Where and How to Stake Desmos (DSM)

Introduction

Staking Desmos can be a great option for those who want to hold DSM but earn yield in a secure way while contributing to the network. The steps can be a bit overwhelming, 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 Desmos (DSM) Tokens

   To stake Desmos, you need to have it. To get Desmos, you'll need to buy it. You can choose from these popular exchanges.

2. 2. Choose a Desmos Wallet

   Once you have DSM, you’ll need to choose a Desmos wallet to store your tokens. Here are some lekker options.

   Platform	Coin	Staking rewards
   Stakewolle	Desmos (DSM)	Up to 19.73% APY

3. 3. Delegate Your DSM

   We recommend using a staking pool when staking DSM. It’s simpler and quicker to get going. A staking pool is a group of validators who combine their DSM, which gives them a better 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 Desmos network. You'll be rewarded with DSM for these validations.

What to be Aware of

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