: Overseeing Your Stake
Once you’ve successfully staked your NLS, navigate back to the Validator’s page for a comprehensive overview of your current stake. Here, you’re presented with several options tailored to your staking needs. You can choose to augment your stake by adding more NLS to the same validator. Alternatively, if you wish to retrieve your staked tokens, the unstake option is available.
Step 5: Claiming Your Staking Rewards
After staking, one of the perks is the accumulation of staking rewards. To view and claim these rewards, navigate to the bottom section of your chosen validator’s page. There, you’ll find a detailed display of your accumulated rewards.
Takeaway
Staking NLS with Kujira and Everstake offers a unique blend of security, profitability, and ease of use. Kujira’s platform is designed with user-centricity in mind, ensuring a seamless staking experience. When combined with Everstake’s reputation as a trusted validator, users can be assured of a staking process that is both efficient and reliable.
At Everstake, we pride ourselves on being a leading validator, having earned the trust of over 625k users across more than 70 blockchain networks since our establishment in 2018. Our foundation is built on a team of dedicated engineers, and we’ve grown into a self-sustained, profitable entity with a passionate workforce of over 125 professionals. We currently operate more than 8,000 nodes for 70+ blockchain protocols, encompassing validators, bridges, and oracles.
Our commitment to the blockchain ecosystem extends beyond just validation. We’ve taken on the mantle of an investor through Everstake Capital. This initiative is dedicated to supporting promising blockchain startups in their nascent stages. Our investment portfolio boasts over 25 success stories, including industry giants like Solana, Wormhole, Metaplex, Pyth, The Graph, and many more.
In essence, we’re not just a validator; we’re a cornerstone in the blockchain community, driving growth and innovation at every turn.
Engage Further with Everstake:
For those of you curious about NLS staking or in search of answers to related queries, our Nolus Blockchain Manager is always available on Twitter, eager to guide and assist. We invite you to reach out and explore our dedicated Nolus staking page.
If you’re keen to delve deeper into the Nolus protocol, we’ve crafted an introductory article about Nolus for you. And for those looking for a hands-on guide to staking on Nolus Native Platforms (App&Explorer), our detailed guide will walk you through the process. Join us in shaping the future of blockchain and enhancing your staking journey with Everstake!
