How To Stake TLOS: A Simple Guide With FAQs
TLOS is the native coin of the Telos Blockchain. You can stake your TLOS coins and earn interest/returns/profits compounded automatically every 30 minutes. The rewards come from a community reserve and are distributed to those who stake their TLOS to REX.
The process to stake TLOS to REX is pretty simple. You need to have your TLOS on the Telos Blockchain to get started. There are multiple interfaces to help you stake TLOS. This article shows the process to stake using Staker and Bloks, you can use either of them or any other trusted block explorer or interface.
If you don’t have a Telos account, Click here to get one!
1) Staking Using Staker:
Staker is probably the easiest way to stake TLOS to REX due to it’s user-friendly interface.
Supported wallets/signers: Anchor, Telos Sign, Scatter, Wombat.
The step-by-step process to stake is given below:
- Go to https://telos.staker.one
- Select the wallet you are using and connect it.
- Scroll down to find ‘MANAGE RAM’ button under resources and click on it. Enter a small amount of TLOS (0.5-1 TLOS recommended), click on ‘Buy RAM’ and approve the transaction from your wallet/signer.
- Scroll down further to find ‘STAKE TLOS’, enter your Telos address there and a small amount of TLOS (0.1-0.5 TLOS each recommended) under ‘CPU stake amount’ and ‘NET stake amount’. Click on ‘Stake’ and approve the transaction from your wallet/signer.
This will help you perform most of the actions on Telos. Note that this is not the staking done for earning rewards, it is advisable to stake only a tiny bit because it is sufficient. Also, this need not be done when you are staking to REX again in the future or if you have already staked TLOS for CPU and NET in the past.
- Scroll back up to the top to find ‘START EARNING’. Click on it and you’ll be redirected to the page where you can stake your TLOS and earn passive income.
- Enter the amount of TLOS you wish to stake and click on ‘Start Earning’ and approve the transaction from your wallet/signer.
- Done! Wasn’t that quick? You can unstake them anytime after a minimum of 4 days from the ‘Return Funds’ option. Happy Staking!
2) Staking Using Bloks:
Bloks provides access to more advanced features such as savings lock.
Supported wallets/signers: Scatter, Anchor, Ledger S/X, Wombat, Lynx, EOS Auth, cleos/eosc.
The process to stake TLOS to REX is explained below:
- Go to https://telos.bloks.io
- Click on ‘Login’ on the top right and connect your wallet.
- Stake a tiny amount of TLOS to CPU and NET (0.1-0.5 TLOS each recommended) on https://telos.bloks.io/wallet/resources/stake
- Buy some RAM (0.5-1 TLOS recommended) from https://telos.bloks.io/wallet/ram/buy
- Go to the REX tab https://telos.bloks.io/rex
- Enter the amount of TLOS you want to stake, click on ‘Lend TLOS to REX’ and approve the transaction.
- Your TLOS is successfully staked to REX and has started earning you profits. You can unlend them anytime after a minimum of 4 days.
- Also, there is a ‘Move TLOS to Savings’ option, using which an additional 4 day timer whenever you try to unstake can be added, for security/safety purpose (optional). Happy Staking!
Frequently Asked Questions:
- What is REX and what does it mean to be staking TLOS to REX?
REX abbreviates to Resource Exchange. It was initially meant for lending and borrowing resources such as CPU and NET but evolved with time to become a means to earn rewards by staking TLOS.
- Where do the rewards for staking come from?
There is a community reserve which pays for various purposes, including REX staking.
- Is staking to REX 100% risk-free?
Yes! You are guaranteed 100% of your initial staking amount in TLOS.
- Is the rate of interest/apy fixed?
No, an allocation is set to REX rewards pool from the community reserve and the rewards/apy you get is dependent on the total number of TLOS staked to REX and the reward pool.
- Are the rewards automatically compounded?
Yes! You only need to stake them once and let your TLOS grow.
- Can I unstake anytime?
Yes, after a minimum of 4 days of staking.
- I have my TLOS on Trustwallet/Metamask on Ethereum/BSC. How can I stake?
You need to bridge your TLOS to the Telos Blockchain first using https://dapp.ptokens.io or a centralized exchange like KuCoin or Gate and then stake.
- The wallet I’m using is not supported. How can I stake?
If your wallet has staking built-in (like SQRL), you can use it or import your telos account on a supported wallet using the private keys and then stake.