nym/explorer-v2/src/data/staking-guide.json

{
  "id": 2,
  "title": "How to Get and Stake NYM Tokens",
  "label": "Onboarding",
  "description": "This guide is a step-by-step walk-through of the complete journey of acquiring NYM tokens and staking them to Nym Nodes to earn rewards - all in a few simple steps.",
  "attributes": {
    "blogAuthors": ["Nym"],
    "date": "Mon Jan 05 2025 10:26:09 GMT+0000 (Greenwich Mean Time)",
    "readingTime": 5
  },
  "iconLight": "stakeCard",
  "iconDark": "stakeCardDark",
  "image": "/explorer/images/stake-article.webp",
  "link": "https://nym.com/blog/stake-Nym-tokens",
  "overview": {
    "content": [
      {
        "type": "paragraph",
        "text": "The Nym network consists of Nym nodes that protect internet privacy by obfuscating traffic patterns to defend against AI surveillance. When you stake NYM tokens on a mix node: \n\n - You help increase that node's reputation in the network\n\n - The node becomes more likely to be selected for mixing and routing traffic\n\n - You earn a share of the rewards when the node performs its privacy-preserving work"
      }
    ],
    "image": "https://nymtech.net/api/uploads/presentation-poster?w=3840&q=75"
  },
  "sections": [
    {
      "id": "section-1",
      "heading": "Prerequisites",
      "text": [
        {
          "type": "paragraph",
          "text": "A browser that supports Keplr wallet (like Firefox or Chrome) and Keplr mobile wallet app installed on your phone or browser."
        }
      ]
    },
    {
      "id": "section-2",
      "heading": "Acquiring native NYM tokens",
      "text": [
        {
          "type": "paragraph",
          "text": "There are three ways to get NYM tokens:"
        },
        {
          "type": "paragraph",
          "text": "1) Participate in the Nym community and earn rewards by completing simple tasks like translations, helping in channels and other good things that the community needs!"
        },

        {
          "type": "paragraph",
          "text": "2) Buy NYMs on an exchange (if you want to stake, make sure they are ‘native’ NYM tokens on the Nyx chain, not on Ethereum! Bitfinex and Kraken offer native NYM currently)."
        },
        {
          "type": "paragraph",
          "text": "3) Swap on a DEX (decentralized exchange). If you already have other crypto tokens and are able to use decentralized exchanges, you'll find both NYM native and ERC-20 pools on major DEXs."
        },
        {
          "type": "paragraph",
          "text": "- [Join Nym community here to start earning NYM tokens.](https://nym.com/community)"
        }
      ]
    },
    {
      "id": "section-3",
      "heading": "Setting up Keplr wallet",
      "text": [
        {
          "type": "paragraph",
          "text": "1) Download and install the [Keplr](https://www.keplr.app/get) mobile app."
        },
        {
          "type": "paragraph",
          "text": "2) Create a new wallet or import your existing one using your seed phrase"
        },
        {
          "type": "paragraph",
          "text": "3) Add the ‘Nyx’ chain, by opening the buil-in browser in your Keplr and visiting [chains.keplr.app](https://chains.keplr.app/) to add the Nyx chain."
        }
      ]
    },
    {
      "id": "section-4",
      "heading": "Connect and login with Keplr to the explorer",
      "text": [
        {
          "type": "paragraph",
          "text": "1) Connect your Keplr wallet to the explorer if you use the extension wallet."
        },
        {
          "type": "paragraph",
          "text": "2) If you used a mobile wallet, you can use the built in browser of Keplr to connet by navigating from there to [nym.com/explorer](htts://nym.com/explorer) and logging in."
        }
      ]
    },
    {
      "id": "section-5",
      "heading": "Browse nodes and stake!",
      "text": [
        {
          "type": "paragraph",
          "text": "1) Browse Nym nodes in the explorer and look for: \n\n - Nodes with high routing scores (close to 100%) \n\n - Check for lower operating costs/margins for better rewards \n\n - Ensure the node isn't over-saturated (below 100%)"
        },
        {
          "type": "paragraph",
          "text": "2) Click the 'Stake' button next to your chosen node"
        },
        {
          "type": "paragraph",
          "text": "3) Enter the amount you wish to stake and confirm the transaction in your Keplr wallet"
        }
      ]
    },
    {
      "id": "section-6",
      "heading": "And some important things to keep in mind",
      "text": [
        {
          "type": "paragraph",
          "text": "- New delegations and un-delegations take effect in the next epoch, so you maximum have to wait 1 hour  \n\n - Staking rewards auto-compound, so any rewards automatically get added to your existing stake without having to do any extra steps  \n\n - Always keep some NYM tokens un-staked for transaction fees  \n\n - Always keep your mnemonic (24 word access code) in a safe place and never share it with anyone!"
        }
      ]
    }
  ]
}