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, 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.