How to Stake Stride (STRD) 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 STRD.
Key details for staking STRD using Trust Wallet
- Minimum amount required for staking: None
- Lockup period for staking: 14 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 Stride (STRD)?
Stride is a multichain liquid staking zone, or appchain, operating on the Cosmos Blockchain. It provides a unique service that allows users to stake any IBC-compatible tokens, granting them stTokens in return. These stTokens maintain a 1:1 redeemable ratio with the original tokens, preserving the staked value. Stride's framework empowers users to earn staking rewards while maintaining liquidity through stTokens, enabling further engagement with Cosmos DeFi to explore additional yields.
The Stride Token, as the native governance token of the Stride Zone, plays a vital role in the ecosystem. It facilitates community participation in key decisions, such as validator distribution, new validator onboarding, and protocol enhancements.STRD token holders participate in the network's governance model and can stake their tokens to secure the network and earn rewards.
Before you stake STRD using Trust Wallet
Before we dive into how to stake STRD 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 STRD in your wallet
You’ll need STRD in your Trust Wallet before you stake it, so use the appropriate instructions below to get STRD into your wallet.
- Use these instructions to deposit STRD into your wallet.
How to stake STRD using Trust Wallet
To stake STRD, do the following:
- Select the “Earn” button from the main wallet page.
- Select “STRD Stride”.
- 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 STRD using Trust Wallet
How much do you earn staking STRD?
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 STRD?
The minimum stake amount is: None
When do I start receiving rewards when I stake STRD?
The time to your first reward is: Immediately.
What is the reward frequency when I stake STRD?
With each block.
What’s the minimum reward amount in order to claim?
Are my STRD staking rewards automatically restaked?
What is the lockup period when I stake STRD?
The lockup period is 14 days.
Can I use my STRD while they are staked?
No, you won’t be able to use your tokens while they are staked/locked. Before you use your STRD tokens, you’ll need to unstake them.
How do I unstake STRD on Trust Wallet?
To unstake STRD, do the following:
- Go to ‘Earn’ from the main wallet page, choose STRD.
- 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 STRD, staked STRD takes 14 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 STRD.
- Select the option to claim rewards and follow the instructions.
What is the best wallet to stake STRD?
Many people wonder where the best place to stake STRD is. Trust Wallet is a great option because it allows you not only to stake your STRD 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.