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How to stake AVAX (Avalanche)

Chorus One
Chorus One
January 4, 2023
5 min read
January 4, 2023
5 min read

Overview

Category Details
Delegation Address NodeID-LkDLSLrAW1E7Sga1zng17L1AqrtkyWTGg
NodeID-4Ubqsj2vfwdGUUYNg1jtYpkYNNLugNBQ9
Wallet https://wallet.avax.network/
APR 9.2%
Block Explorer https://explorer.avax.network/
Staking Rewards https://www.stakingrewards.com/earn/avalanche/
Unbonding Period The minimum staking duration is two weeks.
1. Create an account

If you've spent some time reading how Avalanche works, you'd know that staking on Avalanche works a bit differently. First, you need an Avalanche Wallet. Create a new one or access your existing wallet here

Make sure you're on the right URL. Don't fall prey to phishing attacks by sites that look like the official wallet
Fastest Performing and Secure DeFi Wallet | Avalanche Wallet
2. Purchase some AVAX

Once you've accessed your wallet, you need some $AVAX! If you bought your AVAX on an exchange, you'll need to transfer it to the X-chain. Copy your X-chain address and use it to withdraw your AVAX from the exchange.

3. Cross Chain Transfer

You should now have some AVAX on the X-chain. But staking works with the P-chain so you need to use the "Cross Chain" feature to move your AVAX from the X to the P-chain. You will need to pay a small amount of AVAX as fees so make sure you don't transfer the entire amount.

4. Select Chorus One Node

Once your AVAX is on the P-chain, it's time to stake! Click EARN on the left-hand side of the menu.

Since you want to delegate your AVAX, click on DELEGATE and then ADD DELEGATOR. Now you want to choose the Node you're delegating to. In order to delegate to the @ChorusOne node, copy one of the following two node-ids

NodeID-4Ubqsj2vfwdGUUYNg1jtYpkYNNLugNBQ9
NodeID-LkDLSLrAW1E7Sga1zng17L1AqrtkyWTGg

Go to Search Node ID and paste it there. Click Select. You're almost there!

Sometimes you might see the message that the Node is oversubscribed. Try using the other nodeID if you see this message. In case, you see this message for all the nodes, feel free to email at support@chorus.one

5. Confirm Delegation

Select the end date for your stake, the amount for staking and click on Confirm. That's it. Congratulations. Your AVAX will now start earning rewards and you've just made the network more secure. If this AVAX staking guide helped you, share it with a friend!

The minimum staking duration is two weeks. A delegator will receive a higher percentage of rewards if they decide to stake for longer amounts (up to a year), thus incentivizing longer stake lengths.

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