Staking
How to Stake Axelar (AXL) and Earn Rewards Using Trust Wallet
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In Brief
Stake AXL using Trust Wallet with this step-by-step guide. Learn how to stake AXL, manage rewards, and maximize your earnings easily and securely.
Staking AXL enables you to earn rewards while supporting the network’s security and growth. AXL is the native cryptocurrency of the Axelar network. When you stake your AXL, you contribute to the stability of the Axelar platform and earn rewards for your participation. Trust Wallet provides a secure and user-friendly platform to manage your AXL staking activities, making the process accessible to everyone.
This guide will walk you through the entire process of how to stake AXL using Trust Wallet. From downloading Trust Wallet, to managing your staked tokens, you’ll find everything you need in this guide to stake Axelar.
Before You Get Started
Remember that you can use Trust Wallet as your secure crypto wallet. Buy, sell, swap and stake crypto all in one place.
Trust Wallet also lets you manage and interact with 10M+ crypto assets across 100+ blockchains. Download the latest version of Trust Wallet today.
What is Axelar?
Axelar (AXL) is a decentralized blockchain interoperability platform that enables seamless communication and data exchange across blockchain ecosystems. Axelar bridges the connectivity gap among blockchains, enabling developers to create decentralized applications (dApps) that can operate across multiple chains without the need for complex integrations or multiple wallets. Axelar supports smart contracts at the cross-chain layer, enabling developers to build complex interchain applications that can execute commands across different blockchains.
Use Cases of Axelar
Cross-Chain DeFi applications: Axelar enables decentralized finance applications to use assets from multiple blockchains, enabling more robust liquidity and trading options.
NFT transactions: Developers can use Axelar to mint NFTs across different blockchains, enabling the creation and trading of digital assets without being confined to a single blockchain environment.
Gaming and multi-chain interactions: Axelar enables users to engage in gaming experiences that span multiple blockchains. Players can use assets from different networks without needing to manage multiple wallets or wrapped tokens.
Simplified user experience: Axelar provides a user-friendly experience where users can interact with various blockchains without holding the native tokens of each chain.
Turing-complete interchain network: Axelar's architecture supports a Turing-complete virtual machine, enabling it to automate complex interchain tasks and manage dApp deployments across multiple blockchains simultaneously.
What is AXL Staking?
When you stake your AXL, you lock up your AXL tokens in the Axelar network to support its operations and security, in exchange for earning rewards. Staking is fundamental to maintaining the network’s performance and decentralization. When you stake Axelar, your tokens are delegated to validators who help process transactions and secure the network.
In return for staking your AXL, you receive a portion of the network’s rewards. These rewards are distributed based on the amount of AXL you stake and the performance of the validator you choose. When you participate in AXL staking, you earn rewards and contribute to the overall health and stability of the Axelar platform.
Staking AXL through Trust Wallet simplifies this process, offering an easy-to-use interface that allows you to manage your staking activities directly from your mobile device. With Trust Wallet, you can easily delegate your AXL tokens, monitor your staking rewards, and make adjustments as needed - all from a secure and convenient platform.
Why Choose Trust Wallet for Staking AXL?
Trust Wallet is an excellent choice for staking AXL. Trust Wallet has a user-friendly interface, robust security, and convenient features. The app’s clean, intuitive design makes it easy for both beginners and experienced users to stake AXL efficiently.
Trust Wallet is a non-custodial wallet, so you maintain full control over your private keys and AXL tokens, ensuring that your assets are always secure and under your ownership. Security is a top priority, with advanced encryption and regular updates to protect your sensitive information. Staking features are seamlessly integrated into the app. You can manage your AXL staking, monitor rewards, and select validators with ease.
Trust Wallet supports a wide range of cryptocurrencies, enabling you to manage all your digital assets from one platform. With an active community and responsive customer support, Trust Wallet provides a reliable and comprehensive solution for maximizing your AXL staking rewards.
Key Details for Staking AXL Using Trust Wallet
Before you start staking AXL with Trust Wallet, it’s important to understand a few key details:
Minimum amount to stake AXL: To begin staking AXL, you need a minimum of 0.00000001 AXL. This ensures that even small amounts can be staked, making staking accessible to a wide range of users.
Lockup period: When you stake AXL, your tokens will be locked for 21 days. During this lockup period, your staked AXL cannot be accessed or transferred. It’s essential to consider this when planning your staking strategy.
Staking rewards: Rewards for staking AXL are distributed periodically. You can track your rewards directly in the Trust Wallet app. The rate of return on your staked AXL will depend on the validator you choose and overall network performance.
Validator commission: Validators help secure the network and may charge a commission for their services. This commission is not controlled by Trust Wallet and is taken from your staking rewards. It’s important to select a validator with favorable terms to maximize your earnings.
Understanding these details will help you make informed decisions about your AXL staking strategy and ensure a smooth staking experience with Trust Wallet.
How to Stake AXL Using Trust Wallet
Before you stake, be sure that you have the most up-to-date version of Trust Wallet.
Next, if you don’t have any AXL in your wallet, you can deposit crypto using the “Receive” button, or buy crypto directly using Trust Wallet.
Now you’re ready to stake and earn rewards. Staking can be done in just a few steps, and here’s how.
Note: Below we’ll use staking AXL as the example, but the process is generally the same for each asset.
Select the “Earn” button from the wallet home screen.
Select the asset you want to stake, in this example it’s “AXL.”
Select “Stake.”
Choose the amount you want to stake, and choose the validator you want to use by selecting the Validator dropdown.
Once you choose a validator, select “Continue.”
Follow the remaining instructions to confirm your stake.
How to Unstake AXL in Trust Wallet
If you would like to unstake your AXL, simply follow the steps below:
Navigate to ‘Earn’ on the main wallet page and select AXL.
Choose the Unstake option and proceed as per the given instructions.
Note: You will not be able to withdraw your tokens while they are staked. If you want to withdraw your AXL, staked AXL takes 21 days to unstake. This is not something Trust Wallet controls.
In addition to staking crypto, Trust Wallet lets you manage and interact with 10M+ crypto assets across 100+ blockchains. Download the latest version of Trust Wallet today.
Closing Thoughts
Staking AXL with Trust Wallet offers a simple way to earn rewards while supporting the stability of the Axelar network. By following this guide, you can easily navigate the staking process, manage your rewards, and optimize your staking strategy. Trust Wallet’s user-friendly interface, combined with its strong security features, makes it an ideal platform for both novice and experienced stakers.
With a clear understanding of the minimum staking requirements, lockup periods, and potential rewards, you are well-equipped to make the most of your AXL staking experience.
Disclaimer: Content is for informational purposes and not investment advice. Web3 and crypto come with risk. Please do your own research with respect to interacting with any Web3 applications or crypto assets. View our terms of service.
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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.