Thread by @i_am_jackis

HOW TO STAKE YOUR $LUNA THREAD!

A lot of people have their $LUNA sitting in an exchange wallet doing nothing and will be MISSING OUT on an insane amount of #aidrops.

In this thread, we gonna go over step by step, how to stake your #LUNA, and why you actually wanna do it.

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Thread analysis:

▪️ Why you actually want to do it, NOW
▪️ Setting Up The Platform
▪️ Staking
▪️ Collecting Airdrops

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▪️ Why you actually want to do it, NOW

There are currently about 60+ projects waiting for the most awaited mainnet upgrade #Col5 #Columbus5 in the #Terra ecosystem to go live.

Once it does, all the $LUNA stakeholders will start receiving quite a big amount of #Airdrops

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And who wouldn't love to receive some free money right? And you are telling me there are so many? Yes.

You can already see some below ready to go with way more to follow 👇
lunaairdrops.com

All ready to adopt $UST. More $UST = more $LUNA gets burned = Price goes up

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On top of that, you will receive your regular staking rewards in the form of $LUNA and other stables in the #Terra ecosystem, usually around 10% APY

You will also help to make this amazing project even more decentralized

Read more about #LUNA below


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▪️ Setting Up The Platform

In order to start, you need to first download the #Terra Station

You do that by going to Terra.Money and downloading the platform, just click download on the home page & select your platform. Download & Install.

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After you do, open up the #Terra station and this is your homepage

You first need to create your local $LUNA wallet.

You do that by clicking "Connect"

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A window pops up -> click "New Wallet"

Then a new window pops up.

1) Set a name for your wallet - can by anything
2) Set a password
3) WRITE DOWN YOUR SEED PHRASE - This will be used for recovery/logging from a new device etc.
4) Click that you understand
5) Next

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You will proceed to confirm that you have written down your seed phrases.

If you are not sure which one is which the numbers go from the top left corner as the first to the right, follow to next row, to the bottom right corner as the last

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After your wallet is created your new Dashboard or Welcome page changes.

Now you can see the name of your wallet, your $LUNA wallet address, and if you want you can log out on the right.

Now you need to send your #LUNA from an exchange to your #Terra Station wallet

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If you are withdrawing $LUNA from an exchange on some of them, after you put in your #Terra Station wallet address, this message of a "MEMO" could appear.

You don't have to fear anything, just click "Confirm" & leave "MEMO" empty, then proceed to withdraw.

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After you withdraw, within few seconds or minutes your $LUNA should appear in your #Terra Station wallet.

You can check it by clicking "Wallet" in the left bar.

Then proceed to "Staking" also found in the left bar.

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▪️ Staking

In this step, we finally get to #Staking itself.

On top, you can see your available amount for delegation

On the bottom, you see available validators.

You wanna choose the one that has "Uptime" 100%.

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As always I highly recommend diversifying in everything and splitting your $LUNA amongst like 2, 4, or more validators.

For your maximum comfort, I recommend choosing the one with ✔️ mark.

I also recommend going for lower voting power. Generally anything sub 1%

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The reason for that is that Validators with lesser voting power are supposed to receive higher airdrop rewards

This is done on purpose to further support better decentralization.

This is at least the information I gathered but maybe some #LUNAtics can confirm 💯

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After the first filtering which one you choose after doesn't really matter that much but you can always find some info yourself.

You then pick your favorite and after you click on it, this tab appears.

Click "Delegate" then pick your amount and click "Next"

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Confirm with your password and click "Delegate" and you should see the "Success" window pop up.

A small fee will be taken for delegating

Then proceed back to the "Staking" tab in the left blue bar to see your delegated $LUNA

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Now you should see your delegated $LUNA locked in staking & the rest of your available #LUNA yet to be staked.

Within few minutes you will already start receiving rewards from staking in the amount based on how much you have staked.

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▪️ Collecting Airdrops

How to collect #airdrops from staking $LUNA?

First, you gotta add the extension to your browser.

You do that by going again to terra.money and clicking on the first option, then via private key syncing the wallets.

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After syncing is done, you gotta connect the wallets of the tokens you wanna receive.

I recommend using this site to show all currently available airdrops.

terra.smartstake.io/airdrops

Just go onto the project site and connect the wallet then click "Allow"

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After you sync the wallets, just wait for $MIR, in this example, to have its snapshot & then just click "Claim" & it will appear in your wallet

You need to have some $UST in your wallet to do so though & I recommend waiting few weeks before claiming to save some on fees

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Then you do this with every other project in the #Terra $LUNA ecosystem.

Also, as a side note, if you need $UST you can always use the "Swap" tab in the left menu and swap a few $LUNA for a few $UST and it will sync in your wallet for all the projects.

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The only downside of staking $LUNA and receiving all the extra free money you should be aware of is that if you wanna unstake $LUNA, currently it takes 21 days to do so.

However, with #LUNA tokenomics you have nothing to worry about and it's actually good, it's this way.

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I hope you have found this thread valuable and easy to apply.

If you did, as always, please consider sharing it with your friends as they might find it helpful as well and it helps to spread awareness

Thank you 😉🙌

$UST $LUNA #LUNA #LUNAtics #LUNAtic #Terra

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