Introduction
Oasis staking allows users to delegate their ROSE tokens to collators who secure the Oaisis 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 ROSE, from connecting your wallet to selecting a validator and viewing your rewards.
Staking ROSE from Simply’s Dashboard
First, navigate to our landing page at simplystaking.com and hit the “Networks” button below the Berachain banner.
Choose The Network
After you choose “Networks”, you will be directed to a page displaying all our networks. Here, you can choose the chain you want to stake on (in this case Oasis).
Hit the “Stake” button under the “Oasis” title, and be directed to Oasis Scan. Here, you can check the validator’s details, for example, Simply Staking offers a 15% commission rate and operates on paratimes such as CIpher, Emerald and Sapphire.
Wallet Setup
Once you choose a validator, go to https://wallet.oasis.io/ to set up your wallet.
As a first step, click the “Create new wallet” button located at the right side of your screen:
Be sure to save your mnemonic phrase in a safe and secure place, and remember, never share your keys!
Once you secure all 24 words, click the “Import my wallet” button and confirm your mnemonic phrase once again.
Last but not least, choose the accounts you wish to open – you can open a maximum of 36 accounts per wallet. This means that under one wallet, you can have up to 376 addresses where your soe can be stored, sent to and transacted from. For this guide, we will go with one account.
You can also choose “Create a profile” so that for the next login, you can easily access your wallet with a password instead of typing the mnemonic phrase.
As a final output, you should be displayed with a wallet address, associated QR code, and the number of ROSE staked and available for use.
Now that your ROSE wallet is set up, let us show you how to fund it before you stake it!
Buy Rose Token
A straightforward way to acquire ROSE is through our Binance link, where you’ll receive a USD 600 welcome offer. Navigate to the “Markets” section and search for ROSE. Once you’ve located the ROSE, purchase the amount you desire.
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After buying ROSE, transfer it off the exchange by following these steps:
- Navigate to the “Wallet” section in Binance.
- Select “Withdraw” and choose ROSE as the token.
- Enter your ROSE wallet address.
- Set the withdrawal amount and confirm the transaction.
Congrats! Now you should have some ROSE in your wallet and are ready for staking!
Stake your Rose
To start staking, hit the “Stake Rose” button on the left end of the screen:
Now, you can review the list of validators and choose the one you wish to stake with. We will go with “Simply Staking”.
After you choose the validator, the UI will display Validator’s details, including the “Total escrow“ (total amount of ROSE delegated) and “Commission” (the yield available on deposited ROSE).
Choose the amount of ROSE you wish to delegate and click the “Delegate” button!
That’s it! You will now be earning ROSE rewards!
Moving Funds to a Ledger Wallet
If you ever wish to unstake your Rose and store them 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.
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