Introduction
Staking IRISnet can be a great option for those who want to hold iris 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 IRISnet (iris) Tokens
In order to stake IRISnet, you need to have it. To obtain IRISnet, you'll need to purchase it. You can choose from these popular exchanges.
2. Choose a IRISnet Wallet
Once you have iris, you'll need to choose a IRISnet wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards Stakin IRISnet (iris) Up to 11.78% APY Rates as listed by providers on Sep 6, 20263. Delegate Your iris
We recommend using a staking pool when staking iris. It's simpler and faster to get up-and-running. A staking pool is a group of validators who combine their iris, 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 IRISnet network. You'll be rewarded with iris 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.
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