Introduction
Staking Smooth Love Potion can be a great option for those who want to hold SLP 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. Obtain Smooth Love Potion (SLP) Tokens
In order to stake Smooth Love Potion, you need to have it. To obtain Smooth Love Potion, you'll need to purchase it. You can choose from these popular exchanges.
2. Choose a Smooth Love Potion Wallet
Once you have SLP, you'll need to choose a Smooth Love Potion wallet to store your tokens. Here are some good options.
3. Delegate Your SLP
We recommend using a staking pool when staking SLP. It's simpler and faster to get up-and-running. A staking pool is a group of validators who combine their SLP, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet's interface.
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 Smooth Love Potion network. You'll be rewarded with SLP 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.
Latest Movements
- Market cap
- $144.24M
- 24h volume
- $12.99M
- Circulating supply
- 41.19B SLP
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