What is Cosmos?
Cosmos is a network of independent blockchains connected by the Cosmos Hub, a proof-of-stake (PoS) blockchain based on Tendermint, a byzantine fault tolerant (BFT) consensus protocol.
Cosmos Hub validators participate in consensus by broadcasting cryptographic signatures, or votes, to commit blocks. Tendermint requires a fixed known set of validators, where each validator is identified by their public key. Validators attempt to come to consensus one block at a time, where a block is a list of transactions.
ATOMs are the native and only staking token of the Cosmos Hub. ATOMs represent the right to participate in consensus (vote, validate or delegate) for the Hub and earn inflationary ATOM block rewards and transaction fees in exchange.
Block rewards are paid to validators and delegators in newly issued (inflationary) ATOMs as an incentive for staking.
How to Stake Cosmos (ATOM) on Trust Wallet
Step 1 - Preparing your Cosmos tokens
Always download the most recent version of Trust Wallet for your Android or iOS device. Get Cosmos from exchanges and deposit it to your Cosmos Wallet. Open it up to confirm that your balance is showing correctly.
If you do not see Cosmos on your wallet, Tap the "+" sign and search for ATOM, then tap “+” again to add.
Step 2 - Access the Staking Platform
Tap on Staking is now Available to access the Staking Platform and then tap on Cosmos.
If you do not see “Staking is now available” on your iOS device, just tap on Browser and type on the address bar: https://platform.trustwallet.com/ .
For Android devices, tap on DApps and look for Staking Platform .
Step 3 - Choosing a Validator
Before you tap on “Stake”, please be advised of the following:
- Your ATOM will be locked, and you will start generating rewards.
- You can “Unstake” at anytime, but the unstaking process takes 21 days.
- Once unstaking is done, that is the time you can move/transfer your ATOM.
Tap on Stake then select which Validator you want to stake your Cosmos tokens.
Enter the amount you want to stake or tap on Available to select all tokens. Minimum amount is 0.01 ATOM .
Step 4 - Signing the Message
Tap on Stake to start the transaction. Do not forget to tap OK on the Sign Message . Wait for the transaction to complete.
Step 5 - Confirming the Transaction
Once the staking process is complete, you can verify the results by going to the Cosmos Staking Platform and check the Stakes list.
How to Check the Cosmos Blockchain Explorer
You can view your staking status by going to this explorer: https://cosmos.bigdipper.live/ and then do a search for your Cosmos address.
Staking rewards are released once you Withdraw (Unstake) your ATOMs. After doing a Withdraw transaction, you need to wait for 21 days before you can get the tokens back to your Cosmos Wallet.