Guide on TRON staking in Guarda Wallet
TRON staking is live! Let's take a look at how to delegate your TRX in Guarda Wallet.
Some theory: who are Super Representatives?
As the TRX community is truly headed to decentralization, the network is based on Delegated Proof of Stake (DPoS) algorithm in which a rotating cast of 27 Super Representatives (SRs) are entrusted to validate transactions and produce blocks for the network. Any holder can vote for SR candidates as well as apply to become SR or a super partner. 27 most-voted candidates will become super representatives, while the 28th to 127th will become super partners. Super partners only receive voting rewards. SRs are chosen every 6 hours. Each time the SR is chosen, it earns an ability to collect new TRX generated by the protocol.
You can earn passive income by delegating your TRX to SRs. There's also an ability to participate in operating three types of TRON nodes:
- Witness nodes. They propose blocks and vote on protocol decisions. Blocks are generated every three seconds.
- Full nodes. Those broadcast blocks and transactions.
- Solidity nodes. They synchronize blocks from full nodes and provide APIs.
Feel free to find the details and a list of SRs here.
How does the TRON staking work?
As it was mentioned above, anyone in the community can vote for candidates.
To vote on super representatives, Tron users need a network resource called “Tron Power.”
Users receive 1 Tron Power for every 1 TRX they chose to “lock” in an account that is prevented from spending its associated cryptocurrency. (Upon unfreezing the cryptocurrency, users lose their Tron power and the ability to vote).
Tron Power cannot be traded like TRX or other tokens issued on top of the Tron blockchain.
Effectively, the process works the same as staking on blockchains like Tezos or Cosmos, where users earn rewards by locking up funds. (Note: Be aware, this may not be possible using a custodial exchange like Kraken). You can earn network resources — bandwidth and energy — by staking TRX. They are needed in order to make TRX or TRC20 transactions.
Every account in TRON’s network can vote for the Super Representatives they support. Voting requires TRON Power (TP), which is determined by the users’ frozen balance. Freezing (staking) TRX tokens results in energy and bandwidth required to interact smoothly with the network as well as the increase in voting power of voting for Super Representatives.
TP Calculation: 1 TP for 1 frozen TRX
How are Rewards Calculated?
Staking rewards are distributed by the Super Representatives depending on the rules that they have set. More information can be found by joining TRON telegram 1.8k group or by visiting the link below. Super Representatives 1.2k
You can go to StakingRewards’ TRX Staking Calculator 4.6k to find out the potential rewards.
How to stake TRX in Guarda Wallet
Open your TRON Wallet on Guarda and click “Stake” in the Staking section.
Enter your deposit amount and choose the resource that you will get by staking. In Advanced options you can select the validator depending on the reward amount. Please note that each validator has the required minimum deposit amount.
After that, you will see information about your deposit:
- In the transaction history
- In your Tron wallet. Open your Tron wallet in the left column and click "Staking".
- In the "Receive" tab.
How to claim reward
Each validator has its own award distribution terms. Rewards are distributed manually via the "Claim" button. After delegation, the deposit will be frozen for the first three days.
- Binance distributes rewards every month by the 10th of each month.
- CryptoChain distributes rewards daily
How to withdraw a deposit
After delegation, your deposit is frozen for three days. Once this period expires, you can withdraw your deposit using the “Unstake” button in TRON Staking section in your TRON wallet. You will find it if you open your Tron wallet and click "Staking".