How To Stake SAGA Using Keplr Wallet: A step-by-step guide
A step-by-step guide on staking $SAGA Network with Cosmos’ most famous wallet: Keplr Wallet
Creating a Keplr Wallet
- Step 1: To get started, go to: https://wallet.keplr.app/ to download the Keplr extension.
- Step 2: Open the page, and select “Create a new wallet” to start setting up your account.
- Step 3: You can choose to import an existing account if you already have a Keplr Wallet that you’re currently not logged in to.
- Step 4: If you’ve selected “Create a new wallet”, Keplr will ask you to select a new recovery phrase or to connect with Google. In this guide, we’ll use the Recovery Phrase.
Remember to store your recovery phrase securely offline and never share it with anyone. If you lose your recovery phrase, you will lose the assets within the wallet
Ensure you copy the seed phrase somewhere safe. Create an account name and desired password to access the wallet and confirm by selecting “Next”.
- Step 5: To confirm the creation of your Keplr wallet, fill out a selected number of seed phrase words and select “Register”
Your Keplr wallet is now ready. Go to: https://wallet.keplr.app/ to continue.
Funding Your Wallet
- Step 1: You can purchase your $SAGA on any CEX such as Binance, Bitrue, Bybit, Gate, etc or on a DEX such as Osmosis.
- Step 2: You can deposit your $SAGA to your Keplr wallet by selecting “SAGA” on the left menu under assets at https://wallet.keplr.app/chains/saga?modal=deposit&chain=saga as you withdraw it from Binance or any other exchange.
- Step 3: Next, copy the public wallet address on the top right of your dashboard or click on “Deposit” to copy the address there.
- Step 4: Send the $SAGA to your new wallet, wait a few seconds, and now you’re ready to start staking.
Staking $SAGA
- Step 1: Now that your wallet is set up and funded, it’s time to start staking. In the Keplr wallet dashboard, make sure you’ve selected SAGA’s staking tab. Or you can just use this direct link here!
(see the image below)
Stake SAGA with Omnistake on Keplr Wallet: Keplr Dashboard View
- Step 2: A list of validators should be visible. Select a validator by adding the name of your desired validator in the search bar or by scrolling down.
- Step 3: To select the validator, click on their name. A pop-up will appear. In the pop-up, select “Stake” to continue.
You can also search for “Omnistake.com” in the “Search for validator” text field to filter faster, or click here.
- Step 4: Once you’ve selected “Stake”, fill out the number of $SAGA that you’d like to stake and select “Stake” once again.
Note that staking will lock up your assets for 21 days. You will need to undelegate in order for your staked assets to be liquid again. This process will take 21 days to complete.
- Step 5: Check the transaction details and select “Approve”.
And that is it! You’ve done it! Now sit back and enjoy earning staking rewards and Airdrops while at the same time helping secure the Saga Network!
Tracking and Claiming Staking Rewards
Under the “Staking” tab you’ll be able to see all your staked tokens and also if you have any Staking Rewards to claim. Check the above image for reference.
If you don’t see any claimable tokens yet, don’t worry, it takes some time for the rewards to accumulate. For SAGA, the rewards are distributed with every block, which is roughly every 6 seconds.
Once you have some rewards accumulated on your account, you can click “Claim”. Then a pop-up appears, giving you two options. Either to “Claim & Stake All” or simply “Claim All”, to compound your rewards with the same validator, choose the first option to grow your staked token amount and increase your future rewards. Approve the transaction to continue.
Boost your APY by enabling auto-restaking:
In the following article we are covering how to enable auto-restaking of your SAGA delegation rewards in order to earn additional yield on your SAGA tokens:
That is all, happy staking! 🌟
