How do I stake my Flare token?
Staking is the process of maintaining a particular amount of cryptocurrency in a wallet or platform for a set period of time in order to keep the network running, validate transactions, and receive rewards.
Flare staking rewards : Available exchanges & countries
Platforms available for FLARE staking are CEX.IO, Kraken, Uphold.
Countries available staking are US, Canada, European Union member nations (varies by country), UK, Switzerland, Singapore, Australia, Japan, South Korea, Hong Kong, Israel, UAE, Brazil, Argentina, and South Africa
Flare Staking Rewards: Estimated Annual Rewards (%) for Flare
- CEX.IO -5%
- Kraken – 1 – 5% Flexible
- Uphold – 11%
Where Can You Stake Flare?
CEX.IO
- Create an account in CEX.IO
- Complete KYC process (ID proof)
- Deposit crypto into your CEX.IO Wallet
- Navigate to the staking section (Find in EARN tab)
- Choose the cryptocurrency and staking option
- Confirm and start staking
- Monitor your rewards
Kraken
- Create account and complete KYC (ID PROOF)
- Deposit crypto
- Navigate to the staking section (Find in EARN section)
- Choose the crypto and staking option
- Confirm and start staking.
Uphold
- Create and verify your account (ID PROOF) (https://uphold.sjv.io/CW360)
- Fund your account
- Choose the supported crypto for staking
- Navigate to the staking page (Find in PRODUCT & SERVICES Section)
- Select the staking option and confirm
- Monitor your staked cryptocurrency.
What wallet supports Flare tokens?
Flare tokens are supported by the following wallets:
- Hardware wallets Ledger Nano S and Ledger Nano X
- Browser extension wallet Metamask
- Mobile wallet Trust Wallet
- Web-based wallet MyEtherWallet (MEW)
- Atomic Wallet desktop and mobile wallet
How do you wrap FLR tokens?
To wrap FLR coins, you can use the Flare Finance platform, which is an ecosystem of DeFi protocols on the Flare Network. FLR tokens are wrapped by transforming them into a wrapped version of the token that is compatible with the Ethereum Virtual Machine (EVM) and may be used in other DeFi protocols.
Here are the steps for wrapping FLR tokens on the Flare Finance platform:
- Connect your suitable wallet (such as Metamask) to the Flare Finance platform.
- Navigate to the “Swap” area of the platform.
- Choose FLR as the token to wrap.
- Enter the quantity of FLR you wish to wrap and click “Wrap.”
- Confirm the transaction and pay the appropriate petrol fees.
You will receive wrapped FLR (wFLR) tokens in your wallet after the transaction is verified. Other DeFi protocols that accept wFLR, such as Uniswap, SushiSwap, and Aave, can use these tokens. It is vital to note that you will need to unwrap your wFLR tokens before you can use them on the Flare Network.
Can you stake flare on ledger?
Yes, if a Ledger hardware wallet that supports Flare is available, Flare (FLR) tokens can be staked on Ledger Live. Flare is currently supported by the Ledger Nano X and Nano S hardware wallets.