Key Takeaways
1. You DO NOT need to unbond or unstake your tokens to begin using Yieldmos.
2. Navigate to the Blocks United Yieldmos page.
3. In the “Compound ATOM” box click “Select Strategy.”
4. If Blocks United is not automatically shown in the “Validator” box, click the “Add Validator” option and search for Blocks United.
5. Enter the number of ATOM tokens you would like to stake with Blocks United using the auto-compound strategy. Then, click “Next.”
6. Verify Blocks United is your selected validator and click, “Next.” Leave the “Use Fine Grained Allocation” unchecked, unless you are staking with more than one validator.
7. Confirm the details and enter your email address, if you’d like to be notified with updates on your position.
8. Approve the transaction in your wallet. If you did not provide your email address to Yieldmos, make a note of the strategy expiration on your calendar. You must renew every 3 months.
9. You will then see that you are staking ATOM as an active strategy and your staking rewards are being automatically compounded!
10. Click the icon in the top right corner to disconnect your wallet and you’re done!
To see screenshots, for links within the article and to see the FAQs please read this on our blog.
If you are staking ATOM tokens, good for you. You are taking advantage of an attractive yield and hopefully claiming airdrops too.
You probably also know that claiming and restaking rewards as often as possible is how to accumulate tokens the fastest. You compound to build your stack.
Manually claiming and restaking rewards is time consuming and eventually becomes a chore.
Wouldn’t it be nice if there was a way to automatically compound your ATOM staking rewards?
Enter Yieldmos!
Auto compound ATOM staking rewards with Yieldmos
Yieldmos uses the power of authz grants to claim and restake your rewards once per day for you.
YOU DO NOT NEED TO UNBOND OR UNSTAKE YOUR TOKENS TO BEGIN USING YIELDMOS!
Authz grants are given by your wallet to Yieldmos’ wallet. That means your wallet gives Yieldmos the ability to claim and restake your rewards. They do that once per day for you, known as daily compounding.
You still maintain complete control of your tokens. At no time does Yieldmos have the ability to send your funds anywhere.
The authz permission you grant to Yieldmos can be revoked at any time.
We encourage you to check out the official Yieldmos docs to learn more.
How to compound ATOM staking rewards with Yieldmos
- There are two ways to begin automatically restaking ATOM rewards with Yieldmos. You can navigate to the Yieldmos app,
or you can navigate directly to our Blocks United Yieldmos page.
- Select the “Compound ATOM” strategy and then connect your wallet, if you haven’t already done so.
- If Blocks United is not automatically shown in the “Validator” box, click the “Add Validator” option and search for Blocks United.
- Enter the number of ATOM tokens you would like to stake with Blocks United using the auto-compound strategy. Then, click “Next.” Remember, you must have at least 1 ATOM token already staked with any validator to use Yieldmos.
- Verify Blocks United is your selected validator and click, “Next.” Leave “Use Fine Grained Allocation” unchecked, unless you are staking with more than one validator.
- Verify the details and enter your email address, if you’d like to be notified with updates on your position. Then, click “Confirm.”
- A window will pop up for you to approve the transaction in your wallet. In this example we are using a Ledger connected to Keplr. Notice the expiration date for the auto-compounding strategy. The strategy is active for 3 months and then you must stake again with Yieldmos. So, if you did not enter your email address be sure to make a note on your calendar.
- You will then see ATOM staking as an active strategy and your rewards are being automatically compounded! Click the dropdown box next to your active strategies for options.
Clicking “Chain Dashboard” from the dropdown box next to your active strategies will display the number of ATOM you have staked, the current APY, and the number of days remaining before you must renew the strategy. The strategy must be renewed every three months to auto compound your staking rewards.
- Click the icon in the top right corner to disconnect your wallet and you’re done!
Automatically compounding staking rewards is a wonderful convenience and Yieldmos makes it simple.
Thanks for staking with Blocks United. Welcome aboard!
Be sure to check out the article: Staking ATOM Tokens: Passive Income from Crypto Assets
Nothing we say is financial advice or a recommendation to buy or sell anything. Cryptocurrency is a highly speculative asset class. Staking crypto tokens carries additional risks, including but not limited to smart-contract exploitation, poor validator performance or slashing, token price volatility, loss or theft, lockup periods, and illiquidity. Past performance is not indicative of future results. Never invest more than you can afford to lose. Additionally, the information contained in our articles, social media posts, emails, and on our website is not intended as, and shall not be understood or construed as financial advice. We are not attorneys, accountants, or financial advisors, nor are we holding ourselves out to be. The information contained in our articles, social media posts, emails, and on our website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation. We have done our best to ensure that the information provided in our articles, social media posts, emails, and the resources on our website are accurate and provide valuable information. Regardless of anything to the contrary, nothing available in our articles, social media posts, website, or emails should be understood as a recommendation to buy or sell anything and make any investment or financial decisions without consulting with a financial professional to address your particular situation. Blocks United expressly recommends that you seek advice from a professional. Neither Blocks United nor any of its employees or owners shall be held liable or responsible for any errors or omissions in our articles, in our social media posts, in our emails, or on our website, or for any damage or financial losses you may suffer. The decisions you make belong to you and you only, so always Do Your Own Research.
