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Staking is an integral part of the consensus mechanism. Chiliz Chain depends on a robust structure of validators that help in reducing gas fees and shorten the block time. Usually, blockchains use consensus mechanisms based on Proof of Stake (PoS). The participants for staking get opportunities based on their stake in the pool to validate transactions and create more blocks and become validators.
As a user, you can decide how long you want to stake your CHZ. That way, it becomes easier to participate in and support activities on the blockchain. You earn more rewards in return for staking your share.
3. Go to your MetaMask Wallet and select the account you want to connect with your staking account. Click Next.
4. Select Connect.
5. Once your wallet is connected to the Chiliz Staking UI you will see the following chiliz staking dashboard.
- 1.To delegate testCHZ, select your Validator, and click on the corresponding Delegate button.
2. Enter the amount you want to delegate in the Amount field and select SUBMIT. Please note, the minimum stake for the testnet is 1 CHZ.
3. Go to your MetaMask Wallet, verify transaction details, and select Confirm.
4. You will receive the following Delegate notifications on the chiliz staking dashboard.
5. You can further confirm transaction details including the timestamp on your MetaMask Wallet.
6. You can also view your recent
Delegatetransaction on the chiliz staking dashboard. Furthermore, use chiliz staking dashboard to check and verify your validator's details including Status, Voting Power / %, Delegated, Commission Rate, Validator Fees, and My Rewards.