Introduction
Axelar staking allows users to delegate their AXL tokens to validators who secure the Axelar network, earning rewards in return. By staking, participants contribute to the network’s security and decentralisation while receiving staking yields. This guide will walk you through the step-by-step process of staking your AXL tokens on Axelar, from connecting your wallet to selecting a validator and viewing your rewards.
Buy AXL Token
To stake AXL on Axelar, you’ll first need to purchase AXL tokens. A straightforward way to acquire AXL is through our Binance link, where you’ll receive a $600 USD welcome offer. Navigate to the “Markets” section and search for AXL. Once you’ve located the AXL pair, purchase the amount you desire.
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After buying AXL, transfer it off the exchange by following these steps:
- Navigate to the “Wallet” section in Binance.
- Select “Withdraw” and choose AXL as the token.
- Enter your Axelar wallet address (you can find it within your wallet once connected to the AXL portal).
- Set the withdrawal amount and confirm the transaction.
Now that your AXL tokens are safely transferred, you’re ready to start staking.
Staking AXL From Simply's Dashboard
First, navigate to our landing page at simplystaking.com and hit the “Stake” button below the Berachain banner.
Choose The Network & Connect Your Wallet
After you choose “Stake”, you will be directed to our multi-chain staking dashboard, where you can choose your desired network (in this case Axelar) and connect your pre-funded wallet by clicking “Connect Wallet”.
You should be presented with the choice of wallets, after which you should approve the connection between your wallet and the staking interface. The described step is shown below:
Time To Stake
After you are connected, you will see an intuitive dashboard covering how much AXL is under your control called “Total”, the amount of AXL you can access under the “Available” section, as well as “Staked” – showing the amount of AXL you have already staked with us. Last but not least, the “Claimable” box is where your rewards are accrued which you can withdraw at any time.
The next step is to hit the “Delegate” button and choose the amount of AXL you want to delegate to us. Just like in the picture below.
Finally, click “Approve” and relax, your AXL now joins thousands of other assets, all securely managed by Simply for years with zero downtime!
Staking AXL From Keplr Wallet
To stake directly from your Keplr wallet, access the Keplr dashboard and navigate to the “Stake” section.
In this section, Choose Axelar from the assets drop-down list.
Afterwards, choose a validator, hopefully, it will be us – “Simply Staking”
Choosing Amount & Staking
Once you choose the validator, the staking module will pop up on your right-hand side. Click “Stake” to choose the amount you want to delegate.
Once you click “Stake” choose the number of AXL you want to stake under the “Amount to Stake” box and hit “Stake” again!
Approve and Check
As usual, approve your transaction from your wallet to finalize the staking process!
After approval, you can see the stakeable value of your AXL as well as the amount you have staked under the “Total Available Value” & “Total Staking Value” respectively.
Moving Funds to a Ledger Wallet
If you ever wish to unstake your AXL and store it securely, you can easily transfer your assets to a Ledger wallet. Simply follow the unstaking process and move your tokens to Ledger for safe offline storage!
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About Simply Staking
We are a Blockchain Services Provider who operates Validators and Nodes on over 30 Networks with over $1 Billion in Assets Staked. Our journey started in 2018, with Simply entering the Cosmos Hub Testnets, and now have expanded our operations to most major ecosystems including networks such as LIDO, Polygon, EigenLayer, Oasis Network, Cosmos Hub, Polkadot, and many more, all while being an Oracle Operator on Chainlink.
We offer additional services such as Nodes-As-A-Service (RPCs), Blockchain Development work, Tooling, Governance Services as well as Blockchain Consultancy Services.
More Information on our offerings can be found on our website.
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This article is provided for informational purposes only and is not intended as investment advice. Investing in cryptocurrencies carries significant risks and is highly speculative. The opinions and analyses presented do not reflect the official stance of any company or entity. We strongly advise consulting with a qualified financial professional before making any investment decisions. The author and publisher assume no liability for any actions taken based on the content of this article. Always conduct your own due diligence before investing.
