How to Stake Injective (INJ) and Earn Rewards Using Trust Wallet
Trust Wallet, available as a mobile app and Chrome Extension, is a simple-to-use, self-custody crypto wallet and gateway to Web3 for people who want to fully own, control, and leverage the power of their digital assets. Trust Wallet allows you to store and manage your crypto and NFTs, buy, sell, and stake crypto to earn rewards, access dApps securely and much more—all in one place. In this guide, we’ll focus on the staking feature, and specifically how to stake INJ.
Key details for staking INJ using Trust Wallet
- Minimum amount required for staking: 0.000001 INJ
- Lockup period for staking: 21 days
- Staking yield (APR): Please see rates listed in the ‘Earn’ section of the Trust Wallet app.
Trust Wallet does not control the minimum amount, lockup period, or staking rate.
What is staking?
Staking is a method of supporting a proof-of-stake (PoS) or a delegated proof-of-stake (dPoS) blockchain network by holding and "staking" a specific cryptocurrency. This activity contributes to various functions within the network such as transaction validation, upholding the network's security, and refreshing the blockchain. In return for their staking commitment, participants can earn staking returns, somewhat like earning interest in a traditional banking system.
What is Injective (INJ)?
Injective is a blockchain specifically designed for financial applications. It functions as an open, interoperable layer-one blockchain, capable of supporting advanced decentralized finance (DeFi) applications like decentralized exchanges, prediction markets, and lending protocols.
Injective offers core financial infrastructure primitives including a fully decentralized, MEV-resistant on-chain orderbook. It operates all financial markets, including spot, perpetual, futures and options, entirely on-chain. Its decentralized cross-chain bridge is compatible with Ethereum, IBC-enabled blockchains, and non-EVM chains like Solana.
The native token of Injective, INJ, serves various roles:
- Protocol Governance: INJ token holders participate in the network's unique governance model and can stake their tokens to secure the network and earn rewards. Additionally, governance involves a Decentralized Autonomous Organization (DAO) vote.
- dApp Value Capture: INJ can be used within the applications built on Injective.
- Proof-of-Stake (PoS) Security: INJ is used for staking, providing security to the network.
- Developer Incentives: INJ is used as rewards for developers who contribute to the network.
Before you stake INJ using Trust Wallet
Before we dive into how to stake INJ using Trust Wallet, you’ll need to create a wallet if you don’t already have one. Trust Wallet is available as a mobile app or you can get the Trust Wallet Extension for your desktop web browser. In this example, we’ll set up a new wallet using the Trust Wallet Mobile App.
Step 1: Download the latest version of the Trust Wallet App.
Step 2: Set up your new wallet
- Open the Trust Wallet app, and choose the option to ‘Create a new wallet.’
- Select an option to back up your wallet.
- Go through the instructions to start using your wallet.
Tip: If you already have a wallet that’s not Trust Wallet, you can choose to import that wallet. In this case, you’d choose the “I already have a wallet” option.
Step 3: Ensure you have INJ in your wallet
You’ll need INJ in your Trust Wallet before you stake it, so use the appropriate instructions below to get INJ into your wallet.
- Use these instructions to deposit INJ into your wallet.
How to stake INJ using Trust Wallet
To stake INJ, do the following:
- Select the “Earn” button from the main wallet page.
- Select “INJ Injective”.
- Select “Stake”.
- Choose the amount you want to stake and choose the validator you want to use by selecting the Validator dropdown.
- Once you choose a validator, then select “Continue”.
- Follow the remaining instructions to confirm your stake.
Frequently asked questions about staking INJ using Trust Wallet
How much do you earn staking INJ?
Staking rates may vary depending on the network, and the rate is not set or controlled by Trust Wallet. You can check the current rate anytime from within the app.
Note: Validators and delegators help secure the network through staking and will sometimes charge a commission for their services. This is neither controlled by Trust Wallet nor does Trust Wallet take any proportion of this commission.
What is the minimum amount to stake INJ?
The minimum stake amount is 0.000001 INJ.
What is the lockup period when I stake INJ?
The lockup period is 21 days.
Can I use my INJ while they are staked?
No, you won’t be able to use your tokens while they are staked/locked. Before you use your INJ tokens, you’ll need to unstake them.
How do I unstake INJ on Trust Wallet?
To unstake INJ, do the following:
- Go to ‘Earn’ from the main wallet page, choose INJ.
- Then choose Unstake and follow the instructions to confirm the unstaking process.
Note: You will not be able to withdraw your tokens while they are staked. If you want to withdraw your INJ, staked INJ takes 21 days to unstake. This is not something Trust Wallet controls.
How do I claim my rewards?
- Go to ‘Earn’ from the main wallet page, choose INJ.
- Select the option to claim rewards and follow the instructions.
What is the best wallet to stake INJ?
Many people wonder where the best place to stake INJ is. Trust Wallet is a great option because it allows you not only to stake your INJ to earn rewards directly with the protocol, but you can also claim your earned crypto directly within the wallet and store it safely.
Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.