How To Stake With 01Node On Quicksilver Protocol
How To Stake With 01Node On Quicksilver Protocol

How to stake with 01node on Quicksilver protocol

Quicksilver is a permissionless, sovereign Cosmos SDK zone providing liquid staking for the entire Cosmos Ecosystem.
January 5, 2023 written by 01NODE

Quicksilver is a permissionless, sovereign Cosmos SDK zone providing liquid staking for the entire Cosmos Ecosystem.

What is Quicksilver?

Quicksilver is a permissionless, sovereign Cosmos SDK zone providing liquid staking for the entire Cosmos Ecosystem.

Through Quicksilver, users are issued a voucher, qASSET, representative of their staked asset, which can then be used in DeFi protocols. Quicksilver can scale seamlessly to any IBC-connected chain, and users participating in the protocol can delegate to any validator of their choosing, as well as retain their voting rights through the protocol’s Governance by Proxy feature.

How does staking with Quicksilver works

How To Stake With 01Node On Quicksilver Protocol

Quicksilver will control user delegations via interchain accounts and will mint qAssets in their place. Thanks to the liquid staking module from Iqlusion, you will be able to transfer existing delegations without unbonding.

How does auto-compounding work on quicksilver protocol

The Quicksilver protocol will automatically restake rewards earned every epoch, freeing users from having to restake their rewards manually.

Is it possible for users transfer their delegations directly into quicksilver?

For onboarded Zones that have enabled Iqlusion’s Liquidity Staking Module (LSM), users will be able to transfer their staked delegations from an onboarded chain to Quicksilver without unbonding these delegations. However, for onboarded Zones that have not enabled the LSM, users will need to use already-liquid assets to participate in the Protocol.

What is the difference between other liquid staking protocols and Quicksilver?

How To Stake With 01Node On Quicksilver Protocol
  • Quicksilver is secured by a validator set of 125 validators.
  • In order to promote decentralization, Quicksilver will allow delegation to all validators on the target chain by default, rather than restricting delegation to a restricted validator set. Quicksilver Governance will be able to deny delegation to specific validators as it sees fit (e.g. Centralized exchange validators, or those whose behavior is detrimental to the chain).
  • Quicksilver will be able to scale to onboard any IBC-enabled chain that supports Interchain Accounts.
  • The Quicksilver Protocol will allow users to maintain their governance rights on any onboarded chain through its Governance by Proxy feature, which will be released in 2023.
  • Quicksilver will incentivize users to delegate to decentralized, performant validators that are active in governance through its Participation Rewards feature.

Staking guide – How to delegate with 01node

  • Go to https://wallet.keplr.app/chains/quicksilver
  • Find 01node In the quicksilver validator set and click the “manage” button.
  • Click “delegate”
  • Enter the amount you want to delegate. Remember to keep some quicksilver available to pay transaction fees.
  • Click “delegate” and then click “approve” to approve the transaction.

Note: You will need to undelegate in order for your staked assets to be liquid again. This process will take 21 days to complete.

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