Want to dive into staking Gnosis (GNO) and help shape the future of decentralised finance? Gnosis is more than just a blockchain; it’s a vibrant ecosystem that’s redefining how payments work, making decentralised finance accessible for everyone.
At the heart of this ecosystem is Gnosis Chain, a secure and robust Layer 1 network designed for resilience and scalability. GNO isn’t just any token; it serves as both the staking token for Gnosis Chain and the governance token for GnosisDAO, allowing holders to actively influence the future of the platform.
Staking GNO gives you a voice in GnosisDAO’s decisions while offering potential rewards as the ecosystem grows. If you’re excited about earning and being part of a visionary crypto project, staking GNO could be your next big move.
How To Stake Gnosis (GNO)?
Staking Gnosis (GNO) tokens is a rewarding way to contribute to the security and functionality of the Gnosis network while earning staking rewards. There are three primary methods to stake your GNO: running a node, using liquid staking, and delegating your GNO through ANKR. Each approach offers different advantages and levels of involvement, allowing both beginners and seasoned users to participate effectively. Let’s dive into each method, including step-by-step instructions to get started.
1. Run A Node On the Gnosis Network
Running a node is a fundamental way to support Gnosis’s decentralised, community-run blockchain. As a node operator, you help validate transactions and secure the network. While running a node is technically intensive, Gnosis offers both beginner-friendly tools and advanced guides to make the process manageable for different users.
Getting Started with Node Setup
- Choose Your Setup: Gnosis supports two types of setups for node operators. Beginners can start with “1-click” tools that simplify the process, while advanced users can opt for a comprehensive, manual guide.
- 1-Click Tools:
- dAppNode: A user-friendly application that helps set up a node with minimal effort. Download and install the dAppNode application, then follow the on-screen instructions.
- Stereum: Another beginner-friendly tool that allows users to set up a node easily. Download Stereum and configure the settings as per your requirements.
- Nethermind Sedge: This is designed for users who want a little more control without diving deep into advanced configurations. Download Nethermind Sedge and follow the prompts.
Advanced Node Guide for Technical Users
For users with technical expertise, Gnosis provides a complete guide that covers all the necessary steps, from installing dependencies to configuring the node. This advanced setup is ideal for users who want full control and customisation.
Running a node ensures the Gnosis network remains decentralised, resilient, and resistant to single points of failure, ultimately safeguarding the infrastructure and enhancing the chain’s stability.
2. Liquid Staking With StakeWise
Liquid staking enables GNO holders to participate in staking without managing a node themselves. By using a liquid staking provider like StakeWise, users receive tokenised staked resources (sGNO or rGNO) that they can use for yield farming, borrowing, or other decentralised finance activities while still earning staking rewards.
Steps to Liquid Stake on StakeWise
- Step 1: Set Up Your MetaMask Wallet
MetaMask is a widely used wallet in the Gnosis ecosystem, enabling you to stake, use blockchain apps, and manage various tokens in one place. Download and set up MetaMask if you don’t already have it. - Step 2: Access StakeWise Staking Portal
Go to the StakeWise portal, and connect your MetaMask wallet. This connection allows you to interact with the staking interface securely. - Step 3: Choose Your Staking Amount
Enter the amount of GNO you wish to stake, read and accept the terms, and then confirm the transaction in your MetaMask wallet. You’ll be required to pay a Gnosis gas fee, which varies with network activity. - Step 4: Receive sGNO Tokens
Once the transaction completes, you’ll receive sGNO tokens as a representation of your staked GNO. These tokens can be used across various DeFi applications for added returns on your staked assets.
Liquid staking is ideal for users who wish to maximise their earning potential while still contributing to the Gnosis network’s security.
3. Delegated Staking With ANKR
Delegated staking with ANKR allows users to stake their GNO without having to run a node. In collaboration with Gnosis, ANKR provides a non-custodial staking solution that is trustless, meaning users maintain control over their funds. This setup allows users to stake their GNO as mGNO, choosing from various node providers.
Steps to Delegate Stake on ANKR
- Step 1: Set Up Your MetaMask Wallet
Ensure you have a MetaMask wallet ready. MetaMask is essential for staking on the Gnosis network. - Step 2: Convert GNO to mGNO
Go to the GNO-to-mGNO converter tool and connect your MetaMask wallet. Choose the amount of GNO you wish to convert to mGNO, then confirm the transaction. Keep some xDai in your wallet for transaction fees. - Step 3: Go to the ANKR Staking Portal
Head over to the ANKR staking portal, connect your wallet, and ensure you’re on the Gnosis network. In the ‘Delegated Staking’ section, click ‘Stake’ under mGNO. Choose a node provider, enter your staking amount, and confirm the transaction in your wallet. - Step 4: Track Your Staking Portfolio
Use the ANKR dashboard to monitor your staked GNO rewards and check the staking ratio, validator count, and other metrics to optimise your staking strategy. - Step 5: Unstake GNO
If you wish to unstake, initiate a manual withdrawal by invoking the claim Withdrawal method on the Gnosis Chain. This process requires attention to detail but ensures full control over your assets.
Delegated staking via ANKR provides flexibility and control, allowing users to earn staking rewards without managing technical infrastructure.
Popular Video Guides On Staking Gnosis (GNO)
Best Places To Stake Gnosis (GNO)
ANKR provides a powerful Web3 infrastructure with a secure staking platform tailored for Gnosis (GNO) tokens. Through delegated staking, users can stake their GNO tokens across various node providers, including nodes managed by ANKR. The platform’s trustless and non-custodial nature ensures high APYs, with security enhanced by slashing protection via an insurance pool. ANKR’s intuitive interface supports multiple Proof-of-Stake (PoS) networks, making it accessible for beginners and advanced stakers alike.
Pros:
- Trustless and non-custodial staking process.
- Advanced security measures, including slashing protection.
- Easy-to-use interface with broad support for PoS networks.
- Consistent high APYs on staking.
Cons:
- Limited support for certain token types beyond GNO.
- Staking returns may vary based on network performance.
- Some node providers may have additional fees.
StakeWise is a decentralized finance (DeFi) protocol designed for users seeking a secure and user-friendly platform to stake Ethereum (ETH) and Gnosis (GNO) tokens. It stands out by offering liquid staking options, allowing users to earn staking rewards without sacrificing liquidity through its liquid staking tokens, osETH and osGNO. With StakeWise, users can select their node operators, minimizing risks like slashing and increasing their potential returns. Additionally, the platform supports custom staking pools, making it ideal for individual investors, institutions, and DAOs alike.
Pros:
- Allows ETH staking without the need to run a node.
- Secure and dependable staking platform.
- Enables earning rewards with reduced risk.
- Easy to set up and navigate.
Cons:
- Requires some understanding of DeFi for optimal use.
- Staking rewards may vary based on market conditions.
Coinbase is a top-tier cryptocurrency exchange known for its secure and user-friendly staking platform, supporting cryptocurrencies like Ethereum, Tezos, Solana, Cardano, Cosmos, and Gnosis. The platform enables users to earn rewards by staking their holdings, which bolsters the security and efficiency of blockchain networks. Coinbase’s intuitive design makes it accessible for both beginners and seasoned investors, offering seamless navigation and educational resources. These resources help users understand staking fundamentals, empowering them to make informed choices while managing their crypto assets.
Pros:
- High APYs on staking rewards.
- Easy-to-navigate interface suitable for all experience levels.
- Supports a wide range of popular cryptocurrencies.
- Offers valuable educational resources on staking.
Cons:
- Transaction fees may apply to certain staking actions.
- Limited support for tokens outside of the Proof-of-Stake (PoS) model.
Benefits Of Staking Gnosis (GNO)
Here’s a closer look at the benefits of staking Gnosis.
Earn Rewards
One of the primary benefits of staking GNO is the potential to earn rewards in the form of additional GNO tokens. When you stake, your tokens are locked up and actively used within the network. Over time, rewards accrue based on your staked amount, and you can claim these rewards upon exiting the staking process. This reward structure incentivizes long-term holding and provides a tangible return on your investment.
Strengthen Network Security
Staking plays a vital role in securing the Gnosis network. When you stake your GNO, you contribute to validating transactions and supporting the network’s operations. This participation strengthens the network’s overall security by making it more resilient against attacks. The more individuals stake their GNO, the more secure and reliable the Gnosis blockchain becomes for all users.
Support Decentralisation
Decentralisation is crucial to the integrity and reliability of any blockchain. By staking your GNO tokens or running a node, you contribute to creating a more decentralised and resilient network. This process distributes power across a larger number of stakeholders, reducing the risk of centralised control and ensuring that the Gnosis network remains open and fair for all participants.
Earn Passive Income
Staking GNO tokens offers a unique way to earn passive income. Instead of actively trading or investing time in other strategies, you can simply hold and stake your GNO to generate earnings. This passive income stream grows as your rewards accumulate, allowing your holdings to increase over time without additional effort.
Participate In Governance
Staking GNO not only provides financial benefits but also gives you a voice within the Gnosis ecosystem. Many PoS networks, including Gnosis, allocate governance rights based on the number of tokens staked. As a staker, you gain the ability to vote on key decisions, proposals, and updates that influence the platform’s future. This involvement allows you to help shape the direction of Gnosis and actively engage in the community.
Frequently Asked Questions
Where Can You Purchase Gnosis Tokens?
You can buy Gnosis (GNO) tokens on popular cryptocurrency exchanges such as Binance, and Coinbase, or decentralized exchanges (DEXs) like Uniswap. However, after purchasing, it’s best not to leave your tokens on the exchange. For enhanced security, transfer them to a non-custodial or cold wallet like a hardware wallet.
What Are The Best Storage Options For Gnosis Tokens?
For storing Gnosis tokens securely, hardware wallets like Ledger and Trezor are ideal choices. Non-custodial wallets like MetaMask, Alpha Wallet, and Coinbase Wallet also offer secure storage. These wallets allow you to manage your assets directly, providing increased security and control over your GNO tokens.
What Is the Minimum Requirement For Staking GNO Tokens?
To stake Gnosis tokens, the minimum amount depends on the staking method. If you’re running a node, you need 32 mGNO. However, for liquid staking pools, a smaller threshold of 0.001 GNO is required, making staking accessible to a broader range of investors with varying GNO holdings.
How Do sGNO and rGNO Differ in Gnosis Staking?
sGNO represents your initial staked GNO in the staking pool. Transferring or trading sGNO affects your rewards since you reduce your staked amount. rGNO, however, accumulates over time as staking rewards, updating periodically based on your staked GNO balance and pool performance.
