On 16 June, Aventus announced new staking capabilities for AVT holders. The development enables AVT holders to stake their AVT on the Aventus Network (AvN), as well as withdraw their staked AVT, more autonomously and easily.
Previously, staking AVT was only available via the Aventus Validator Program, where staked AVT was held by one of 10 validators. But in response to strong demand from the Aventus community, this new method of staking allows users to become stakers with the click of a button – allowing users to stake their AVT themselves, as well as get rewards more frequently (on a 24-hour cycle) and withdraw their staked AVT more quickly (within two weeks, rather than having to wait one year since their first stake).
While other ways to stake AVT do exist, this method is the most user-friendly, requiring almost no technical expertise or experience.
You can find a complete step-by-step guide on how to purchase AVT and stake some of that AVT on the AvN below.
Staking Guide
This guide will walk you through purchasing AVT and successfully staking some of that AVT on the Aventus Network (AvN).
The first thing you need to do is download the Sezame Wallet, which is available on both App Store and Google Play.
Next, you need to either or recover your Aventus account on the Sezame Wallet, or purchase some AVT and lift it to the Sezame Wallet.
Recovering AVT
- Download the Sezame wallet (App Store and Google Play)
- Open the Sezame wallet.
- Tap on “CREATE OR IMPORT A NEW WALLET”
- Tap on RESTORE WALLET
- Enter a name and password for your new wallet
- Click and confirm the TC
- Tap on NEXT
- Enter the 12 word seed of your Aventus account.
- Tap NEXT
Purchasing AVT
AVT can be purchased from centralised exchanges such as Bittrex, Coinbase, and Gate.io, as well as from decentralised exchanges such as Uniswap.
If this is your first time staking AVT, we recommend purchasing over 101 AVT as the minimum stake for first time staking is 100 AVT.
Now that you have some AVT, you have to lift this AVT.
Lifting AVT
Lifting is the process of moving tokens from layer 1 (Ethereum) to layer 2 (Aventus). To help with this process, we’ve written a guide here.
Note: The public key you need for the lift can be found in the wallet.
To view your public key in the wallet:
- Log into the wallet
- Make sure you’re viewing NETWORK not CURRENCIES
- Click on “Aventus” under the “Aventus Network”
- Click on “Receive” in the upper right hand corner.
- Click on the “COPY PUBLIC KEY” button.
Once your AVT has been lifted and is now on the Aventus network, you should be able to view your new balance in your wallet.
Sezame Wallet & Staking
Fantastic! Now you have AVT in your Sezame Wallet.
Staking
Now for the exciting part: staking your AVT on the AvN by submitting a transaction to the AVN. For this guide, we’ll show a simple transaction staking 100 AVT.
- Log into your wallet
- Make sure you’re viewing NETWORK not CURRENCIES
- Click on “Aventus” under the “Aventus Network”
- Make sure you’re on MAINNET by clicking the profile image in the upper right corner of the wallet. The screenshot below shows a wallet connected to the mainnet.
- Click on “Manage Staking”
- Click on “Stake” and read the terms and conditions before proceeding.
- Enter in the amount in AVT you want to stake.
- NOTE: Because there is a small transaction fee for staking, you cannot stake 100% of your AVT – you’ll need to reserve 0.01% of your AVT total for this transaction fee, so please only stake 99.99% of the AVT you wish to stake.
- Click on “Preview Staking” and confirm the “Amount to Stake”
- Then click on “Sign and Submit” to sign the transaction and submit the transaction.
It takes a few moments for the blockchain to process the transaction and for the wallet to return to you the state of the transaction after polling.
If your staking transaction succeeded, you should now be able to see your STAKING BALANCE in your wallet and also your AVAILABLE BALANCE.
STAKING BALANCE is the amount of AVT you currently have staked in the network. AVAILABLE BALANCE is the amount of AVT you can transfer to other accounts and also stake with again.
What next?
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