Band Protocol Delegation Tutorial
If you have BAND tokens, they will likely need to be converted from Ethereum-based ERC-20 tokens to the native BandChain token in order to stake and delegate. You can swap liquid BAND tokens back to ERC-20 at any time. The Band Protocol team has published this guide for swapping BAND tokens.
If your BAND tokens are on an exchange, you’ll need to transfer them to your Ledger hardware wallet to prepare to stake. Once your tokens are in your control (ie. not on an exchange),you can begin the simple process of delegating stake to the validator(s) of your choice. CosmoScan, BandChain’s native explorer, will enable you to see transaction and validator activity on the BandChain network, and also delegate.
Please follow the step-by-step guide below to delegate.
Step One: Ledger Live set-up.
a) Go to this link and download “Ledger Live” to your desktop by following the instructions.
b) Open Ledger Live app and hover to “ Manager” to connect your Ledger hardware wallet.
Enter the pin code,
Search and download the Cosmos app.
Set up as a new device, go to this link for references.
Step Two: Connect to the Band network.
a) Go to CosmoScan and click ‘connect’ in the top right corner.
b) In this new window, make sure you select everything as in the pictures below and click “ Connect To Ledger” to continue.
Select Ledger — Cosmos
Select a correct HD Deprivation Path
Enter pin code on your Ledger
Step Three: Fund your wallet
a) Once connected, you’ll see your BAND address at the top right side of the screen by clicking on that “ human icon”.
If your tokens are on an exchange, begin by sending a small amount of BAND tokens to yournew BandChain address. If your tokens are ERC-20, you’ll need to swap your tokens before you can stake them. Once you have tokens, you can select your validator(s) and delegate.
Step Four: Delegate tokens to a validator
a) Select the InfStones validator from the validator list and click ‘Delegate.’
b) Choose the number of BAND tokens to stake and delegate. Remember that it will take 21days to unbond once your tokens are bonded. Click next, and then confirm your transaction on your Ledger hardware wallet. That’s it.
If you have any questions during the staking process, please feel free to reach out to us using our social media channels as below
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