❌ [OLD] How to stake NYM (Nym)

Everything you need to know to stake NYM with Chorus One.

How to Stake NYM (Nym)

Welcome to the step-by-step guide on how to stake NYM tokens on the Nym network using Chorus One. Staking NYM helps secure the Nym network while providing rewards for supporting its privacy-focused infrastructure.

Overview of the Nym Network

Nym is a privacy infrastructure protocol designed to prevent data surveillance and metadata leaks. By leveraging mixnets and anonymous credentials, Nym offers developers the tools to build privacy-preserving applications. Its mission is to create a decentralized, private-by-default internet for users worldwide.

Staking NYM helps power the Nym mixnet, ensuring its robustness and efficiency while earning rewards for contributing to the network's decentralization.

Prerequisites

Before you start staking NYM, ensure you have the following:

• Compatible Wallet: A wallet that supports NYM tokens, such as Nym Wallet or Keplr Wallet.

• NYM Tokens: Ensure you have NYM tokens in your wallet, along with a small amount for transaction fees.

• Chorus One Validator: Locate the official Chorus One validator address in the staking interface.

• Block Explorer: Use the Nym Explorer to verify transactions and validator information.

For more details, refer to the FAQs.

---

Staking Summary

Feature	Details
Minimum Stake	Varies based on the protocol settings
Lock-Up Period	Check the unbonding period on the Nym network
Rewards Payout	Rewards are auto-compounded or claimable
Unbonding Period	Typically 21 days, subject to network updates
Chorus One Validator	Chorus One Validator Address

---

Step-by-Step Guide

Step 1: Set Up Your Wallet

1. Download and install a compatible wallet:

   • Nym Wallet

   • Keplr Wallet

2. Create a new wallet and securely store your recovery phrase.

3. Transfer NYM tokens to your wallet.

[IMAGE: Wallet setup interface]

---

Step 2: Access the Staking Interface

1. Open your wallet and navigate to the Staking or Delegation section.

2. Select the option to Stake or Delegate your NYM tokens.

[IMAGE: Staking interface in the wallet]

---

Step 3: Select the Chorus One Validator

1. Search for the Chorus One Validator using the validator address: Chorus One Validator Address

2. Click on the validator to select it.

Tip: Use the Nym Explorer to verify the Chorus One validator details, such as uptime and commission rates.

[IMAGE: Validator selection screen]

---

Step 4: Delegate Your NYM Tokens

1. Enter the amount of NYM you wish to stake.

2. Review the transaction details, ensuring the validator is set to Chorus One.

3. Confirm the transaction in your wallet.

[IMAGE: Delegation amount entry]

---

Step 5: Confirm Your Delegation

1. Once the transaction is confirmed, your NYM tokens will be staked, and you will start earning rewards.

2. Check the Staking Dashboard in your wallet or use the Nym Explorer to monitor your staked balance and rewards.

[IMAGE: Staking confirmation screen]

---

Managing Your Staked NYM

• Unstaking: To unstake your NYM, navigate to the staking interface, select your staked balance, and follow the steps to undelegate.

• Rewards: Rewards are auto-compounded or claimable, depending on the Nym network rules.

---

FAQs

1. What are the staking rewards for NYM?

Staking rewards vary based on network parameters, validator performance, and the total staked amount.

2. Is there a lock-up period for NYM staking?

Yes, there is typically a 21-day unbonding period. Check the current network rules for details.

3. How do I contact support?

For questions or assistance, reach out to Chorus One Support.

---

Conclusion

Staking NYM is a great way to support the Nym network while earning rewards for your contribution. By choosing Chorus One, you are staking with a trusted validator dedicated to performance and reliability.

[IMAGE: Chorus One branding or Nym logo]

---

A Note to Institutional Investors

If you are an institutional investor looking to stake NYM 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.