Staking
If you hold the staking token "UM" you can delegate, or stake, those tokens to a validator. This enables you to receive rewards and participate in governance in exchange for taking on the risk of validator misbehavior.
To stake with Prax, follow these steps:
- First ensure you hold the Penumbra protocol's staking token 'UM'.
- Next, select the 'Stake' tab on your frontend.
- On the 'Stake' tab, you can see how much 'UM' you have available to delegate, along with a list of possible validators.
For each validator, you will see some important data:
- 'VP': the voting power of the validator in the governance system,
- 'Com': the commission rate that validator takes.
Once you select a validator to stake with, you can click the 'Delegate' button.
Select how much 'UM' you wish to delegate, then press 'Delegate':
It will take a few moments for the delegation transaction to be prepared, then Prax will generate a view of your transaction. Verify one of the outputs is to the validator you selected, then click 'Approve':
You should see a pop-up in the lower right hand of the page indicating that the transaction was approved!
You will receive the delegation token associated with that validator. At a later point, you can undelegate by clicking the 'Undelegate' button to undelegate from that validator, and receive staking tokens.