Where and How to Stake Lum Network (LUM)

Introduction

Staking Lum Network can be a great option for those who want to hold LUM but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. 1. Obtain Lum Network (LUM) Tokens

   In order to stake Lum Network, you need to have it. To obtain Lum Network, you'll need to purchase it. You can choose from these popular exchanges.

2. 2. Choose a Lum Network Wallet

   Once you have LUM, you’ll need to choose a Lum Network wallet to store your tokens. Here are some good options.

   Platform	Coin	Staking rewards
   Stakewolle	Lum Network (LUM)	Up to 35.19 APY

3. 3. Delegate Your LUM

   We recommend using a staking pool when staking LUM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their LUM, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.

4. 4. Start Validating

   You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the Lum Network network. You’ll be rewarded with LUM for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.