Direct from the desk of Dane Williams.
Simple guide to voting, earning and then claiming your WAX staking rewards.
Having already staked WAX for CPU, NET and RAM, did you know that you can actually earn rewards for doing so?
You have to stake WAX for resources in order to use the network.
So with that being the case, your ability to earn WAX staking rewards for doing something you have to do anyway, is just a nice little cherry on top.
To earn WAX staking rewards, simply vote for a proxy by logging into your wallet on bloks.io and clicking the vote tab.
Let me show you how easy earning WAX staking rewards really is.
How to first vote for a proxy on WAX
While you can do this within both the Wombat and WAX Cloud wallets, I’m going to use the super easy interface on wax.bloks.io for this guide.
Step 1:
First go to wax.bloks.io and connect your WAX wallet address by logging in:
Your WAX wallet will now be connected.
Step 2:
Click the vote tab and then select proxies.
If you’re really keen, you can also earn WAX staking rewards by instead choosing 16 guilds from the validators list.
But going the proxy route is super simple and when you’re just starting out, is by far the easiest.
Step 3:
Choose your proxy of choice and click the proxy to button.
You’ve now successfully chosen your proxy of choice and they’re now tasked with choosing where your vote flows.
How to claim WAX staking rewards
Now that you’ve voted for a proxy, you’ll need to let your WAX staking rewards build up.
When they’ve built up, you’re ready to claim your WAX staking rewards.
Step 1:
Click the wallet tab and then claim GBM + Vote Rewards:
Step 2:
Now click the claim vote button at the bottom and confirm the transaction.
Congratulations, that’s it.
You’ve earned WAX staking rewards and they will be in your wallet!
Ta-da!
Final thoughts on earning WAX staking rewards
While you’re not going to earn a huge amount of WAX for doing so (the current APR is somewhere between 2-3%), earning WAX staking rewards is a simple process for something you need to do in order to use the network.
I'd recommend you just view the rewards you can claim once every 24 hours as a nice bonus for using and helping to secure the WAX network.
If you have any questions or comments, please jump into the comments section and we can flesh them out together.
Best of probabilities to you.