Introduction
Chain is a blockchain-based technology company on a mission to enable a smarter and more connected economy. The team builds cryptographic ledgers and cloud infrastructure that underpins transformative financial products and Web3 services. Chain Token ($XCN) is the native cryptocurrency and governance token of the Chain Protocol and Chain ecosystem of products. This tutorial will show you where you can buy $XCN and how to stake your tokens on the Chain network.
Step 1: Make sure you have a MetaMask wallet
MetaMask is one of the most popular self-custody wallets and offers users the ability to stake their tokens, use blockchain apps and manage multiple tokens in one wallet. You can download the MetaMask wallet here.
Step 2: Get yourself some $XCN tokens
Currently, you can purchase $XCN tokens on Coinbase, Kucoin, or using 1inch.
To get $XCN tokens using 1inch, navigate to 1inch and connect your MetaMask wallet. We will be using $ETH tokens to swap $XCN.
- Connect your MetaMask wallet
- Select ‘ETH’in the ‘from’ tab
- Select ‘XCN’ in the ‘to’ tab
- If you don’t see XCN there, you will need to import the contract address
- The contract address is 0xa2cd3d43c775978a96bdbf12d733d5a1ed94fb18
- Click ‘Confirm SWAP’
- Approve the transaction on MetaMask
- The $XCN will reflect in your MetaMask wallet
If you cannot see your $XCN in your wallet, you may need to import the token in MetaMask so that it can reflect under ‘Assets’. Follow the steps below to import $XCN into your wallet:
- Go to CoinGecko and copy the contract address for $XCN
- Open your MetaMask wallet, and make sure you are on the Ethereum Mainnet
- Click on ‘Assets’
- Click ‘Import tokens’
- Paste the contract address that you copied under ‘Token Contract Address’
- Type 0xa2cd3d43c775978a96bdbf12d733d5a1ed94fb18 under ‘Token Contract Address’
- Type ‘XCN’ under ‘Token Symbol’
- Type ‘18’ under ‘Token Decimal’
- Click ‘Add custom token’
Well done! Now you have $XCN tokens and can go to the staking portal to delegate your stake.
Step 3: Go to the $XCN staking portal and stake your coins
Go to the $XCN staking portal and connect your MetaMask wallet.
- Connect your MetaMask wallet
- Select how much $XCN you want to stake
- Click the ‘Approve’ button
- Approve the transaction on MetaMask
Wondering what the current staking APY is? Check it out on StakingRewards here. We also have other useful staking metrics for $XCN such as:
- Staking Marketcap
- Staking Ratio
- Number of stakers on the network
- Staking calculator
- Inflation rate
- Rewards per block
Conclusion
Chain is on a mission to enable a smarter and more connected economy. You can support their network by staking your $XCN tokens which contribute to decentralization, network security, and governance. Remember that staking is an essential part of a Proof-of-Stake (POS) blockchain and you can play your part in building the decentralized economy by staking your crypto. Check out StakingRewards.com for more tutorials and insights on staking.