How to Stake Terra Classic (LUNC) and Earn Rewards using Trust Wallet

Trust Wallet, available as a mobile app and Chrome Extension, is a simple-to-use, self-custody crypto wallet and gateway to Web3 for people who want to fully own, control, and leverage the power of their digital assets. Trust Wallet allows you to store and manage your crypto and NFTs, buy, sell, and stake crypto to earn rewards, access dApps securely and much more—all in one place. Additionally, features like the Trust Wallet Security Scanner help to keep your entire Web3 experience safe.

In this guide, we’ll focus on the staking feature, and specifically how to stake LUNC.

Key details for staking LUNC using Trust Wallet

• Minimum amount required for staking: 0.01 LUNC

• Lockup period for staking: 21 days

• Staking yield (APR): Please see rates listed in the ‘Earn’ section of the Trust Wallet app.

Trust Wallet does not control the minimum amount, lockup period, or staking rate.

What is staking?

Staking is a method of supporting a proof-of-stake (PoS) or a delegated proof-of-stake (dPoS) blockchain network by holding and "staking" a specific cryptocurrency. This activity contributes to various functions within the network such as transaction validation, upholding the network's security, and refreshing the blockchain. In return for their staking commitment, participants can earn staking returns, somewhat like earning interest in a traditional banking system.

What is Terra Classic (LUNC)?

Terra Classic (LUNC) is the rebranded version of the original Terra blockchain protocol, after the launch of a new chain in May 2022, named Terra (LUNA). Terra is known for using fiat-pegged stablecoins for stable global payments. Work on it began in 2018 and it officially launched in 2019, offering stablecoins linked to various fiat currencies. Post-rebranding, the original Terra token (LUNA) became LUNA Classic (LUNC), and all network stablecoins were renamed to Terra Classic stablecoins. LUNC holders participate in the network's unique governance model and can stake their tokens to secure the network and earn rewards.

Before you stake LUNC using Trust Wallet

Before we dive into how to stake LUNC using Trust Wallet, you’ll need to create a wallet if you don’t already have one. Trust Wallet is available as a mobile app or you can get the Trust Wallet Extension for your desktop web browser. In this example, we’ll set up a new wallet using the Trust Wallet Mobile App.

Step 1: Download the latest version of the Trust Wallet App.

Step 2: Set up your new wallet

• Open the Trust Wallet app, and choose the option to ‘Create a new wallet.’

• Select an option to back up your wallet.

• Go through the instructions to start using your wallet.

Tip: If you already have a wallet that’s not Trust Wallet, you can choose to import that wallet. In this case, you’d choose the “I already have a wallet” option.

Step 3: Ensure you have LUNC in your wallet

You’ll need LUNC in your Trust Wallet before you stake it, so use the appropriate instructions below to get LUNC into your wallet.

• Use these instructions to deposit LUNC into your wallet.

How to stake LUNC using Trust Wallet

To stake LUNC, do the following:

• Select the “Earn” button from the main wallet page.

• Select “LUNC Terra Classic”.

• 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, then select “Continue”.

• Follow the remaining instructions to confirm your stake.

Frequently asked questions about staking LUNC using Trust Wallet

How much do you earn staking LUNC?

Staking rates may vary depending on the network, and the rate is not set or controlled by Trust Wallet. You can check the current rate anytime from within the app.

Note: Validators and delegators help secure the network through staking and will sometimes charge a commission for their services. This is neither controlled by Trust Wallet nor does Trust Wallet take any proportion of this commission.

What is the minimum amount to stake LUNC?

The minimum stake amount is 0.01 LUNC.

What is the lockup period when I stake LUNC?

The lockup period is 21 days.

How do I unstake LUNC on Trust Wallet?

To unstake LUNC, do the following:

• Go to ‘Earn’ from the main wallet page, and choose LUNC.

• Then choose Unstake and follow the instructions to confirm the unstaking process.

How do I claim my rewards?

• Go to ‘Earn’ from the main wallet page, and choose LUNC.

• Select the appropriate option to claim your rewards.

What is the best wallet to stake LUNC?

Many people wonder where the best place to stake LUNC is. Trust Wallet is a great option because it allows you not only to stake your LUNC to earn rewards directly with the protocol, but you can also claim your earned crypto directly within the wallet and store it safely.

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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.