Staking ATOMS with Figment:
- Experienced: Early test-net participant, genesis block producer and maker of Hubble
- Reliable: 100% reward success
- Trusted: Serving world’s largest ATOM holders + Interchain Foundation
- Secure: The world’s most advanced physical IDC + multi-cloud staking infrastructure
- Transparent: Figment is a venture funded, registered Canadian company, based in Toronto. Canada offers stability, rule of law and clear crypto regulation
- Safe: Maintain custody & control of your ATOM at all times
- Compliant: Track real-time, historical, and future estimated returns with Hubble including the only comprehensive and tax compliant daily reward tracking
- Governance: Active participant in Cosmos community & governance
- SLA: 100% missed reward guarantee. Industry leading delegation Agreement
- Rewards: Receive 88% of staking rewards (12% fee)
- Figment Prime: Available for > 100,000 ATOM. Contact us for more information
Already staking? Use Lunie’s web interface to re-delegate to Figment.
Tokens on an exchange? Withdraw your ATOM to a wallet you control using Lunie or imToken.
Figment’s validator address to stake: cosmosvaloper1hjct6q7npsspsg3dgvzk3sdf89spmlpfdn6m9d
Using a command-line interface (CLI):
It will take approximately 5 minutes to stake using a CLI on Windows, MacOS, or Linux.
You’ll need to gather the following info:
- Figment Validator Address: cosmosvaloper1hjct6q7npsspsg3dgvzk3sdf89spmlpfdn6m9d
- Amount you want to stake: example 100000000000uatom
- Gas price you want to set: example 1uatom
- Your key name: example myKeyName
Next, you will run three commands that do the following:
- Connect to the Figment Cosmos Full-Node
- Configure your connection
- Make a 100,000 ATOM delegation (change as needed). Note the use of micro-ATOM units below (uatom).
Staking Commands to Run
Run these commands in your command-line terminal to stake your ATOMs with the Figment Validator:
gaiacli config node cosmos-node-1.figment.network:26657 gaiacli config trust-node false gaiacli tx staking delegate cosmosvaloper1hjct6q7npsspsg3dgvzk3sdf89spmlpfdn6m9d 100000000000uatom --from myKeyName --gas auto --gas-prices 0.025uatom --chain-id cosmoshub-2
You can also refer to the official Cosmos staking guide.
Have questions or need help? Contact Us
Cosmos provides tools that make it easy to build a new, custom-designed blockchain that may interoperate with an arbitrary number of others in the Cosmos network. Its transactions are fast and low-cost, and the network is scalable. Cosmos is intended to break the silos of blockchain economies by enabling assets to be transferred between one another. A custom Cosmos blockchain can be securely connected with other blockchains, increasing the rate of adoption and liquidity.
The Cosmos SDK makes blockchain applications simple and easy to understand for developers. It also enables the simple creation of new, application-specific blockchains with a mix of pre-built modules and custom modules. This developer-friendly, modular framework allows developers to fully customize their decentralized applications in any language and focus on business logic. In the burgeoning Cosmos ecosystem, Binance Chain is one of the many iterations based on the Cosmos SDK. Dive deeper here.
The Cosmos token (ATOM) is used by validators to stake on the Cosmos Hub in order to vote and to earn fees and rewards for securing the network. You don’t have to be a validator to vote or earn rewards–you can delegate your stake to an existing validator such as Figment.
Creating Cosmos Governance ProposalsMonday, April 8, 2019
When thinking about and participating in governance proposals, our process will be a bit different from conventional legal practices, because a cryptogovernance framework for the Cosmos Hub has yet to be established.
Full Disclosure: Figment’s Cosmos Validator InfrastructureTuesday, June 4, 2019
There have been a few operational incidents in which large validators on the Cosmos Hub experienced prolonged downtime
Takeaways from the Cosmos Interchain Conversations ConferenceFriday, June 14, 2019
We spent the last two days in sunny Berlin for the Interchain Conversations Conference put on by the Cosmos/Tendermint team and the Interchain Foundation.
Cosmos Game of Stakes Learnings and QuestionsThursday, February 7, 2019
As we near the end of the great Game of Stakes (GoS) experiment, we wanted to take stock of what we’ve learned and share the new questions we are wrestling with.
Delegate to Any Cosmos Validator Using Your Ledger on HubbleThursday, March 21, 2019
You can now securely delegate Cosmos Atoms to your favorite Validator using your Ledger in Hubble.
Evaluating a Cosmos Validator: Securing the Private KeyMonday, March 4, 2019
In this post we’ll dive into security and Private Key management, and discuss the tradeoffs of different approaches. As a Delegator, you should have a good understanding of your Validator’s approach so you can better understand your slashing risk for Atom loss.
Frequently Asked Questions
Do I maintain custody and control of my ATOMS when staking?
You maintain custody of your ATOM at all times.
Your ATOM stay in your wallet and you can change your delegation at any time.
All ATOM token transfers, including rewards, are processed within the Cosmos protocol. Figment never has custody of your tokens or rewards.
There is a 21 day un-bonding period to transfer your tokens after staking. During the un-bonding period your ATOMS are illiquid and may still be subject to slashing.
What are the risks of staking ATOMS?
Figment provides a 100% missed reward guarantee for any missed rewards due to liveness (downtime).
Figment has a perfect operating record and has never missed rewards for downtime or been slashed.
How do I acquire Cosmos ATOM Tokens?
The following exchanges trade in ATOM:
Kraken offers a platform to trade traditional currencies like the US dollar (USD) and Euro into Cosmos ATOM.
Check out MyCrypto’s guide for buying ETH with US dollars. Once fiat currency like USD is traded for cryptocurrency (like ETH) you can use the above exchanges to trade into other cryptocurrencies including ATOM.
- What are some real world use-case examples for the Cosmos protocol?
- What are some examples of the growing Cosmos ecosystem?
What is "slashing" in Cosmos?
In Cosmos validators have poor performance or violate protocol rules my have 5% of tokens staked slashed
Slashing occurs when a validator signs signs two blocks at the same height called double signing. This is most likely to occur when a validator mistakenly brings on a back-up validator when their primary validator is still online.
For this reason Figment has priorized avoidance of double signing over liveness (uptime). There is no slashing for limited validator downtime. Be cautious of validators that have only cloud based infrastructure or complicated software based redundancy systems aimed at minimizing liveness. Complicated redundant back-ups systems can result in double signing and thus slashing.
How does a node qualify to be in the active set?
There is no minimum amount of tokens required to validate, as long as the total delegation allows the validator to breach the top 125 among its peers.
What is the calculation for each type of reward?
There is only one type of reward: inflationary network rewards. Currently the Cosmos network pays delegators roughly 10% rewards in ATOM per year. The annual inflation rate changes depending on the percentage of the network tokens staken. When less than two-thirds of all tokens are staked, inflation can increase up to 20%. When over two-thirds of tokens are staked the network inflation rate can go as low at 7% per year. As of August 2019 the network staking rate is over 90%.
How are rewards disbursed to the node?
Delegators need to withdraw their rewards from the smart contract after every block proposed by their validator and then decide to redelegate if they wish to compound their rewards. Validators are never in control of the rewards.
Are rewards considered liquid (available) or are they locked for a period?
Rewards are liquid and do not go through the same unbonding period as the staked tokens.
Can staking rewards be tracked for tax reporting?
Rewards can be tracked via Hubble, Figment’s multi-blockchain validator explorer.