A Simple Guide to Staking Dymension (DYM) with Stakecito

Staking your DYM with Stakecito not only supports the security and efficiency of the Dymension network but also offers you a chance to earn rewards on your stake!

Staking

Jun 23, 2024

0 min read

By

Winfred K. Mandela

Dymension Overview

Dymension is a multi-layer blockchain protocol designed to overcome the limitations of traditional blockchains by enabling scalable, application-specific rollups called RollApps. It serves as a hub and factory for these RollApps, providing a secure, interoperable infrastructure with a seamless user experience. The Dymension Hub coordinates the ecosystem, while data availability networks ensure the integrity and availability of data. This innovative approach allows for the development of diverse applications, such as games, DeFi, and NFTs, enhancing the overall scalability and efficiency of decentralized applications.

Details on Staking with Stakecito

  • Validator Address: dymvaloper1vmzs5lq0kanz96nmr86d05kx4y3nrhsshn6lqa

  • Wallet: Keplr Wallet

  • Block Explorer: Mintscan

  • Unstaking Period: 21 Days

  • Stakecito commission: 5%

How to Stake DYM with Stakecito

1. Install the Keplr Wallet Extension

If you don't have the Keplr extension, visit the Keplr website and click on "Install extension". Choose the correct version for your browser (Chrome or Brave) and follow the setup instructions.

2. Create or Import an Account

Open the Keplr extension in your browser. If you don’t have a Keplr account, create one by following the prompts to generate a mnemonic seed (choose 24 words for enhanced security) and back it up securely. Remember, anyone with access to your mnemonic seed can access your funds, and a lost seed cannot be recovered.

3. Log Into Your Account

Once your account is set up, use the extension to view your address or navigate to Keplr Wallet Staking to access your full dashboard.

4. Stake Your DYM

Fund your account with DYM if it's not already funded. You can transfer them from an exchange or another wallet. To stake:

a) Search for and select the "Dymension" network.

b) Find "Stakecito" in the list of validators at the bottom of the page and click on it

c) Click 'Stake'.

e) Enter the amount you wish to stake and then click 'Stake' again.

f) Approve the staking transaction.

g) You have officially staked DYM with Stakecito!

Claiming Rewards

Over time, you'll see rewards accumulate. To claim them, simply access the Keplr extension and follow the instructions to claim your rewards.

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About Stakecito Labs

At Stakecito Labs, we've honed our craft as validators. Our reputation as the third-largest validator by delegation count within the Cosmos ecosystem speaks to our unwavering dedication and the trust placed in us by over 270,000 delegators worldwide.

Our validation services are not just about maintaining blockchain networks though; we validate networks outside of Cosmos as well (NEAR, Aleph Zero, etc.).

Our core mission is centered on demystifying blockchain technology to ensure it's accessible for everyone, from newcomers to seasoned investors. To begin staking, visit our homepage.

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