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How To Stake LOOM Using InfStones Using 4 Simple Steps?
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How To Stake LOOM Using InfStones Using 4 Simple Steps?
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May 07 , 2019 · 4 min read
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Loom Network Delegation Tutorial

What is Loom Network?

Loom Network is a platform as a service that is built on top of Ethereum and allows developers to run large-scale decentralized applications. This platform was released on October 1st, 2017. The goal of Loom Network is to allow application developers to have smart contracts that can access much more computing power when it is required, or maintain the same power at lower costs for tasks such as trials for onboarding new users or applications that simply do not need the full security of blockchain to begin with.

How to Stake Loom with InfStones?

Follow the simple steps below to start staking with InfStones using the Metamask wallet.

Step 1: Download and Install MetaMask Wallet

Navigate to this link and click on “Add to Chrome” to start downloading.

Loom Network Delegation Tutorial

Click on “Add extension” to continue.

Loom Network Delegation Tutorial

Finish the installation.

Loom Network Delegation Tutorial

MetaMask will be presented on the upper right side of your Chrome browser in red square 1.

Click on “MetaMask” to open up the wallet.

Step 2: Create or Import a Wallet

After installing MetaMask, click on its logo on the extension bar to open up the wallet on your browser.

Loom Network Delegation Tutorial

Click on “Get Started” to begin.

Loom Network Delegation Tutorial

To create a new wallet, click on “Create a Wallet”.

Loom Network Delegation Tutorial

Click on “I Agree” to continue.

Loom Network Delegation Tutorial

Set your password and then click on “Create”.

Loom Network Delegation Tutorial

Click on the area inside of the red square and remember your Secret Backup Phrase.

Loom Network Delegation Tutorial

Choose the words in the same sequence as the one presented before.

Loom Network Delegation Tutorial

Done. Click on “All Done” to access your wallet.

Loom Network Delegation Tutorial

To import a wallet, click on Import wallet to start.

Loom Network Delegation Tutorial

Click on “I Agree” to continue.

Loom Network Delegation Tutorial

Fill in the detailed information of your wallet.

Loom Network Delegation Tutorial

Type in the private key of your wallet in red square 1. Set a new password for your wallet in red square 2. Type in the password again in red square 3. Click on “Import” to continue.

Click on “All Done” to finish.

Loom Network Delegation Tutorial

Next, connect to Binance Chain and access to the wallet.

Loom Network Delegation Tutorial

MetaMask will be presented on the upper right side of your Chrome browser in red square 1. Click on “MetaMask” to open up the wallet, then open "Settings".

Loom Network Delegation Tutorial

Click on the area circled by red square 1. Click on “Settings” in red square 2 to continue. Scroll down and click on “Networks” to continue.

Loom Network Delegation Tutorial

Click on “Add Network” to continue.

Loom Network Delegation Tutorial

Add Binance Smart Chain.

Loom Network Delegation Tutorial

Click on “Save” in red square 6 to finish.

Step 3: Change the Network to Binance Smart Chain

Follow the prompts and enter your existing account. Click on here to switch the network.

Loom Network Delegation Tutorial

Click on “Binance Smart Chain” to finish this section of work.

Loom Network Delegation Tutorial

Click on “Next” to finish.

Loom Network Delegation Tutorial

Step 4: Stake your Tokens

Navigate to this link to start staking, click on the icon of MetaMask to continue:

Loom Network Delegation Tutorial

Set up a new account.

Loom Network Delegation Tutorial

Click on “Create a new account” to create an account on the Loom Network. Click on “Continue” in red square 2 to proceed. Then, click on “Sign” to approve the signature.

Loom Network Delegation Tutorial

If successful, you will see the following page (My Account), which shows your balance, the election cycle timer, your current Rewards amount, and a list of your stakings.

Loom Network Delegation Tutorial

Scroll down to the bottom of this page, click on “Stake Tokens” to continue.

Loom Network Delegation Tutorial

Click on “Infstones (Infinity Stones)” to start staking.

Loom Network Delegation Tutorial

Click on “Stake Tokens” to continue.

Loom Network Delegation Tutorial

Accomplish the stake.

Loom Network Delegation Tutorial

Type in the amount you prefer in red square 1. Select a lock time bonus in red square 2. Click on “Delegate” in red square 3 to finish the staking.

How to Claim Your Rewards?

And when the time comes for you to claim our $LOOM rewards here are the steps to follow.

Start by clicking on “My Account” button from the main menu.

Loom Network Delegation Tutorial

Click on the “Claim Reward” button to continue.

Loom Network Delegation Tutorial

You’ll be asked to sign the transaction. Click on “Sign” to approve.

Loom Network Delegation Tutorial

If the rewards claim is successful, then you will see this message: “X LOOM will be reclaimed after the next election.” like the image below.

Loom Network Delegation Tutorial

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.