1/9 So you've finally bought some $LUNA, what do you do now? Instead of letting it idle on an exchange or in your wallet, you can stake it to earn more $LUNA on your original $LUNA.
Short thread for friends new to #Terra ecosystem. 🧵👇
$LUNA #lunatics $UST @terra_money
2/9 First go to station.terra.money and click 'Connect' on the top right, and then click on install 'Terra Station Wallet'.
3/9 After installation, click on the extension and click on 'New Wallet'.
4/9 You will be presented with a page like this where you can name your wallet.
Your mnemonic / seed phrase will also appear. DO NOT share this with anyone! This is equivalent to sharing your username and password at the same time.
Write this down and keep it somewhere secure!
6/9 Your new wallet address generated will start with 'terra...'
You can now send $LUNA and $UST and other #Terra assets from
@FTX_Official, @binance, or other exchanges that support the #Terra network into your wallet.
It is good practice to send a small sum first to test.
7/9 Lastly, go to station.terra.money/stake and select a validator with 100% uptime and low voting power to help secure and decentralize the #Terra network.
8/9 Once you've selected a validator, click on the blue button that says 'Delegate' and select the amount of $LUNA you would like to delegate.
#Delegation = #Staking
Before you delegate, take note that there's a 21 day unbonding period where you can't touch your $LUNA.
9/9 You can now enjoy up to 10% interest on your $LUNA!
Interested in knowing more about staking? There are many ways of staking your $LUNA. Follow us and we'll explore the wonders of staking in our next comic!
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