As readers might know about Moonbeam (website)
Moonbeam, an Ethereum-compatible smart contract parachain on Polkadot.
I participated in Polkadot's slot auction on Binance a while ago and Moonbeam is one of the winning project. So I was given some of their tokens before I really know them.
Did not have time to take care of them but just HODL, today I decided to search for staking possibilities and it seems I can put them to work. So I roughly googled how to do it and just tried with my GLRS tokens. This post documents the process.
Firstly, it's EVM so we can use Metamask. Visit the website and it automatically add the Moonbeam network if you allow.
Then we are logged in! So I transferred my tokens from binance to the wallet.
Scroll down to see the Staking place.
Click Manage delegations and then see this screen. Need to find a collator from the list.
There are many of them. Please notice that there seem to be some rules regarding staking like there is a minimum (at least 50 GLMR) and one collator cannot have more than 350 delegations etc. I am not familiar with that, please DYOR.
I randomly picked one and delegate my tokens to it. Notice that you need to at least leave 0.1 GLMR for transaction fees.
Gas fee isn't significant.
Viola! Staking finished. Now I just wait to see how good the reward is. :)
Share whatever you like about Moonbeam. ^^
