Introduction
Akropolis is the one-stop solution for any investor seeking access to passive, efficient and sustainable yield generation. The project is on a mission is to give everyone the tools to save and grow their investments without a dependence on centralized counterparties. $AKRO is the native governance token which can be staked to receive a share of the protocol revenue and additional $AKRO emissions. This tutorial will show you where you can buy $AKRO and how to stake your tokens on the Akro 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 $AKRO tokens
Currently, you can purchase $AKRO tokens on Binance, Kucoin or using 1inch.
To get $AKRO tokens using 1inch, navigate to 1inch and connect your MetaMask wallet. We will be using $ETH tokens to swap to $AKRO.
- Connect your MetaMask wallet
- Select ‘ETH’in the ‘from’ tab
- Select ‘AKRO’ in the ‘to’ tab
- If you don’t see AKRO there, you will need to import the contract address
- The contract address is 0x8ab7404063ec4dbcfd4598215992dc3f8ec853d7
- Click ‘Confirm SWAP’
- Approve the transaction on MetaMask
- The $AKRO will reflect in your MetaMask wallet
If you cannot see your $AKRO 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 $AKRO into your wallet:
- Go to CoinGecko and copy the contract address for $AKRO
- Open your MetaMask wallet, 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 ‘AKRO’ under ‘Token Symbol’
- Type ‘18’ under ‘Token Decimal’
- Click ‘Add custom token’
Great! Now you have $AKRO tokens and can go to the staking portal to delegate your stake.
Step 3: Go to the AKRO staking portal
You can find the $AKRO staking page here.
- Connect your MetaMask wallet
- Select the ‘Ethereum’ network
- Go to the ‘Staking’ section
- Type in how much you want to stake
- Click ‘approve’
- Give permission to access your AKRO
- ‘Confirm’ the transaction
- Success!
You will now be greeted with the homepage of the staking portal showing you a few statistics on your current holdings:
Step 4: How many staking pools are there?
Currently, there is only one pool for AKRO staking. There is no lock-up and you can withdraw any time.
Step 5: What is the current staking APY?
Check it out on StakingRewards here:
Conclusion
Staking your $AKRO allows you to earn a share of the protocol revenue and earn additional $AKRO emissions. Staking has many benefits beyond just earning yield on your investment:
- You are contributing to decentralization
- Boosting network security
- Participating in governance
Check out StakingRewards.com for more tutorials and insights on best practices for staking your crypto.