SUI
When you delegate stake to a validator, you specify:
- ID of the node you wish to delegate to.
- Start and stop times of your delegation (which must be while the validator is actively validating).
- Precise amount of SUI you are staking.
Staking Requirements
- No minimum amount that a delegator must delegate. Note that a delegator will need to pay an additional amount of gas fees in SUI tokens.
- No minimum staking period. Delegators have choice to swift validators or withdraw SUI at the end of each epoch.
- No maximum staking duration for validation.
Step 1: Install SUI wallet
- Install SUI wallet extension to start staking.
https://chrome.google.com/webstore/detail/sui-wallet/opcgpfmipidbgpenhmajoajpbobppdil
- In addition to SUI native wallet, SUI network also supports Ledger wallet.
Step 2: Create Account
To initiate the process, simply locate the extension in the toolbar of your Chrome or Brave browser. You'll see a new page open up.
- Click on the "Get Started" button to begin creating your account.
- Create a strong and secure password for your wallet to protect your information.
Ensure you keep your mnemonic seed safe and secure, which is a set of 12 words that will be provided to you.
It's vital to back up this seed securely. Remember, anyone who gains access to your mnemonic seed will have the ability to take control of your assets.
If your mnemonic seed is lost, there is no way to recover it.
Step 3: Fund wallet
Make sure to deposit your SUI tokens into your recently created wallet.
To acquire SUI tokens, you have some options available. You can use an exchange platform to transfer the tokens directly to your address. Alternatively, you can obtain the tokens from someone who already possesses them.
Step 4: Stake SUI
Make sure you are on SUI mainnet in order to carry out these transactions successfully, and then click on ‘Stake & Earn SUI’.
Find SenseiNode validator in the drop down list and verify the validator address:
0x0ae4b2b4ed34dd551a01a946e51c0c431726faf5568659560f76b31642588468
Enter the amount of SUI you would like to stake and click ‘Stake Now’.
- You will need to wait for the delegation to be confirmed. This process takes around 6 to over 7 hours, detailed in staking rewards start time.
- Once your delegation is confirmed, you will start earning staking rewards. The rewards are paid out in SUI and are based on the amount of tokens you have delegated and the length of time you have been staking.
You can access comprehensive information about the validator, which encompasses various metrics such as staking APY, stake share, total staked amount, staking rewards start time, staking rewards redeemable time, as well as gas fees associated with the staking process.
SUI
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