Simply Staking DROP Liquid Staking Guide
DROP is a new Liquid-Staking Platform built on-top of Neutron, with the aim of unlocking liquidity within the Interchain. DROP is part of and backed by the LIDO-Alliance.
We at Simply Staking have been chosen as one of the Validators that enables users to Liquid Stake their ATOM for dATOMs. This guide will give you early access to the network as well as an easy-to-follow run-through of the entire process.
Getting Started on DROP
To begin using DROP, head over to their site: https://app.drop.money/stake
Since this is an invite-only environment, for the time being you need a special referral code. Luckily we at Simply Staking have got a code for our users to benefit from.
Inside of the prompt box enter the code SMPLYSTK and click the arrow to the right of the box.
Alternatively, you can use the referral link to bypass this step: https://app.drop.money/dashboard?referral_code=SMPLYSTK
Now you are successfully invited to the Drop platform using our referral link. You can proceed to ‘Connect Wallet’ as shown in the image below. Here, you are given the choice of the most popular wallets within the Interchain.
To proceed, please choose your preferred wallet. For this tutorial we have chosen Keplr as our wallet however, the process is the same across the board.
Staking on DROP
Once you are connected you will be brought to the main staking page whereby you will be able to stake ATOM to dATOM in a 3-Step process.
Step 1: Deciding how much you wish to stake
Once you have decided on the amount you wish you stake, make sure to click on the ‘Continue’ button at the bottom.
Step 2: Reviewing and Confirming your decision
This step is fairly simple and quick. Once you have confirmed that is how much you wish to stake, click on ‘Confirm’.
Step 3: Approving the Transaction
In this step you will be asked to Approve the transaction (TX) through your connected wallet (in this example: Keplr). Once the pop-up is received, click on ‘Approve’ and sign the TX.
Once signed, the smart-contract on DROP will Stake the ATOM, convert it to dATOM and put the latter into your wallet.
Voila! All is done! As you can see, Staking your ATOM on DROP is a very simple process.
Droplets
By staking your ATOM, you will start earning Droplets. For more on Droplets, we recommend you read the FAQ on their website.
Droplets will be accumulated (and useful for the upcoming airdrop).
There are many ways in which one can increase the boost that they receive by following the steps shown below (these can be found on DROP’s website).
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.
