WAVES tokens of the Ethereum network’s standard, ERC-20, offer users attractive staking opportunities. This is a step-by-step guide, explaining how to stake ERC-20 WAVES.
What is ERC-20 WAVES?
The ERC-20 version of the WAVES token was created in October 2020, with the launch of a gateway facilitating token transfers between the Waves and Ethereum networks.
The ERC-20 WAVES smart contract: 0x1cf4592ebffd730c7dc92c1bdffdfc3b9efcf29a
WAVES tokens that have been ported to Ethereum are locked in the Waves blockchain. The supply amounts confirming this statement can be found and audited here.
Get ERC-20 WAVES
Option 1: Buy ERC-20 WAVES on an exchange.
ERC-20 WAVES is already supported by some crypto exchanges. Therefore, you don’t have to transfer tokens from the Waves network. As for now (February 2021), the WAVES token can be withdrawn to an Ethereum wallet from the Kucoin exchange. WAVES can also be bought on Uniswap.
Option 2: Transfer WAVES from the Waves network to Ethereum.
2) Deposit WAVES to your account (by clicking the “Receive” button) or buy it on the market (the “Trading” section) with another coin.
3) Go to the Wallet tab, find the WAVES asset and press the “Send” button. Insert your Ethereum address in the Recipient field. It will be recognized as a gateway transfer. The minimum amount for withdrawal is 1 WAVES. Please, pay attention to transaction and gateway fees.
4) Press Continue. That’s it!
ERC-20 WAVES is staked automatically.
All ERC-20 WAVES tokens are staked automatically. You don’t have to take any extra actions. You will receive daily staking rewards to your ERC-20 wallet.