This means not only can you store, send and receive you EVMOS tokens, but native staking means it’s quicker, easier and more secure than ever to stake your EVMOS tokens!
The Evmos networks is a scalable, high-throughput Proof-of-Stake blockchain that is compatible with Ethereum, built using the Cosmos SDK (further in-depth reading linked at the bottom of this page).
The EVMOS token is from an ‘Airdrop’, which users were able to claim through the EVMOS website if they were eligible. These users had to use certain protocols and tokens to be eligible - exact criteria is outlined on their website.
The token appears in 2 forms in Trust Wallet (see image below). They mirror each other (i.e. the balance always will be the same for both) but are used for different things:
- Sending and receiving of EVMOS coin and ERC20 tokens on EVMOS chain.
- Use with Wallet Connect
- Use with DApp browser
- Native EVMOS (Cosmos)
- Also sending and receive EVMOS coin (Cosmos)
Please note: the address for each token will be different. Ensure you are sending the correct token standard to your correct address!
Your ‘Native EVMOS’ is the token that you will be staking in your Trust Wallet. But, don’t worry - it will be automatically selected for you in the staking window.
Any staked amount will be shown in your total Native EVMOS balance, but not in your EVMOS balance.
2 - Why natively Stake EVMOS in Trust Wallet?
- Since Trust Wallet is multi-chain at its core, it is easier to discover the best APY% across chains and validators, stake in a few clicks and see staking rewards across tokens in one single wallet.
- Native staking of EVMOS eliminates the fees you see in other wallets, because many of them rely on external protocols or smart contracts.
- Once you have EVMOS in your wallet, you can start staking in just 3 taps.
Trust Wallet is an easy to use, true multi-chain noncustodial wallet, which allows you to store and manage over 5 million crypto assets including NFTs across 65+ blockchains. No more storing your assets across multiple custody wallets or exchanges! You’ll have peace of mind knowing all your assets are in one safe place.
Your private keys are stored on your device and your assets on-chain meaning you are in full control at all times. Trust Wallet gives you the ability to natively buy, swap and stake your favourite crypto without having to leave the app and also connect to dApps with the in-built DApp browser.
Trust Wallet is used by over 50 million people worldwide!
Don’t have Trust Wallet…? Download here: Trust Wallet App
4 - How to Stake EVMOS in your Trust Wallet
Once you have some EVMOS token in your Trust Wallet, head to the ‘Discover’ tab (image 1), then tap on the staking section to open up the staking page (image 2). Now tap on EVMOS, to open the token window and tap on ‘stake’ (image 3 & 4). Alternatively, you can head to the token in your wallet and select the ‘stake’ icon in the token page (also image 3 & 4),
Select ‘Stake’ again and choose from the list of validators to proceed (image 1) by tapping on them - a tick should appear next to the validators you’ve selected.
Once the EVMOS tokens are staked, they will be locked to the validators you have chosen. Staked EVMOS takes 21 days to unstake. You will not be able to move your tokens while they are staked.
Input the amount of EVMOS you want to stake. Always leave some tokens for staking/unstaking fees. Tap on Next to proceed. Review the transaction and then tap on Confirm.
Next, you’ll be taken back to your wallet where you’ll see the pending ‘transaction’. Just wait for the network to process your staking request, then it will show up in your wallet as a total staked value! See the ‘Available/Staked’ sections. Available is what you have available to use currently in your wallet and staked is your locked staking total.
Don’t forget, you won’t be able to use your tokens while they are staked/locked on the EVMOS blockchain to your chosen validators.
After submitting the transaction, wait for the EVMOS blockchain to process and confirm it. A stake transaction will show up on the transaction list. Go back to the staking status screen to see the current overview of the staked tokens.
5 - Staking Rewards
Validators and delegators help secure the network through staking and will sometimes charge commission for their services. This is neither controlled by Trust Wallet, nor do Trust Wallet take any proportion of this commission.
The APY% will be visible from each EVMOS validator before you decide to stake.
Please note: The APR% will decrease, as the number of people staking on the nodes increase - this is due to how the blockchain and nodes operate.
Don’t worry though, we will always show you the APR% you will receive, prior to you staking.