How to stake AXL (Axelar)

Everything you need to know to stake your AXL with Chorus One.

Overview

CATEGORY	DETAILS
Chorus One Validator	axelarvaloper16pj5gljqnqs0ajxakccfjhu05yczp987zac7km
Recommended Wallets	Kelpr or Leap
Block Explorers	https://www.mintscan.io/axelar or https://axelarscan.io/
Staking Rewards	https://www.stakingrewards.com/asset/axelar
Unstaking Period	21 Days

About Axelar

Axelar (AXL) is a decentralized interoperability network designed to facilitate seamless communication between different blockchain ecosystems. It provides a universal protocol that allows applications to connect and interact with multiple blockchains, enabling the secure transfer of assets, data, and messages across diverse networks.

Axelar achieves this by using a set of decentralized gateways and cross-chain communication protocols, ensuring compatibility and smooth integration with various blockchains, including both Layer 1 and Layer 2 solutions.

• Axelar’s native token, AXL, plays a key role in securing the network and incentivizing validators through its proof-of-stake mechanism.

• The token is also used for governance, allowing token holders to influence the future development of the platform.

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How to Stake AXL

1. Install the Keplr Wallet Extension

For the focus of this guide, we recommend using the Keplr wallet. While Leap is usable, this guide will be walking through a demonstration with Keplr.

However, if you would like to use Leap wallet and stake directly to the Chorus One validator via Mintscan, you can reference the quick guide below to start your Leap wallet.

Optional: How to install the Leap wallet

First, download your Leap wallet

• You can find their official site here: https://www.leapwallet.io/

For maximum compatibility, Chromium-based browsers like Google Chrome or Brave are recommended, however, Firefox should work too.

Next, ensure that you have the Leap wallet extension downloaded and enabled in your browser.

Once installed, you can create a new wallet, import an existing wallet like Keplr, or log in with a hardware wallet such as Ledger.

If you choose to create a new wallet you will be shown 12 words as your mnemonic seed.

Please be sure to back up your mnemonic seed securely.

• It is recommended to store it physically, not in a digital format or as a screenshot.

Never share this seed phrase with anyone, as they will have access to your funds.

It's important to remember that:

• A lost mnemonic seed phrase cannot be recovered.

• Anyone with your mnemonic seed phrase can take control of your assets.

Next, you will be asked for the mnemonic again to ensure you recorded it.

• Enter the 12 words in order and case sensitive (all lower case).

You will then be prompted to create a password for your Leap wallet.

Your Leap wallet is all set to go! Click on 'Launch Extension' to begin using your new wallet.

In case you don't have the Keplr extension installed in your browser, please visit https://www.keplr.app/ and click on 'Install Keplr'.

Example of the installation screen using Brave browser.

Click on Install Keplr for Chrome if you are using a Chrome browser or Brave if you are using the Brave browser and follow the installation instructions.

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2. Create/Import an Account

Click on the extension in the Chrome/Brave toolbar and the following page will open up.

• It is recommended to pin it to your browser toolbar by clicking on the jigsaw piece 🧩 icon and then the pin 📌 icon.

Select to either create a new wallet, import an existing wallet, or connect with a hardware wallet.

In case you do not have an existing Keplr account you can click 'Create a new wallet'.

If you already have a wallet to use, you can select 'Import an existing wallet' or you can connect with a compatible hardware wallet, such as a Ledger device.

• Alternatively, Keplr now offers the ability to associate your wallet with your Google account, however, this is a less secure way of establishing your wallet and is not recommended.

Here you can choose between creating, importing, or associating your wallet with your Google account.

If you choose to create a new wallet you will be shown 12 words as your mnemonic seed.

• Optional: You can select the 24 words option for a more secure mnemonic.

Please be sure to back up your mnemonic seed securely.

• It is recommended to store it physically; never in a digital format or as a screenshot.

Never share this seed phrase with anyone, as they will have access to your funds.

• A lost mnemonic seed phrase cannot be recovered.

• Anyone with your mnemonic seed phrase can take control of your assets.

Next, enter an account name and a password to lock and unlock your wallet. You will be asked for the mnemonic again.

• Enter the 12 or 24 words in order and case sensitive (all lower case).

• This is to make sure you remember the mnemonic and confirm that you wrote it down correctly.

Example of the screen that will show your recovery phrase.

After verifying your 12 or 24 word phrase, you will be prompted to select any other Cosmos Hub networks you'd like to add to your wallet.

• In this case, we will be adding Axelar (AXL), so please be sure to select that from the list or use the search bar to find it.

No need to add any other networks if you don't plan on using them yet. You can always select more networks later.

However, it is advisable to have 'Cosmos Hub' selected when creating your new wallet.

Be sure to search for AXL in the list in addition to Cosmos Hub.

Once you selected the relevant networks you want to use, click 'Save' and you'll be all set to go.

All set!! Your Keplr wallet is good to go!

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3. Log in to your Keplr wallet

Regardless of whether you already have an wallet or if you just created it, you can now click on the Keplr extension to view your address or visit https://wallet.keplr.app/?tab=overview to see your full Keplr dashboard.

Example of the Keplr dashboard.

4. Stake your AXL

If you don't already have some AXL in your wallet, you can fund it with some tokens. You may use an exchange to transfer the tokens to your address or get them from a trusted third party that already holds some.

If you want to stake from the browser extension wallet, you can either navigate to the Keplr dashboard (shown below) or scroll down on the wallet screen and select AXL.

Alternatively, you can connect Keplr to the Mintscan explorer and stake to the Chorus One validator at this address: axelarvaloper16pj5gljqnqs0ajxakccfjhu05yczp987zac7km

Next, you will be prompted to stake.

How to access the dashboard from the wallet browser extension

Scroll down to find AXL or use the search bar.

Once you are on the Keplr dashboard, to stake click on the 'Stake' tab on the left hand side of the dashboard.

Keplr dashboard example

Once there, you will see three steps highlighted in the pink box in the screenshot below.

1. Select Chain

2. Select Validator

3. Stake

Scroll or through the list or search for the chain you want, in this case AXL.

• Then, repeat the same steps to find the Chorus One validator.

Example of using the Keplr wallet screen to choose your chain and validator.

Once you've chosen the Chorus One validator, select how much AXL you wish to stake, then click the 'Stake' button at the bottom of the screen.

Clicking on Stake will take you to Keplr wallet for approval. Approve the transaction and you will be able to see your stake.

• Note: If you are using a Ledger hardware wallet, you will need to have the wallet connected, unlocked, and approve the transaction there.

Example of the AXL staking screen with Chorus One selected.

Next, you will likely be returned to the dashboard interface for AXL, and see a screen similar to the following.

Example dashboard of your AXL staking overview.

Please note that there is a 21 day unbonding process (also known as unstaking) for AXL.

During this period your stake no longer earns rewards and cannot be transferred, exchanged, or spent.

However, you can cancel the unstaking process if you wish without penalty.

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5. Claiming Rewards

After some time you will see rewards accumulating in your wallet.

• This can be easiest to view from the Keplr dashboard.

Example of how available rewards will display from the Keplr dashboard.

You can simply go to the Keplr dashboard to claim them by selecting 'Claim' and approving the transaction.

• You will see all rewards available from all networks you are staking with.

• You can choose to claim all pending rewards or select which networks you specifically want to claim rewards for.

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6. Unstaking your AXL

If you wish to unstake your AXL, you can do so from the same interface in Keplr that you used to stake.

• Either go to the Keplr dashboard or manage your asset directly from the browser extension window.

Example of managing your AXL stake in the wallet extension.

Example of the Keplr dashboard where you can see your active stake and selected validators.

Simply click on the validator you wish to unstake from and you will be prompted with the following screen.

Example of the staking & unstaking screen.

Please note that AXL undergoes a 21 day unbonding period when unstaking.

To proceed, click on 'Unstake' and follow the prompts to select the amount of AXL you wish to unstake.

Then confirm and sign the transaction in your wallet.

And that's it! Your AXL will begin unbonding which you can track from your Keplr dashboard under the Staking tab.

You can view and manage all ongoing unstaking transactions (undelegations) from your Keplr dashboard and cancel them if you change your mind.

Example above showing an AXL unstaking transaction in progress.

After the unbonding period is complete you will be able to transact with your unstaked AXL again!

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A Note to Institutional Investors:

If you are an institutional investor looking to stake Axelar (AXL) with Chorus One, please reach out to us via our staking request form.

About Chorus One

Chorus One is one of the largest institutional staking providers globally, operating infrastructure for over 60 Proof-of-Stake (PoS) networks, including Ethereum, Cosmos, Solana, Avalanche, Near, and others.

Since 2018, we have been at the forefront of the PoS industry, offering easy-to-use, enterprise-grade staking solutions, conducting industry-leading research, and investing in innovative protocols through Chorus One Ventures.

As an ISO 27001 certified provider, Chorus One also offers slashing and double-signing insurance to its institutional clients. For more information, visit chorus.one or follow us on LinkedIn, X (formerly Twitter), and Telegram.