MultiversX uses Secure Proof-of-Stake (SPoS) to support its blockchain. As with most PoS networks, validator nodes aggregate transactions into blocks, execute them, and maintain the latest state of the blockchain. The owners of these validator nodes, such as Blockdaemon, receive rewards for supporting and advancing the underlying blockchain infrastructure and security.

📘

Info!

To become a validator on the MultiversX network you need to stake at least 2,500 tokens. However, you can delegate lower amounts to an existing delegator.

By delegating with Blockdeamon, you get a share of the rewards without needing to run your own validator or stake 2,500 tokens.

• Min amount for delegation – 1 token
• Reward Frequency – every day
• Unstaking period – 10 days

Follow the steps below to stake MultiversX (EGLD) tokens:

📘

Note!

If you are interested in staking over 10,000 EGLD, please contact us to speak to someone from our team.

Step 1 – Set Up Your MultiversX Wallet

• Navigate to https://wallet.elrond.com/ and create or access your existing wallet.
• Make sure you are holding MultiversX tokens in this wallet. If not, you will need to transfer EGLD to this wallet.
• Once you access your wallet, on the left-hand side menu, navigate to ‘Stake’.
• On the right-hand corner, click ‘Stake Now’.

Step 2 – Select Blockdaemon as Your Validator

• Under ‘Choose a Staking Service Provider’ search for 'Blockdaemon'.
• Select ‘Blockdaemon’ and click 'Continue'.
• Input the amount of EGLD you wish to stake.

You can also check out our How to Stake MultiversX video walkthrough.

Interested in running your own MultiversX Validator? Send us a message to get started.