Finally, the Burrito Wallet has opened its staking service! 👏 👏
Casper operates as a Proof-of-Stake (POS) network, requiring users to deposit a certain amount of Casper coins to participate as validators (known as validator nodes). Validators propose blocks and validate their legitimacy, and to do so, they must stake a specific amount of Casper coins on the network. The process of depositing tokens into the network is referred to as staking.
By staking and participating in the role of a network validator, users can earn rewards in Casper coins proportionate to the quantity of coins they have staked.
For users who are interested in staking but find it impossible due to time constraints or physical limitations to participate as validators by validating block legitimacy, there is an alternative. They can delegate their Casper coins to operators who currently serve as validators. Through delegation, users can stake their coins and receive rewards based on the staked amount.
To participate in Casper Network staking, the following steps are required:
- Create a wallet through Casper Labs.
- Generate a new account from the created wallet.
- Save the private key and public key of the generated account.
- Link the Casper Labs website with the created wallet.
This complex and cumbersome process is necessary for participation.
However, if you choose to stake with Burrito Wallet, you won't have to worry about the above cumbersome steps at all. Burrito Wallet handles these complicated steps on your behalf.
I'll explain step by step how to stake with Burrito Wallet through the images below.
"Before you start Casper staking, please activate your Casper coins.
You can refer to the Token Activation Guide for instructions on how to activate the tokens."
1. Staking Casper
Step 1 Select Casper Coins or choose [Stake Now].
Step 2 Choose Staking from the Coin Information.
Step 3 Enter the amount of coins.
Step 3-2 Select Validator.
Step 4 Staking request completed.
Step 5 Check Staking History.
Please ensure that you have 2.5 CSPR coins for network fees when making a staking request. The initial staking reward may take approximately 6 hours to process. Subsequent rewards will be distributed every 2 hours, and you can check the accumulated reward amount by refreshing the page.
2. Staking Additional Casper
Step 1
Choose Additional Staking
Step 2
The same process as staking.
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Step 3
Additional staking completed.
Before requesting additional staking, please ensure that you have 2.5 CSPR coins for network fees.
3. Unstaking Casper
Step 1
Select Unstaking.
Step 2
Enter the unstaking amount.
Step 2
Unstaking completed.
You can unstake at any time. Please ensure that you have 2.5 CSPR coins for network fees when making an unstaking request. After completing the unstaking process, it may take up to 14~16 hours for the withdrawal to be processed.
Please refer to the Casper Network website for more detailed information.