AXM Staking
Complete guide to staking AXM coin on Axiome Chain: detailed overview of reward types and risk management.
DPoS (Delegated Proof of Stake) delegation is a mechanism for securely transferring (locking) your AXM in a validator’s stake. This mechanism was developed for the following purposes:
Strengthening the stability of Axiome Chain. The more AXM is locked, the harder it is to influence consensus.
Mining new AXM - ✅ Completed
Providing the community with an attractive source of rewards.
Reducing the circulation of free coins.
Types of rewards
There are two types of staking rewards:
1. Share of Community Pool income
With the development of the Axiome ecosystem, the Community Pool will become one of the most attractive ways of generating profit in the cryptocurrency market.
This solution is an exceptionally effective method of rewarding stakers with multiple liquid rewards at once.
The method of distributing the pool’s profit is extremely simple:
Just go to the block explorer.
Open the Community Pool section.
Connect your wallet.
Claim your accumulated rewards with a single click!
Read more about what the Community Pool is here.
2. Share of network fees
All transactions in Axiome Chain require a fee paid to validators for execution. 30% of the collected fees are burned, and the remaining amount is distributed as follows: 70% to the validator’s delegators and 30% to the validator itself for maintaining and improving its node.
Example:
The total fee from all transactions included in a block amounted to 100 AXM. 30% (30 AXM) is immediately burned.
Seven validators participated in signing the block, splitting the remaining fee equally (10 AXM each).
You delegated 200 AXM to one of these validators, while the validator’s total stake is 1,000 AXM. Thus, your share in the validator’s stake is 20%. This means your reward is 20% of the fees collected by the validator, minus the validator’s 30% commission.
Result: (10 – 30%)* 0.2 = 1.4 AXM.
Choose reliable validators. If a validator misses a block, you won’t earn rewards for that block.
In the block explorer, pay attention to the Uptime indicator. The higher this indicator, the more stable the validator.
Delegate to multiple validators to minimize the risk of missing out on rewards.
How to delegate AXM?
Step 1. In the Axiome Wallet mobile app, go to the “Staking” tab and open the “AXM Staking” section.
Step 2. Click the “Delegate” button.
Step 3. Choose a validator, specify the amount and click “Confirm.” Your AXM will be transferred from your wallet to the stake of the chosen validator.
Where do delegation rewards go?
All delegation rewards accumulate in the same section (AXM Staking) under the “Delegated” card. Click “Claim” to transfer rewards to your wallet.
How to undelegate AXM?
Step 1. Go to the “AXM Staking” section and click the “Undelegate” button.
Step 2. Select the validator and enter the amount for undelegation. Then click “Confirm.”
After 30 days, your AXM will be moved back to your wallet minus a 10% burn fee.
You can have a maximum of 7 active undelegations within a single validator.
How to cancel undelegation?
If you cancel an active undelegation before it is completed, your AXM will return to the validator’s stake, and the 10% burn will not occur.
Step 1. Find the transaction titled “Initiating Undelegation” in your AXM wallet’s transaction history.
Step 2. Click on this transaction and in the pop-up window, press the “Cancel” button.
Step 3. Refresh the page, find the same “Initiating Undelegation” transaction again, and make sure there is a red cross next to the amount, confirming that the undelegation was canceled and the AXM returned to the validator’s stake. You will also see a new transaction appear in your history: “Cancel Undelegation”.
Canceling undelegation resumes rewards on your AXM.
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