Stake

This page outlines the complete staking process from a user perspective.

How Does stELX Work?

When a user converts native ELX to stELX, that ELX is sent to staking contracts which programmatically mint an equivalent amount of stELX to the sender's address.

This native ELX is staked onto validator nodes that earn protocol rewards for validating the Elixir Network.

stELX always represents native ELX 1:1, and will accrue these protocol rewards in the form of a rebase, meaning that rewards will automatically accrue to the holder's wallet.

Step 1: Connect Your Wallet

Our staking supports most major wallets including hardware wallets.

As stELX resides on Elixir EVM, you'll need to make sure you are on the correct network in order to view it within your wallet. The website will prompt you to connect.

Step 2: Select Amount and Send Transaction

Input the amount of ELX that you would like to stake (this is the amount of native ELX you will swap for stELX). Users can stake any amount of ELX and there is no maximum. The underlying value will always be 1:1 but the since stELX is yield bearing the native token amount will be less, please pay attention to the exchange rate.

Click 'Stake', then confirm the transaction in your wallet.

While you are here, be sure to add stELX to your wallet so it's easily visible.

Step 3: Receive stELX

You just staked your ELX !

Once your ELX is sent, you will automatically receive stELX in your wallet when the transaction completes.

Step 4: Earn Rewards

Protocol rewards earned from validator nodes will accrue automatically. stELX uses a rebase mechanism to allow balances to increase in line with protocol rewards.

You are now helping secure the Elixir ecosystem and getting the rewards for doing so.