Comprehensive guide to staking Aptos ($APT) on Potem wallet

1. What is Aptos?

Aptos is a layer 1 blockchain developed by former members of Facebook's Diem project, Mo Shaikh (CEO) and Avery Ching (CTO). Aptos operates on a Proof of Stake mechanism and uses the Move programming language, supporting the creation of secure and highly scalable smart contracts.

The latest version of this blockchain operates based on the AptosBFT consensus mechanism, which increases transaction efficiency by reducing latency and enabling the processing of multiple transactions simultaneously.

As a blockchain undergoing continuous upgrades, Aptos is on track to achieve significant performance capabilities, aiming to handle 100,000 transactions per second.

2. Token Aptos ($APT)

The APT token is the native token on the Aptos blockchain. It is used to pay transaction fees and participate in network governance.

The design of the APT token aims to ensure interoperability within the Aptos ecosystem and streamline the management of various types of tokens, including both fungible tokens and NFTs.

Users have full control over their APT tokens, which can be staked with validators on Aptos to earn rewards. Moreover, when users stake APT tokens on the Potem Network, they will have the opportunity to receive airdropped tokens from Potem Network (when the project launches its token in the future).

3. Guide to staking APT on the Potem Wallet

3.1. Guide to installing and using the Potem Wallet

Step 1: Install the Potem Wallet on Google Chrome.

Visit the official Potem website here
Select "Potem Wallet.

*Instructions for installing Potem wallet*

Click on "Add to Chrome" to install the application.

Step 2: Create wallet

Select "Create wallet".
Enter your password (make sure to choose a strong password with at least 9 characters, including special characters and a combination of uppercase and lowercase letters).
Confirm your password once more ⇒ select "Agree to the terms".

Create Potem Wallet

Successfully create the wallet and select "Finish".

Step 3: Confirm seed phrase (the 12-word secret phrase).

Select "Resolve" and the system will display a set of 12 secret words.
Note: Copy these 12 words and store them securely. Do not disclose these 12 words to anyone to avoid loss of assets.

*Confirm the Seed Phrase for your Potem wallet.*

Step 4: Deposit APT into the wallet to prepare for staking.

Select "Copy Potem Wallet Address."
Send APT to the copied wallet address.

Potem wallet address

3.2. Guide to Staking Aptos ($APT) on the Potem wallet

Step 1: Visit https://liquidswap.com/#/aptos-staking/validators and connect your Potem Wallet address.

Step 2: Select a validator to participate in staking.

Note: I will prioritize selecting validators with low commission fees to optimize costs.
Choose validators with high Active, Delegators, and Total Staked parameters.
For example, in the image, I will select to stake with Evestake node.

Step 3: Enter the amount of APT you wish to stake.

Note: Make sure to prepare a minimum of 11 APT to stake on this node.
Confirm the transaction for successful completion.

*Enter the amount of APT you want to stake*

Step 4: Unstake token APT

Select "Unstake" and enter the amount of APT you wish to unstake.
If you want to unstake APT, you need to wait until the unlocking period ends by monitoring the "Next Unlock in" section. Each unlocking period lasts for 30 days, meaning the unstaking process may take up to 30 days for you to receive the tokens back into your wallet.

4. Conclusion

Above is the complete guide on how users can stake Aptos ($APT) on the Potem Wallet. It's important to manage and secure your wallet carefully to prevent any unwanted loss of funds. Additionally, stay updated with information from Potem and Aptos to not miss out on potential airdrop opportunities in the future, if any.

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