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How to Stake Chiliz ($CHZ) in 2024: A Beginner's Guide to Earning Crypto Rewards with InfStones
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How to Stake Chiliz ($CHZ) in 2024: A Beginner's Guide to Earning Crypto Rewards with InfStones
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Mar 06 , 2024 · 2 min read
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Explore Chiliz ($CHZ), the cryptocurrency revolutionizing fan engagement in sports and entertainment. Through Socios.com, fans buy 'Fan Tokens,' gaining voting rights on team decisions, deepening their connection. Chiliz staking offers a rewarding, secure way to support and earn from the network. With InfStones, enjoy a seamless staking experience, backed by a trusted infrastructure!


How to Stake Chiliz ($CHZ) in 2024: A Beginner's Guide to Earning Crypto Rewards with InfStones

WHAT IS CHILIZ AND CHILIZ STAKING?

Chiliz ($CHZ) is a unique cryptocurrency created specifically for sports and entertainment enthusiasts, enabling a revolutionary form of fan engagement. It operates as the core digital currency of the Socios.com platform, where fans can purchase 'Fan Tokens' of their favorite sports teams. These tokens go beyond traditional merchandise by offering voting rights in team decisions, such as match locations or jersey designs. Chiliz thus empowers fans, allowing them to influence aspects of their favorite teams, fostering a deeper connection between sports entities and their supporters.

Chiliz staking refers to the process where holders of Chiliz ($CHZ) tokens can lock their holdings to support the network's operations and, in return, earn rewards. This system is an integral part of Chiliz’s Proof of Staked Authority (PoSA) consensus mechanism, which is a combination of PoS and PoA, participants must hold a certain number of tokens (PoS), and be identified as a trusted node in the network (PoA). By participating in staking, users not only help maintain the network's integrity but also receive rewards, typically derived from transaction fees or newly minted tokens. This process incentivizes token holders by offering them a means to earn passive income while contributing to the network's health.

WHAT SHOULD YOU KNOW ABOUT CHILIZ?

The staking information is highlighted in the table below:

ItemDetail
Rewards Distribution Interval 1 Day
Rewards Distribution Method Rewards need to be manually claimed.
Unbonding Period7 Days
CompoundingAuto compounding.

HOW TO STAKE CHILIZ WITH INFSTONES?

Follow step-by-step Chiliz ($CHZ) staking guide below!

Step 1: Navigating to the Staking Section

Visit the Chiliz staking page at https://governance.chiliz.com/staking and navigate to the 'Staking' tab on the website.

Visit the Chiliz staking page at https://governance.chiliz.com/staking and navigate to the 'Staking' tab on the website.

Connect your wallet and make sure you choose ‘Chiliz Chain’Connect your wallet and make sure you choose ‘Chiliz Chain’

Connect your wallet and make sure you choose ‘Chiliz Chain’

Step 2: Selecting InfStones as the Validator

You can access a list of validators at  https://governance.chiliz.com/staking

Choose InfStones from the list of available validators. Choose 'delegate'.

Choose InfStones from the list of available validators
Step 3: Staking the Desired Amount of Chiliz

In the subsequent pop-up window, input the specific amount you intend to stake (the minimum is 0.01 CHZ). Confirm your delegation by clicking the "Submit" button.

Enter how much CHZ you want to stake with InfStones
Step 4: Confirmation and Receipt of Transaction

Confirm the transaction and you have now successfully staked your CHZ with InfStones.

You have now successfully staked your CHZ with InfStones.

HOW TO CLAIM CHILIZ REWARD?

Access staking page at https://governance.chiliz.com/staking

To claim your reward, you need to partially withdraw/undelegate your reward from staked CHZ.

Claim your Chiliz ($CHZ) reward you earned with InfStones.
After confirming your delegation, you need to wait 230400 blocks (about 8 days) to see the claimable rewards.
To claim your Chiliz ($CHZ) reward you earned with InfStones, wait about 8 days to see claimable rewards.

After those 8 epochs, your CHZ will be in the "Claimable" section, meaning that you can claim them using the "Claim" button that now appears in the interface.After those 7 epochs, your CHZ will be in the

Confirm your transaction and you will see your claimable back to 0 which means you have now successfully claimed your rewards.

Confirm your transaction and you will see your claimable back to 0 which means you have now successfully claimed your rewards.

HOW TO UNSTAKE CHILIZ ($CHZ)?  

To unstake, you follow the same step as you claim your reward.

You can access staking page at https://governance.chiliz.com/staking and navigate to the "My Stake" section and choose the "Undelegate" option.
You can access staking page at https://governance.chiliz.com/staking and navigate to the

Enter the amount you want to undelegate and click ‘Submit’.  

Enter the amount you want to undelegate and click ‘Submit’.

To complete the unstaking process, simply click ‘Confirm’.

Now you have successfully completed the process and you will be able to claim undelegated CHZ in 230400 blocks (about 8 days).

Now you have successfully completed the process and you will be able to claim undelegated CHZ in 230400 blocks (about 8 days).

WHY STAKE WITH INFSTONES?

User-centric experience:

  • Intuitive staking experience with graphic interface.
  • Seamless integration with various wallets.
  • Standardized and consistent logic across different protocols.

Secure and reliable infrastructure:

  • 2000+ service days with 0 slashing.
  • Non-custodial staking.
  • Trusted by Binance, CoinList, BitGo, OKX and more.

Comprehensive support and resources:

  • 24/7 professional support.

Extensive guiding documentations.

About InfStones

InfStones is an advanced, enterprise-grade Platform as a Service (PaaS) blockchain infrastructure provider trusted by the top blockchain companies in the world. InfStones’ AI-based infrastructure provides developers worldwide with a rugged, powerful node management platform alongside an easy-to-use API. With over 20,000 nodes supported on over 80 blockchains, InfStones gives developers all the control they need - reliability, speed, efficiency, security, and scalability - for cross-chain DeFi, NFT, GameFi, and decentralized application development.

InfStones is trusted by the biggest blockchain companies in the world including Binance, CoinList, BitGo, OKX, Chainlink, Polygon, Harmony, and KuCoin, among a hundred other customers. InfStones is dedicated to developing the next evolution of a better world through limitless Web3 innovation.

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