WAX staking rewards: How to vote, earn and claim
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.
Posted Using LeoFinance Beta
The amount you get from voting is kind of small but it is worth something. I haven't checked my WAX account in a while so I might have to go claim my rewards. It's just too bad that the process isn't as simple as Hive to collect rewards though and you have to make sure to claim both the CPU and NET rewards.
Posted Using LeoFinance Beta
Do you know if there's a tool to automatically claim your WAX staking rewards?
Like you said, I'm finding the process of having to manually claim a bit annoying.
Posted Using LeoFinance Beta
Not to my knowledge. WAX has been a past time for me because I haven't checked mine in a long time.
Posted Using LeoFinance Beta
there was a time I had a nice chunk of wax staked but I bought splinterlands packs lol. I never actually staked much
Posted Using LeoFinance Beta
Does anyone in the Splinterlands community use WAX?
Is the integration purely to just gain more exposure for Splinterlands?
Do you know anyone that's had more success listing their Splinterlands NFTs on WAX instead of via Hive?
Posted Using LeoFinance Beta
Im not really sure how to judge it but assets are a little more expensive on wax so I do know of some people who buy things and then flip them on wax.
I earn wax with other collections like alien worlds and then buy chaos packs and send them into the game.
Posted Using LeoFinance Beta
Actually in Venezuela it is a bit tedious to create a WAX portfolio hahaha, I will do it soon and let you know by Threads hahaha.
Posted Using LeoFinance Beta
What's the part you're having trouble with?
Sign up via WAX Cloud Wallet and if you need the 5 WAX to pay the fee, I'm happy to pay it for you.
Just let me know.
Posted Using LeoFinance Beta
No bro, I don't need the money, but in Venezuela we can't have this Wallet.
Do you think that using a VPN I can get it?
Yeah, try a VPN.
Or try using Wombat Wallet.
Posted Using LeoFinance Beta
Good idea my man!
Can we contact each other on Discord?