Moonstake now supports staking for Avalanche (AVAX), allowing users to earn rewards through its streamlined platform. Users can hold, send, receive, and stake AVAX with a simple one-click process. This integration brings the total number of supported staking coins on Moonstake to 19, further expanding its ecosystem.
This development is made possible through a technical collaboration with RockX, a recognized digital asset platform and leading node operator for major blockchains. The partnership has previously enabled staking services for other prominent cryptocurrencies on the Moonstake platform.
Moonstake began its staking operations in 2020 with the goal of building the largest staking network in Asia. It offers user-friendly Web and Mobile Wallets supporting over 2,000 cryptocurrencies. Since its full-scale launch, Moonstake has rapidly grown its total staking assets and is now a globally recognized top staking provider.
What Is Avalanche (AVAX)?
Avalanche is an open-source platform designed for launching decentralized applications and enterprise blockchain solutions. It operates as a highly scalable, interoperable ecosystem that is compatible with the Ethereum Virtual Machine (EVM). This allows Ethereum developers to seamlessly build on Avalanche using Solidity.
Avalanche utilizes a unique consensus mechanism known as Snow, which is built on a Proof-of-Stake (PoS) foundation. The network is structured around three core chains:
- The X-Chain for managing transactions.
- The P-Chain for coordinating validator activities and staking.
- The C-Chain for handling smart contracts and decentralized applications (DApps).
This robust architecture, combined with a thriving DeFi ecosystem, has made Avalanche a popular choice among developers.
How to Stake AVAX on Moonstake
Staking AVAX is designed to be a straightforward process. Here is a simple step-by-step guide to get started:
- Register for a Wallet: Create an account using the Moonstake Web Wallet or download the Mobile App.
- Add AVAX to Your Wallet: From the "Wallets" screen, select AVAX and click "Add Asset."
- Initiate Staking: Navigate to the AVAX screen, access the Staking tab, and click "Stake." You must enter an amount greater than the 25 AVAX minimum.
- Confirm the Transaction: Enter your wallet password to complete the staking process.
👉 Explore more staking strategies
Understanding AVAX Staking Mechanics
To begin staking AVAX, users must first transfer their tokens to the platform's P-Chain. Assets held on a P-Chain address become illiquid for the staking period; they cannot be freely moved to an X-Chain address or transferred to another P address directly. Moving assets requires sending them back to the X-Chain first.
Key requirements for staking include:
- A minimum of 25 AVAX to delegate.
- A minimum lock-up period of two weeks, with a maximum of one year.
- Validators charge a delegation fee, typically starting at 2% of rewards.
- A notable feature is the absence of slashing; staked tokens are not at risk of loss due to poor validator performance.
Rewards are distributed automatically by the protocol once they are earned. The entire staked amount, plus rewards, is returned to the user after the staking period concludes.
Earning and Claiming Staking Rewards
AVAX staking rewards are managed at the protocol level. They are automatically transferred to the user once they are earned. To receive rewards, a validator must be online and responsive for more than 80% of the validation period. When a validator leaves the network, other validators vote on whether it qualifies for a staking reward based on its performance.
Frequently Asked Questions
What is the minimum amount required to stake AVAX?
The minimum amount required to stake or delegate AVAX is 25 tokens. This is a network requirement to participate in securing the Avalanche blockchain.
Is there a risk of losing my staked AVAX?
Avalanche does not implement slashing, meaning your staked tokens are not at risk of being lost or penalized due to validator downtime or poor performance. Your initial stake is safe.
How long does it take to receive staking rewards?
Rewards are automatically distributed by the protocol. You will receive your accrued rewards, along with your original staked tokens, at the end of your chosen staking period, which can be set from two weeks up to one year.
Can I unstake my AVAX before the lock-up period ends?
No, AVAX tokens are locked for the entire duration of the staking period you select. Early unstaking is not permitted. You will gain access to your funds only after the staking term is complete.
What is a delegation fee?
This is a fee charged by the validator node for their service. It is a percentage of the staking rewards you earn. The minimum fee is typically 2%, but it can vary depending on the validator.
Why should I consider staking my cryptocurrency?
Staking is a way to passively earn rewards on your holdings while contributing to the security and operations of a blockchain network. It allows you to put your assets to work rather than simply holding them. 👉 View real-time staking tools