Staking MultiversX (EGLD) through Ledger Live - margertannable/Ledger-Device-Solutions-890 GitHub Wiki

In this guide, we’ll walk you through the process of staking (delegating) EGLD coins.

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

  • Ensure you’re using the latest version of Ledger Live which you can download.
  • Make sure your Ledger device runs the latest OS (firmware) version. 

Add your MultiversX account in Ledger Live

  1. Install the latest version of the MultiversX app on your Ledger device.
  2. Add an MultiversX account by clicking on Add account on the Accounts page.
  3. Receive some EGLD in your account.

Staking FAQ

When rewards are distributed?

Rewards* are distributed every epoch(24h). After an epoch change, the delegator can either claim his rewards or compound rewards. Claim rewards mean that the rewards become available and compound rewards mean adding newly minted rewards (compounding) to the staking pool.

How long is the epoch?

An epoch in MultiversX always lasts 24 hours and changes at 14.00 UTC.

What is the fee?

These are the service fees that the validator you choose charges to each account using the staking service. The fees have already been deducted from the APR.

Why my reward is not the same every day?

The APR shown in the wallet is calculated in ideal conditions as if the pool had 50% eligible nodes constantly and the network 100% hit-rate. In reality, one pool can have more than 50% eligible nodes (the rewards being higher than the APR/365) and the other day less than 50% (rewards being less than the APR/365). Even if rewards vary from one day to another the one-year length of rewards should correspond to the shown APR.

In order to get an idea of the state of the nodes of one provider/pool in the current epoch, you can use the Validators section of the MultiversX Explorer. With this method, you can calculate the rewards you are to get at the end of the epoch by using the ratio between eligible nodes and the total staked nodes of the pool.

Do I still have control over delegated assets?

The funds are always under the control of the delegator. When delegating them to a validator, the validator does not have access to them. Moreover, the validator cannot delay the delegator’s reward or take other actions. Therefore, the delegator’s funds are safe.

Slashing?

If the validator consistently misbehaves or performs malicious actions, it will be fined accordingly and lose EGLD, an action known as stake slashing, and also have its validator status removed. This form of punishment is reserved for serious offenses. Validator nodes each have an individual rating score, which expresses their overall reliability and responsiveness. Choose staking providers with a high rating in order to secure your funds.

Delegate your assets

 Minimum required amount to stake

The minimum amount to stake is 1 EGLD. Make sure you have 1 EGLD + some amount of EGLD to pay for transactional network fees.

  1. Click on the Stake button on your EGLD account page.  
  2. Click on Continue to delegate your assets after reading the information window.
  3. Enter the amount of EGLD to delegate. You need to delegate at least 1 EGLD. By delegating a higher amount, you can get more rewards.
    • You will have to select an amount to delegate and the validator you wish to delegate to.
    • You may choose 1 validator per staking transaction.
    • You may choose an existing validator in your list to add more EGLD to the already existing delegation.
  4. Click on Continue.
  5. Verify and confirm the delegation operation on your Ledger device.
    • Open the MultiversX app after you’ve connected and unlocked your device.
    • Press the right button to review all operation details: Resource, Amount, and 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.images/7283298769821.png

Note: When you delegate your EGLD, they will remain locked. After ending a delegation, your EGLDs cannot be used for the 10 days that follow.  

Delegate your assets to an additional validator

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

Claim your Rewards

  1. When available, you can claim your rewards through the Claim rewards button or 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. images/7299040220573.png
  2. Two options are available when claiming rewards from a validator:
    • Claim Rewards: The reward amount is added to your available balance.
    • Compound Rewards: 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 MultiversX 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 Sign transaction. Choose Reject to cancel the operation.
  5. The Rewards claiming operation is then confirmed.

Undelegate your assets

 How Undelegation works

You are able to retrieve the delegated asset if needed.

  1. From the Delegation(s) list, click on the Undelegate option available through the validator Manage button. images/7299211904541.png
  2. Select the amount you want to undelegate, please note that:
    • Pending rewards will be cashed in automatically.
    • Ungelegating is a 2-step process: undelegating request, followed by a 10-day unbonding period after which you can finalize the withdrawal, and the undelegated amount will be transferred to your available balance. 
  3. Click on Continue.
  4. Verify and confirm the Undelegate operation on your Ledger device.
    • Open the MultiversX app after you’ve connected and unlocked your device.
    • Press the right button to review all operation details: Fees, Undelegated Amount, Validator information
    • Press both buttons to Sign transaction. Choose Reject to cancel the operation.
  5. The Undelegation operation is then confirmed.

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

Withdraw your assets

Once the 10-day period has passed after you undelegated your EGLD, you need to withdraw the funds to your available balance.

  1. From the Undelegation(s) list, click on the Finalize Withdrawal option.images/7507600819229.png
  2.  Select an undelegation and click Continue.
  3. Verify the transaction details and confirm on your Ledger device
  4. Once confirmed, your funds would be withdrawn to your account balance and you can manage them as you want.

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