Harmony ($ONE) is the native token governing the Harmony blockchain, an independent blockchain built to enable super-fast transactions on Ethereum. The Harmony protocol offers a two-way Ethereum bridge since it is an interoperable sharding network. Developers can easily build and scale decentralized applications on it because Harmony offers an advanced layer-2 scaling solution on the Ethereum network. With Harmony, developers can build solutions that allow for frictionless, cross-chain token swaps.
First, you need to switch to the Harmony chain in your Frontier Wallet that has native support for staking ONE.
You can do this by tapping on the top left dropdown list above your wallet address and selecting the Harmony chain.
Once the wallet is selected, select the ‘Stake’ option on the top of your home screen.
This will open the ongoing staking opportunities on the chain with the corresponding APR rewards. Select ONE to proceed.
You will now open the ‘Validators’ screen, where you can browse the various validators and their uptime, commission %, number of tokens delegated, and rewards. Choose the validator you wish to use to proceed.
On the next screen, you can enter the number of ONE tokens you wish to stake. If you wish to stake all your tokens, tap on ‘Set max.’
Once you enter the number of ONE, Frontier will calculate the projected gains daily, monthly, and yearly. This is estimated based on the present APR and ONE tokens you stake.
Read any notes associated with the staking cooldown period. Once you are ready, select ‘Review’ to proceed.
In the ‘Review transaction’ screen, you will see a summary of the ONE you have chosen, its present market value, and your chosen validator.
Select ‘Stake’ after reviewing all the details.
You will be prompted to enter your Frontier passcode to verify the staking request.
Your request will be submitted to the blockchain, and you will be notified once it is completed.
Once complete, you will be able to see the staked tokens in your positions tab, or at the ‘Staked’ tab under ‘Stake’ on your wallet home screen.
How to unstake your $ONE Tokens
Open the tokens you have staked by either selecting the ‘Positions’ tab (if available) in your wallet or selecting ‘Stake’ on your wallet home screen, and then selecting the ‘Staked’ tab.
Select the validator from where you wish to unstake tokens from the list.
This will open a summary of your staking status. Including APR, unclaimed rewards, validator commission, and unstake period. Below, you will see the number of staked tokens with their present market value and the total rewards you have earned.
To unstake your tokens, you can select the ‘Unstake’ option in this screen.
You will be prompted to enter the ‘Unstake qty’ and the corresponding balance of tokens you have staked. Once quantity is entered, you can select ‘Unstake’ below to continue.
You might be prompted with a reminder at this point. If you are sure, select ‘Yes, Unstake’ or cancel to return to the previous screen.
If you choose to proceed with unstaking, you will land on the final ‘Review transaction’ screen. Here, you will see a summary of the wallet, the tokens you are unstaking with their present market value, the validator, and gas fees.
You may choose to make changes to the gas fees at your own risk and then proceed by selecting ‘Unstake’ below.
You will be prompted for your Frontier passcode at this stage. Once entered, your unstake request will be submitted to the blockchain.
On completion, the unstaked tokens will appear in your wallet home screen under your ‘Tokens’ tab.