What is Ankr?
Ankr is a decentralized blockchain infrastructure provider that operates globally-distributed nodes across more than 50 PoS networks. Ankr combined developer infrastructure (full nodes) with staking infrastructure (validator nodes) as the growth of various PoS blockchains necessitates a strong focus on security. Ankr aims to serve the vast needs for increased node infrastructure necessary to develop and operate dApps on PoS blockchains.
The token that powers the network is ANKR and it is used for paying for Ankr Network Premium Plans under a pay-as-yougo model, paying collateral deposits (self stake) required to become a node provider, incentivizing node providers for serving network traffic and incentivizing ANKR token stakers for helping to secure Ankr Network, providing a means of payment for independent node auditors, as well as voting on proposals in the Ankr DAO. This tutorial will show you how to stake your ANKR tokens on the Ankr Staking Dashboard.
- View the current ANKR staking APR here
- Use the ANKR Staking Calculator to estimate your rewards
- Lockup: 84 to 91 days
- Minimum amount required for staking: 1,000 ANKR
- Estimated time needed to stake your ANKR in your wallet: 1 – 2 minutes
- Recommended Ankr staking wallet: Metamask
- Steps to stake:
- Go to ANKR Staking Portal and connect your wallet
- Select validators
- Enter the amount of stake
- Confirm and happy staking 🤘
Where to buy ANKR
You can get ANKR tokens at a cryptocurrency exchange, at a DEX, or within select wallets. You should always do your own research when selecting a reputable cryptocurrency exchange. For best security, it is not recommended to leave your tokens on an exchange, but transfer them to your non-custodial or cold/hardware wallet after procuring them.
Ankr has a variety of non-custodial wallets for you to choose from. We recommend that you use a hardware wallet such as Ledger otherwise we suggest using Metamask wallet. Compatible wallets include:
- Ledger (through Metamask)
- Trust wallet
- Huobi Wallet
- Math Wallet
- OKX (doesn’t support Gnosis network)
How to connect Ankr to Metamask
At the bottom of your Metamask wallet interface, click on ‘import tokens’. Then paste the Ankr token contract address on Ethereum (0x8290333ceF9e6D528dD5618Fb97a76f268f3EDD4), input the token symbol and decimal as follows. Press ‘Add custom token’ and then ‘import tokens’.
Selecting Ankr validators
Please refer to the FAQ section titled ‘How do I choose Ankr validators (node providers)’’ on this page when selecting Ankr validators. Also, you may want to utilize our criteria for verifying providers through the Staking Rewards Verified Staking Provider (VSP) Program.
How Staking Rewards for ANKR are Generated
Learn how rewards are generated in the FAQ section titled ‘How are the rewards generated’’ here.
How to stake ANKR
Step 1: Make sure you have Chrome and Metamask Wallet Extension
Meatask wallet is a popular self-custody wallet for storing ERC-20 tokens and offers users the ability to stake their tokens, use blockchain apps and manage multiple tokens in one wallet. You can install the Metamask Wallet Extension here. You can swap other tokens, e.g. ETH and USDT, to ANKR here.
Step 2: Navigate to the Ankr Staking Dashboard
Go to the Ankr Staking Dashboard and connect to your Metamask Wallet by clicking on “Connect Wallet”.
Step 3: Click the ‘Stake’ button
After you’ve connected to your wallet, click on ‘Go to Staking’, hover on the Ankr interface and you will see a ‘Stake’ button, click on it.
Step 4: Enter the stake amount and select a validator
You will now be shown an interface for you to enter the amount of ANKR tokens you would like to stake, and choose a node provider (currently only Ankr is available).
Step 5: Finalize the staking process
Finalize by clicking ‘Approve’ and confirming the access approval in MetaMask. After it’s been approved, click ‘Stake’ to send your delegated stake to the chosen node provider, and confirm the transaction in Metamask.
Staking is essential to Proof-of-Stake blockchains and comes with many benefits for investors and the network:
- Investors earn yield from token emissions and/or transaction fees.
- Stakers become eligible for airdrops as many networks prioritize granting these benefits to them.
- Staking helps to decentralize the network.
- A higher staked balance enhances network security.
- Stakers can participate in governance, as many PoS networks allocate governance rights based on the amount of tokens staked.
Congratulations! You are now not only getting the most out of your investment with compounded returns. YOU are also (in-)directly contributing to the decentralization, and the network security of Ankr and thus contributing to the long-term success of your investment! Ankr needs active stakers like you to become successful long-term.
Now share the tutorial with your friends so they can get to start staking as well!