How to Delegate your $AKT via Keplr, Cosmostation & Ledger wallets (full Ledger Guide) & Staking FAQ

A few words about AKASH Network

Purpose of AKASH Network

The market is currently in a state of oligopoly.

The principle behind The Unstoppable Cloud is a fully sovereign cloud infrastructure that cannot be challenged or taken down by adversaries and hackers.

Advantages of AKASH Network over centralised CSPs

  • Akash claims to be the world’s first decentralised cloud computing marketplace, leveraging 85% of under-utilised cloud capacity in 8.4 million data centres. Akash enables anyone to buy and sell unused compute;
  • Akash DeCloud claims to accelerate scale and price performance for DeFi, decentralised organisations, and high-growth industries like machine learning/AI;
  • Efficiency: With Akash you shall pay for what you need, when you need it;
  • Flexibility: Akash’s technology is compatible with all existing cloud applications;
  • Price Advantage: 10x lower in cost for developers; up to 4x more earnings for compute providers;
  • Security: Encryption at rest, run time, transit; web of trust model (PGP) through accreditation.

AKASH envisions a world where cloud computing is permissionless, sovereign, and open, where builders of the internet have greater freedom to improve the human experience.

Benefits & Advantages of Staking $AKT

  1. inflationary rewards;
  2. as mentioned previously, in the near future (expected 2022), rewards will include a share of the total network spend (Take Income) users pay!!

AKASH Network’s users will thus be directly benefited from real world adoption of the network. The rewards will not merely be inflationary but — on top — delegators will earn rewards from the income made from providing cloud services!!!

Whom is this guide for

Staking with Keplr wallet

Steps for delegating $AKT with Keplr

  • At first you need to have your Keplr extension installed on your Chrome browser.
  • You will then need to click on the extension and a window will pop-up;
  • Navigate to the $AKT wallet from the top drop-down menu (as more than one wallets are supported) and click on the blue Stake button;
  • Upon having a balance available your browser will automatically navigate to:
  • On that page you will see the following:
  • The above is a list of all validators with their details, voting power and commission;
  • You can review the validators and when ready to delegate, click on Manage;
  • Upon clicking you will see some more details about the validator including a small description and their website (on some like the one we selected randomly here)
  • Click on Delegate so that you delegate your tokens to the said validator;
  • On the example below you have 3 $AKT available to delegate; type the amount you wish to delegate on the box below the available balance and make sure you leave at least 0.1 $AKT for fees for delegating, voting on proposals or claiming rewards; Click on the blue Delegate button again;
  • A window will pop up asking you to set the fee. We would leave it on average and click on the Set Fee button;
  • Next a new window will pop up asking you to Approve the transaction;
  • Once the transaction is approved you are set!

Staking with Cosmostation wallet

Steps for delegating $AKT with Cosmostation

  • At first you need to navigate to your token’s wallet, in our case $AKT.
  • You will then need to press on Delegate.
  • Next on you get to the screen where you can choose your validator;
  • Press on the validator you want to delegate to;
  • On the next screen you can see details about the total amount of $AKT bonded with this delegator, the self bonded rate, the estimated APR and their commission. You can then press on Delegate;
  • On the next screen you decide how many $AKT you wish to delegate to the said validator and press Next;
  • Next on you can insert a memo although you are not required to do so and press next;
  • You can then approve your Transaction fee for the delegation and press Next;

Compounding Rewards with Cosmostation & Keplr

Using Ledger

  • Navigate to Cosmostation website on your browser at:
  • while your logged into your Ledger, navigate to the Cosmos app that needs to be installed on your Ledger click on the “Connect Wallet” option in the middle of the page;
  • This will get you to a screen where you can see an option on the top right with a drop-down menu (please note you may be given a link thus, if so, Copy the link it gives you about chrome experimental features and Paste into the address bar for your supported explorer);
  • Navigate to akashnet-1 so that you find the AKASH address corresponding to your Cosmos app. You will be able to see your $AKT address as per the image below.
  • This is the address where you can send $AKT on your Ledger device! You can send and receive tokens in that address.

Delegating/Staking with Ledger

  • Whole on your $AKT wallet on Ledger (you must have followed the instructions above):
  • Click on the option Reward
  • On the next page you will be able to choose the validator to whom you wish to delegate to!
  • Click on Delegate on your desired validator, specify amount while there is no need/obligation to put a memo unless you wish too.

FAQ on Staking

  • Do i have to claim my rewards or are they auto-claimed by my wallet?
  • What is meant by compounding?
  • How often should i claim my rewards?
  • How do i calculate my rewards?
  • What is meant by inflation and how does it affect my rewards?
  • Will the inflation be 50% forever?
  • But…but i am here for the fat rewards what happens when the inflation is 10%?
  • How long are my tokens locked in staking?
  • I want to get to another validator do i have to unlock my tokens?
  • What is the difference between “Commission rate”, “Max Rate” and “Max Change Rate”?
  • I need to learn more about staking is there a guide?

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A Cøsmos pleb.

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Johnnie Cosmos

Johnnie Cosmos

A Cøsmos pleb.

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