Staking Cosmos (ATOM) through Ledger Live - margertannable/Ledger-Device-Solutions-890 GitHub Wiki

Earn Cosmos delegating rewards* by delegating your ATOM through Ledger Live.

Please download the last update of Ledger Live Application:

1.Ledger Live for Windows 10/11

2.Ledger Live for MAC

3.Ledger Live for Android

Before you start

  • Set up Ledger Live with your Ledger device.
  • Ensure your Ledger device runs the latest OS (firmware) version.

Video instructions

Add your Cosmos account

  1. Install the latest version of the Cosmos app  (at least 2.16.0) on your Ledger device.
  2. Add a Cosmos account by clicking on Add account on the Accounts page. Learn more
  3. Receive some Cosmos (ATOM) coins in your account. Learn more

Delegate your assets

 How delegating works

By delegating your ATOM to a validator, you will be able to get rewards. Delegated ATOM cannot be sent.

  1. Click on the Earn rewards button on your Cosmos account page.  
  2. Click on Continue to delegate your assets after reading the information window.
  3. Enter the amount of ATOM to delegate.
    • You will have to select an amount to delegate and the validator you wish to delegate to.
    • Only the validators who are in the top 125 can distribute rewards. If a validator drops out of the top 125, they will no longer validate blocks, thus they no longer have rewards to distribute.
    • You may choose up to five validators in a single delegation operation.
    • You may choose an existing validator in your list to add more Atoms to the already existing delegation.
  4. Click on Continue.
  5. Verify and confirm the delegation operation on your Ledger device.
    • Open the Cosmos app after you’ve connected and unlocked your device.
    • Press the right button to review all operation details: Resource, Amount, validator information.
    • Press both buttons to Accept and send the operation. Choose Reject to cancel the operation.
  6. The Delegation operation is then confirmed.
  7. List of current delegations is available within the account information screen.

Note: When you delegate your ATOMs, they will remain locked. After ending a delegation, your ATOMs cannot be used for the 21 days that follow.  

Delegate your assets to an additional validator

If you are already delegating your assets and want to delegate your ATOM to an additional validator, click on the Add button in the Delegation(s) section. images/4407168700177.png

Claim your Rewards

  1. When available, you will be able to claim your rewards through the Claim rewards button or through the Manage list of options.
    • Note that the Manage button is specific to a validator, while the Claim rewards button will let you choose the validator.
    • Claiming rewards will cost a fee. A warning message is displayed if the fee for a reward is higher than the reward itself.
  2. Two options are available when claiming rewards from a validator:
    • Cash in: The reward amount is added to your available balance.
    • Compound: The reward amount is redelegated to the same validator. **** 
  3. Click on Continue.
  4. Verify and confirm the Claim rewards operation on your Ledger device.
    • Open the Cosmos app after you’ve connected and unlocked your device.
    • Press the right button to review all operation details: Fees, validator information.
    • Press both buttons to Accept and send the operation. Choose Reject to cancel the operation.
  5. The Rewards-claiming operation is then confirmed.

Undelegate your assets

 How Undelegation works

You can retrieve the delegated asset if needed.

  1. From the Delegation(s) list, Click on the Undelegate option available through the validator Manage button.
  2. Select the amount you want to undelegate, please note that:
    • Pending rewards will be cashed in automatically.
    • The undelegated amount will be locked for 21 days before being transferred to your available balance.
  3. Click on Continue.
  4. Verify and confirm the Undelegate operation on your Ledger device.
    • Open the Cosmos app after you’ve connected and unlocked your device.
    • Press the right button to review all operation details: Fees, Undelegated Amounts, Validator information
    • Press both buttons to Accept and send the operation. Choose Reject to cancel the operation.
  5. The Undelegation operation is then confirmed.
  6. The 21-day undelegation countdown will be displayed in the list of Undelegation(s). You can have a maximum of 7 undelegations at the same time.

Note: When you undelegate your assets, your pending rewards are claimed automatically as a cash-in. This will not create a transaction.  

Redelegate your assets

How Redelegation works

You can redelegate your asset to another validator without waiting for the 21-day required lock period through the Redelegation operation.

  1. From the delegation list, Click on the Redelegate option available through the validator Manage button.
  2. Click on Continue to delegate your assets after reading the information window.
  3. Select a new validator and the amount you want to redelegate.
  4. Click on Continue.
  5. Verify and confirm the Redelegate operation on your Ledger device.
    • Open the Cosmos app after you’ve connected and unlocked your device.
    • Press the right button to review all operation details: Amount to redelegate, Fees, Source, and Destination Validator information.
    • Press both buttons to Accept and send the operation. Choose Reject to cancel the operation.
  6. The Redelegate operation is then confirmed.
  7. You will find the newly selected validator in the Delegation(s) list. Note that you cannot redelegate these ATOMs for 21 days afterward.

Note: When you redelegate your assets, your pending rewards are claimed automatically as a cash-in. This will not create a transaction.  

Risk of Cosmos delegations

The Cosmos blockchain can punish validators who don’t do their work appropriately through an event called slashing. This will cause them to lose a part of their ATOMs.

  • When a validator undergoes a slashing, so will those delegating their ATOMs to them.
  • As of 20 April 2020, the amount slashed can vary between 0.01% to 5% of the amount of ATOMs delegated. This is subject to change. Rewards are not impacted by this.
  • Since you could lose a part of your ATOMs, we strongly recommend our users research the validators they are about to delegate to. Ledger cannot be held liable for any slashed ATOMs.

*Rewards are not guaranteed. Ledger does not provide any financial advice or recommendation.