Cosmos’ first IBC enabled AMM, Osmosis, has officially launched!
Ready to stake? Here’s what you need to know:
ATOM holders & stakers are eligible for the OSMO fairdrop. The amount of OSMO a user will receive is dependent upon if they were staking or holding during the Stargate upgrade. Users can check airdrop eligibility here. Eligible users are automatically dropped 20% of the fairdrop; after that there are four missions to complete within the Osomosis platform to receive the remaining 80% of the fairdrop.
Users can: make a swap, add liquidity, stake to a validator, and vote on a governance proposal (with each action unlocking 20% of the airdrop, respectively). To receive the full airdrop, these actions must be done within two months of the Osmosis launch. After this time period, your airdrop allocation begins to decrease.
If you missed out on the OSMO Fairdrop, have no fear. You can still purchase & stake OSMO using the Osmosis platform, simply follow the steps on this twitter thread.
Key Staking Considerations:
- Rewards are distributed every daily epoch
- There is no slashing for downtime (but jailed after ~2 hours downtime); 5% for double signing
- 14 day unbonding period
- New delegation required for compounding
OSMO Staking Guide
Once you have OSMO tokens in your Keplr wallet, simply follow the steps below:
- Head over to the Osmosis platform and navigate down to the “Stake” section
2. Clicking the “Stake” button will link out to: https://wallet.keplr.app/#/osmosis/stake which contains information on Osmosis staking and validators.
3. Find Figment in the Osmosis validator set and click the “manage” button. Click “delegate”, and then enter the amount you want to delegate. Always remember to keep some Osmosis available to pay for transaction fees.
4. Click “delegate” and then click “approve” to approve the transaction.
Shortly after you approve the delegation transaction, your stake will go into action! You have successfully delegated your OSMO tokens. Click here for more information on the Keplr wallet.
For Osmosis Fairdrop participants, the action above of staking to a validator will unlock a 20% of the airdrop. To receive the rest of the airdrop, the steps below will detail: making a swap, adding liquidity, and voting in governance.
Making a Swap
- Head over to the “Trade” section on https://app.osmosis.zone/ and select your desired tokens to swap.
2. When you are ready, click “Swap” and then approve the transaction.
Once the transaction is approved, you have successfully completed a swap on Osmosis, unlocking 20% of the Fairdrop.
- To add liquidity on Osmosis, head over to the “Pools” section on https://app.osmosis.zone/ where you will find liquidity pools on Osmosis
2. Please note that to add liquidity, you will need OSMO, and another IBC token like ATOM, AKT, or XPRT. For this tutorial, we will be adding liquidity to the 50% ATOM, 50% OSMO pool. Click on the pool, and then click “Add / Remove Liquidity”
3. Enter your desired amounts, click “Add Liquidity” and then approve the transaction. Once approved, you will have successfully added liquidity to an Osmosis pool, unlocking 20% of the Fairdrop.
Voting in Governance
- To participate in Osmosis governance, head down to the “Vote” section on https://app.osmosis.zone/
2. Clicking “Vote” will bring you here to Keplr: https://wallet.keplr.app/#/osmosis/governance where you can vote on Osmosis governance proposals. To learn more about a proposal, click on the “Details” button.
3. When you are ready to vote, click the blue “Vote” button, and you will be presented with a couple options.
4. Lock in your vote, press “Confirm” and once you have approved the transaction, you have successfully voted in Osmosis governance, unlocking 20% of the Fiardrop.
If you followed all the steps above from staking to a validator, making a swap, adding liquidity, and voting on governance – you will have successfully unlocked 100% of the Osmosis Fairdrop.
We hosted an AMA with the Osmosis Team on June 14th, for more Osmosis information, check out our AMA recap.
If any questions come up throughout the process, feel free to ask them in our Staking Hub Telegram channel.