Crescent: Staking Guide

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Crescent Network is a DeFi Hub that provides an array of intraoperative tools for the Cosmos Ecosystem in a unique approach to enhance capital efficiency, maximize potential financial returns, and manage risk effectively. It has three main activities: 

  • Crescent DEX: A marketplace that seeks to maximize capital through a hybrid model of an automated market maker (AMM) and order book methodologies.
  • Crescent Boost: A combined product of lending, hedging, and leveraging - which should be the network’s core function in the long run.
  • Crescent Derivatives: Still a work in progress, not much information is available now, but we’ll keep an eye on this one.

Crescent allocated 50% of its native token genesis supply (a total of 50 million tokens) to an airdrop on April 14th. Delegators who staked their $ATOM tokens before January 1st of 2022 qualified for the airdrop - except if they delegated to a centralized exchange validator. The number of $CRE tokens the delegators received is proportional to the square root of their staked $ATOM at the time of the snapshot, although the number could be increased upon completing a few on-chain tasks. If you’re unsure whether you’re eligible or haven’t claimed your airdrop yet, you may do so here.

Figment is currently running a validator on the Crescent network. Interested in making the most of your gift? Follow the instructions below and stake your recently gained $CRE tokens with us!

Given that Cosmostation isn’t available yet, you must have a Keplr Wallet. You can choose between the Disperze app and the Emeris app by checking that box out. This guide will guide you through the Disperze app.

Disperze Route: Connect your wallet and access the dashboard here. Then select the Figment validator by clicking on its name.

At the top right corner, beside the validator’s name, click on the “Stake” button. 

A side window will appear. Select the amount you wish to stake and click on “next”.

Read the notice that will appear, informing you the transaction has yet to be approved, and click “send”. 

Once your wallet asks for verification, check the transaction fee - which should be a very low amount of $CRE - and approve the transaction by clicking on “approve”.

Done! A confirmation screen should appear declaring the staking successful. You can check your Keplr wallet and your own dashboard to see your staked $CRE. Congratulations, you successfully staked $CRE tokens to Figment’s validator. 

Keep in mind, you don’t earn rewards from the same epoch you started staking, though; you’ll have to wait for the following epoch. On Crescent, each epoch takes one day (24h). You may unstake your $CRE tokens at any time - not that we expect you to, but remember that the unbonding period is of 14 days.

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