We are excited to announce that MultiversX Staking is now available in Ledger Live ($EGLD).
Key Highlights:
- Protocol staking support is now available for MultiversX ($EGLD).
- Staking through the Ledger ecosystem brings many benefits including ease of use, self-custody, and security. Protocol staking with the Ledger by Figment nodes allows you to further participate in blockchain networks and earn token rewards.
- We also support staking through Ledger by Figment nodes on NEAR ($NEAR), Solana ($SOL), Osmosis ($OSMO), and $CELO.
MultiversX: First Look
MultiversX is a Layer 1 distributed transactional computation protocol that relies on a sharded Proof-of-Stake architecture.
Combining three types of sharding; state, transactions and network, to produce a solution called “Adaptive State Sharding,” MultversX improves communication among shards and increases network performance through parallel processing. The network is built on WASM and carries its own Virtual Machine called the MultiversX Virtual Machine. This allows code to be written in C++, C, Rust typescript and compiled into WASM. Learn more about MultiversX in our First Look article.
Staking Overview
Staking tokens helps decentralize, secure, and maintain the health of the network. Staking provides a steady stream of rewards, independent of underlying token prices.
Staking your tokens is essential for the operation of the protocol. In return, your tokens allow you to earn new issuance (also known as inflation) subsidies, and transaction fees generated from the network.
For more information on Protocol Staking, check out Part 1 and Part 2 of our educational video ‘Wat Dat?’ series.
Stake Through The Ledger Live App
Staking through the Ledger Live app gives you the ability to earn rewards while your assets remain secured by your Ledger with self-custody.
Staking through your Ledger wallet has several benefits:
- Enterprise validator services. Figment is the world’s leading provider of blockchain infrastructure.
- Convenience and Security. You will earn rewards via the Ledger Live app while securely holding your crypto through self-custody via your Ledger hardware wallet.
- Multiple currencies supported. Ledger hardware wallets allow you to securely store and stake multiple coins simultaneously.
