How to stake $ZIL and earn up to 12% APR on Frontier
Frontier is excited to support you in your quest to earn income through staking. This guide shows you how to stake assets like $ZIL and earn up to 12% APR on Frontier.
Staking remains one of the fundamental ways of earning in Crypto & DeFi and most recently in NFTs with the growing interest in that sector. Frontier is excited to support you in your quest to earn income through staking. This guide shows you how to stake assets like $ZIL and earn up to 12% APR on Frontier.
What is $ZIL?
Zil is the native utility token of Zilliqa network used as payment for transactions and smart contracts execution. Zilliqa is a permissionless public blockchain that relies entirely on a sharded network. This makes it possible for it to achieve high throughput and a high rate of transactions per second, allowing it to solve the problem of blockchain scalability and speed without compromising security—an effective way of circumventing the blockchain trilemma.
The blockchain also has its own open-source intermediate-level smart contract language called Scilla - which is focused on preventing blockchain vulnerabilities. $ZIL circulating supply is currently at around 12 billion. Like many other cryptocurrencies, its supply is limited, with a total supply of 21 billion with an annual inflation rate of 5.39%. It is used to execute programs, send transactions, and incentivize actors that support the network. $ZIL is very crucial in maintaining and operating the Zilliqa network. Owning and staking $ZIL allows users to vote on network upgrades and more.
How to Stake $ZIL
If you own some $ZIL token, you can start earning passive income on your assets through staking on Frontier to access the several $ZIL staking validators, all from a single and mobile interface.
This guide shows you how to stake your $ZIL assets and earn rewards according to the staking validator's APR. You will also learn practical steps to claim your staking rewards and, finally, how to unstake $ZIL from any of the selected validator pools.
Getting Ready to Stake on Frontier
We assume you already have some $ZIL tokens in your wallet for the staking. If not, you can load up your Zilliqa wallet by: switching your network to Zilliqa: click on Receive -> Copy wallet address or scan the QR code -> Send $ZIL tokens to your Zilliqa wallet.
To stake your $ZIL token you can follow the process outlined below:
Click "Wallets" - > Select "Zilliqa" - > Click "Stake & Earn" -> Tap "ZIL" - > Scroll and select a "Validator" - > Input quantity - > Click "Review" - > Review the transaction - > Click "Stake" - > Input your confirmatory pin
- > Click on "Review" - > Review the transaction - > Click on "Stake" - > Input your confirmatory pin
How to Unstake Your $ZIL Tokens
You can unbound your staked $ZIL tokens from a validator, but they will be locked up for 14 days before they're available for transfer. No rewards will be generated during the in-bounding period.
Click "Wallets" - > Select "Zilliqa" - > Click "Positions" -> Click on "Unstake" - > Input quantity - > Click on "Unstake" -> A dialogue box will appear on your screen - > Click "Yes, Unstake" -> Review transaction - >
Click on "Unstake" - > Input confirmatory pin
You have successfully un-staked your $ZIL tokens!
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