Evmos is a proof-of-stake blockchain within the Cosmos ecosystem. It is one of the first Cosmos-based chains to offer the Ethereum Virtual Machine (EVM), thus making it compatible with all Ethereum-based applications. This gives developers the opportunity to deploy their applications in a low-cost gas environment while also expanding their addressable market. Evmos has not enabled inflation as of the date of this article, but a proposal is in place for it to be turned on in the coming days.
This guide will walk you through how to stake your EVMOS tokens using Metamask. You can also find a Keplr staking guide for Evmos here!
As mentioned for this guide, we will be using MetaMask. This wallet is non-custodial and requires the user to keep track of their own mnemonic phrase, and password. Always ensure that you properly backup your MetaMask mnemonic phrase, and password in a safe place. To learn more about custody and best practices, check out our “What is Custody?” video.
Step by step staking guide:
First you will need to navigate to gotrekt.com. In the top right hand corner you will select “Connect Wallet”
A popup window will display two options to choose from. Select “METAMASK”
Metamask will then prompt you to select which account on your wallet you want to connect. Select the appropriate wallet and click “Next”
Metamask will ask you for permission to see your wallet address, account balances, activity and initiate transactions. Review the prompt and then select “Next”
Metamask will then ask you to sign a message. Review the prompt and then select “Sign”
Metamask will then prompt you to switch networks. Review the prompt and then select “Switch network”
Metamask will then prompt you to add a network. Review the prompt and then select “Approve”
Now you will navigate to the “Staking” tab on the left-hand side of the dashboard.
Select “View Validators” in the middle of the page.
In the search box, type “Figment”
After you have located the Figment validator, select “MANAGE” on the right hand side of the page.
A dialog box will appear. Select “DELEGATE”
Make sure you read the text explaining the unbonding period for Evmos. Then in the “Amount to Delegate” box, type in the amount of EVMOS you want to stake and click “DELEGATE”!! *Make sure you do NOT stake your full available balance. You MUST leave room for gas fees*
Metamask will then ask you to sign a message. Review the prompt and then select “Sign”
Metamask will display another prompt and ask you to sign a message. Review the prompt and then select “Sign”
CONGRATULATIONS! You have successfully staked your EVMOS with Figment! After the network enables inflation, you will earn rewards once a day.
To undelegate your $EVMOS, simply click “Manage” on the right-hand side of the staking page, and then you will have the option to undelegate. Please note, if you undelegate your tokens there will be a 14 day unbonding period. During these 14 days, you will not be able to earn rewards or transfer your tokens.
Interested in learning more about Evmos? Check out these other articles by Figment!
Evmos Links
