How to Delegate Avax ?
How To delegate your AVAX and earn up to 10% yearly in staking rewards
Last updated
How To delegate your AVAX and earn up to 10% yearly in staking rewards
Last updated
The X-chain acts as a decentralized platform for creating and trading smart digital assets. (Think X for exchanging assets). Another chain inherent to the Avalanche network is the P-Chain, which manages metadata about the Avalanche network. (P stands for platform).
As an AVAX presale participant, you will receive your tokens in your P address (90% of option A1 or option A2) and/or X-Chain address (Option B and 10% of your tokens if you purchased option A1 or A2).
An X address is an address created on X-Chain, the main asset chain on the Avalanche network. Tokens held in X addresses are liquid, meaning that they can be freely transferred to other X addresses and to P addresses.
P addresses are addresses created on P-Chain, the platform chain on the Avalanche network. Tokens held in P addresses may be liquid, meaning that you may not be able to move those tokens freely to your X address. You also cannot move your tokens from one P address to another directly, but you need to transfer the tokens to an X address first.AVAX held in P addresses may be vested (locked) (from the genesis allocation on mainnet) or staked (via validation with a full node, or delegation). This guide will help you get through the delegation of your AVAX tokens to a validator, helping you choose which is best for you.
The first step is to, obviously, access your AVAX Wallet. You can access it from here.
If you have not created wallet yet please follow the step-by-step creation by clicking on the 'CREATE NEW WALLET' button.:
Most users have received 90% of AVAX purchased in the P address. if you're one of them and you want to only delegate your locked AVAX, you can simply skip this step. If you also want to delegate your unlocked AVAX, you can proceed here to transfer them to P as well.
To stake AVAX (by validating with your node or delegating another node in your place), you need to first transfer the amount of AVAX you want to stake to P-Chain.
Click 'Earn' on the right sidebar, and then click the 'TRANSFER' button.
Make sure you transfer the amount you want to stake plus 0.001 AVAX, that is the fee that you will pay to do the transfer between the chains. Click again on 'TRANSFER' to confirm. And keep in mind that the minimum amount to stake in delegation is 25 AVAX, so make sure you transfer at least 25.001 AVAX from X to P.
Now that you have your AVAX in your P-Chain address, you're ready to stake by delegating!
Return to the 'Earn' page, then click on 'ADD DELEGATOR'.
You will be presented with a list of validators ordered by the total amount staked.
Choose your validator eg
You're then presented with the delegate page. You can choose the staking period (remember: you cannot stake longer that your validator's), the amount that you want to delegate in stake and specify the reward address, if you don't want to receive rewards on the same address from which you're staking
When you've entered all the information, you can just press 'CONFIRM' to confirm the data you input, and then 'SUBMIT' to confirm the delegation.
You're all set, now you're delegating!
