This is a guide for users to learn step-by-step how to stake NOM tokens using Keplr web wallet. Before explaining how to stake, let’s first look at what is Nomic.
1. What is Nomic and NOM token?
Nomic’s first product is the Bitcoin Bridge, bringing Bitcoin to Cosmos. The bridge creates a new asset, nBTC, which is IBC-enabled and fully backed by BTC. They have designed a unique, permissionless protocol which allows anyone to easily deposit BTC in exchange for nBTC, or withdraw nBTC in exchange for mainnet BTC. More info in our previous article:
2. HOW TO STAKE NOM tokens?
NOM tokens staking is quite straight-forward and simple using Keplr. Let’s look at how to stake NOM tokens with Ubik Capital step-by-step both via Keplr web browser extension.
Staking NOM tokens via Keplr Web Browser Extension Wallet
Keplr is a non-custodial blockchain wallet for web pages that allows users to interact with blockchain applications. Keplr Wallet is the first and leading IBC-enabled wallet for the Nomic ecosystem.
Let’s start with step-by-step staking guide with Keplr web wallet.
1- Go to Keplr Website & Install Keplr Browser Extension
In order to stake NOM tokens, you need to go to https://keplr.app/ and download the Keplr chrome extension by clicking the download button on the website:
2- Create or Import Existing Account Using Keplr
After installing the Chrome extension, you need to either create a new wallet or import an existing one. We will proceed by creating a new wallet. After clicking on the extension on Chrome, click on the “Create new account” button on the page that opens:
After clicking on the button, you need to set up a password and save the mnemonic seed. Then click next. (PLEASE NOTE THAT IF YOU LOSE YOUR MNEMONIC SEED, YOU WON’T BE ABLE TO GET ACCESS TO YOUR WALLET. DO NOT SHARE YOUR MNEMONIC SEED WITH ANYONE AND SAVE IT IN A WAY YOU WON’T LOSE IT.)
The wallet is successfully created. Now you can stake NOM tokens with your wallet.
3- Staking NOM tokens Using Keplr Wallet
After creating the wallet, go to https://app.nomic.io/ and click on the “Connect Wallet” button:
A new window will open. Click on “Approve” to add Nomic to Keplr Wallet.
If you haven’t stake it before, you can simply search for Ubik Capital and click “Manage” in the right side of “Ubik Capital”:
A new window will open. Click on “Delegate” to add Nomic to Keplr Wallet.
You need to enter the amount of NOM tokens you want to stake on the next page. After entering the amount, click on the “Delegating” button and after that on “Approve” button (Please note that staking will lock your funds for 14 days):
Congratulations, you staked your NOM tokens using Keplr web wallet successfully!