Practical guide to staking & delegating
Before diving into some of the concepts such as staking and delegation, you may want to read through what these mean in our Learning site here:
Governance on cheqd is carried out through our Governance Dashboard. This can always be found at the link:
Image showing cheqd OmniFlix Dashboard
This dashboard enables Users to:
- 1.
- 2.View their available token balance
- 3.View the amount of tokens staked
- 4.View available rewards
- 5.View unstaked tokens
- 6.Make governance votes
This dashboard gives a holistic view of the tokens that Users hold at any point and where they are being used.
If you click the button "Connect" in the top right hand corner you will get a pop up, like the image below.
This will begin the process of "Auto-discovery":
Image showing Keplr autodiscovery
Click "Approve" and this will attempt to connect your Keplr Wallet to the Governance Dashboard. You will see it connected on the dashboard in the top right, and your cheqd address linked.
If you select cheqd on the dropdown menu in Keplr, you should be able to access your CHEQ in your Keplr wallet!
Image showing Keplr $CHEQ token balance
If you press the "Send" button on Keplr, you will be able to choose the cheqd wallet address you send your CHEQ to, and the specific amount of CHEQ:
Image showing how to send $CHEQ between addresses
The memo is a message that will appear for everyone on the blockchain, so please do not write personal data, or personally identifiable information in the memo field
On the dashboard you can either click "Stake Tokens" or click the tab in the right hand corner called "Stake".
Image showing cheqd Validators and staking mechanism
You will be able to see a list of all the Validators, their voting power and their associated commission rate.
Press the button "Delegate" on your desired Validating Node Operator.
Image showing Delegation capability
Enter the amount of tokens you want to delegate and choose your gas fee when the popup appears on Keplr.
And voila! You have now delegated to a Node Operator and staked your tokens.