A step by step guide on how to stake in Sentinel Network
Sentinel dVPN is the native token of the world’s first provably decentralized VPN (Virtual Private Network). As the VPN industry continues to blossom growing at a rate of %15 annually with a projection of the industry reaching a global market cap of $75 billion by 2030, Sentinel is helping users on its ecosystem capitalize on this growth with a staking opportunity.
Sentinel’s DVPN can be staked by anyone. The core utility of this token is built on its function as governance and staking token, a medium of payment for dVPN subscriptions as well as other advanced dVPN services not to mention a work token on the Sentinel ecosystem.
In this article, we show you a step-by-step guide on how you can become part of Sentinel’s governance structure by staking the dVPN token.
Step 1: Installing the Keplr browser wallet
The first step of staking your dVPN is downloading the Keplr browser wallet extension. Keplr is the most powerful wallet on the Cosmos network and a MetaMask equivalent of the ecosystem. The Sentinel dVPN is built to operate on the Cosmos SDK and therefore abides by the same decentralized proof of stake (dPoS ) protocol as the Cosmos Hub.
Unfortunately, the Keplr extension is only supported on Chrome. Although you can use it on the Brave browser, some of its features might be unavailable. You can also download the Keplr extension on your phone. We will use Chrome for this illustration.
Step 2: Import your account
Once you have Keplr added to your chrome browser, you have the option of either importing your account from a compatible non-custodial cold wallet such as a Ledger wallet or creating a new account.
If you are importing from a Ledger wallet and are using Keplr for the first time, the initial pop-up window will have an option for “Importing an Existing Account.”
Then enter your seed phrase in the appropriate slot while checking that you have the correct spelling.
Take note that you have imported the account correctly to the right derivation path. You can confirm this by clicking the “Advanced” button. In most cases, the derivation path which is the main net cosmos address displayed at the top of the dashboard should look like this “m/44’/…’/0/0/0,”
If the Keplr cosmos main net address displayed is different from the one shown above, the derivation path may end in 1 instead of 0. You can correct this by starting over the entire process and replacing the last digit. Click here for more information about the derivation path.
Step 3: Set up your password
This is one of the most important steps. Be careful about the password you select for your Keplr and make sure that you are not using it in any other application. Once done, click the confirm button.
Step 4: Depositing dVPN tokens
To access your Keplr wallet and deposit tokens, click on the top-right side of your browser’s window to open the Keplr extension.
By default, the wallet will be set on the Cosmos network
You will need to change this to the Sentinel network by clicking on the Cosmos icon at the top center to reveal a drop-down where you will be able to select Sentinel
Once you are on the Sentinel network, the icon up top will change to “Sentinel” from Cosmos and you will now be able to click the deposit button revealing your Sentinel public address key like this.
To copy this address, simply click on the key phrase and use it as the receiver wallet when you are sending dVPN from another wallet or receiving it from a friend.
Step5: Staking dVPN
With your dVPN loaded on your Keplr wallet, it’s time to stake your dVPN. It’s easy, click on the stake button right below.
This action will redirect you to the list of validators on the Sentinel network.
You can then browse through the validators available, reviewing their commission rates and reputation. For this demonstration, we will pick Ubik Capital.
Click the delegate button. Keep in mind that once your tokens are delegated you will have to wait for 21 days to make them liquid once again. If you later change your mind and decide to undelegated them, you will still have to wait for 21 days to undelegated.
Once you input the amount of dVPN you want to stake, click the delegate button and a second pop-up window will appear. On the second pop-up window, you can set up the transaction with higher or lower gas fees depending on how speedily you want your transaction to be.
Step 6: Confirm the transaction
Once the transaction is complete, your dashboard will be updated to include the validator you have delegated your dVPN to and the number of tokens you have delegated.
It’s now complete. You are now staking dVPN and are eligible for staking rewards.