Cosmos
Jul 11, 2024
Maximise Your LAVA Rewards: The Ultimate Guide to Dual Staking with a Staking Wallet
Learn how to use Leap, the best crypto wallet for staking, to dual stake your LAVA tokens and earn maximum rewards from both validators and providers. Follow our step-by-step guide to optimise your staking strategy.
The Lava mainnet is experiencing explosive growth, with users rushing to explore dual staking opportunities. If you're looking for the best wallets for staking crypto, particularly for LAVA tokens, you've come to the right place.
LAVA dual staking is a revolutionary mechanism that allows you to double-dip your tokens, earning rewards from both validators and node providers simultaneously. With over 50M LAVA already distributed to more than 70,000 wallets, the protocol has delivered on its promise of being highly rewarding.
Make sure you've claimed your LAVA airdrop, because there's much more potential to unlock with the right staking wallet.
What Makes Leap the Best Crypto Wallet for Staking LAVA?
Leap provides the simplest way to dual stake your LAVA tokens and earn rewards from both validators and providers. As a multi-chain wallet supporting more than 200+ chains natively, Leap offers a seamless experience for managing your crypto assets, including LAVA.
If you're new to Leap, you can refer to our setup guide to get started quickly.
How to Dual Stake LAVA with Leap: Step-by-Step Guide
LAVA holders can stake to a Lava Validator to secure the chain and restake to an RPC provider to boost network performance. Here's how to dual stake your tokens using one of the best wallets for staking crypto:
1. Launch Leap
Open the Leap app or extension on your device
Ensure your LAVA tokens are in your wallet
2. Navigate to the Staking Page
Tap on the stake button to view your staking portfolio
Enter the amount of LAVA you wish to stake
3. Select Your Validator & Provider
Choose the validator you want to stake your tokens with
For risk management, consider staking with multiple validators
You can stake with Leap Wallet Validator, a preferred validator for Lava Network
After selecting your validator, choose the provider you want to earn rewards from
This is where restaking happens - you can leave this unselected if you prefer
4. Approve & Confirm
Review your selections and confirm the transaction
Once confirmed, you'll start earning dual rewards on your LAVA tokens
Your rewards will automatically accrue and can be claimed whenever you wish.
Manage your dual-staked tokens
You can use Leap to switch your validators, providers, and unstake your tokens.
Switch validators
Go to the staking page.
Select the validator to view your delegation.
Tap on 'Switch validator'
Select the validator to delegate to.
Confirm
Switch providers
Go to the staking page.
Select provider to view your delegation.
Tap on 'Switch provider'.
Select the provider to delegate to.
Confirm
Unstaking Your Tokens
Go to the staking page
Select the validator or provider to view your delegation
Tap on 'Unstake' and confirm
Your pending unstakes will be visible in the Stake page under the 'Pending unstake' tab
You can cancel pending unstakes if you change your mind
Understanding Dual Staking on Lava Network
LAVA staking involves three key participants: providers, validators, and token holders.
Providers stake tokens to join the network and are incentivised to maintain superior service quality.
Validators create and verify blocks, ensuring the network's security and reliability.
Token holders can delegate their LAVA to validators and providers, participating in governance and earning rewards.
Lava enables providers to participate in consensus through dual staking. When you dual stake your tokens, Lava effectively "duplicates" your delegation. For each validator delegation, a parallel provider delegation is created for the delegator. As a result, providers gain influence in the consensus, affecting governance and block creation.
FAQs
What is dual staking in LAVA?
Dual staking allows you to stake your LAVA tokens with both validators and providers simultaneously, earning rewards from both sources.
How much can I earn from dual staking LAVA?
Rewards vary based on validators and providers chosen, as well as network conditions. The dual staking mechanism is designed to maximise your potential returns.
Is there a minimum amount required for staking LAVA?
There is no strict minimum, but you should consider transaction fees when staking smaller amounts.
How long is the unbonding period for LAVA?
LAVA has an unbonding period during which your tokens are locked and not earning rewards. Check the current unbonding period in the Leap wallet.
Can I stake LAVA on mobile devices?
Yes, Leap Wallet supports LAVA staking on both mobile and desktop platforms, making it one of the best wallets for staking crypto on any device.
Explore More Staking Opportunities with Leap
As a comprehensive multi-chain wallet, Leap supports staking across numerous blockchain networks beyond just Lava. Whether you're interested in Cosmos, Celestia, or other proof-of-stake chains, Leap provides a unified interface for all your staking needs.
Learn how to create a Celestia mobile wallet using Leap
Discover how to create and use Cosmos wallets with Leap
Connect with Leap
Stay updated with the latest features and developments by following Leap on social media:
When it comes to maximising your LAVA rewards through dual staking, choosing the right staking wallet makes all the difference.
