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NEO Staking Tutorial
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NEO Staking Tutorial
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Sep 01 , 2021 · 2 min read
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What is Neo and NEO Staking

Neo is a blockchain platform that aims to create a decentralized smart economy by leveraging blockchain technology and digital assets. It allows developers to build decentralized applications (dApps) using various programming languages and supports the creation, management, and transfer of digital assets, including tokens and smart contracts.

NEO staking refers to the process of holding and locking up NEO tokens to participate in the network's consensus mechanism in return for the earnings. The staking process contributes to the security and decentralization of the Neo blockchain.

Neo introduces a unique two token model. NEO is the major token owned by holders, and GAS is mainly used for paying operation and storage fees. GAS tokens are generated with every block and distributed to holders. For more information regarding this model, please visit https://neo.org/neogas#tokens.

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.

How to Stake NEO with InfStones

Overview

Neo has a unique network structure, where the staking process is represented by “voting a candidate”. NEO holders are eligible for voting. Voting consumes GAS as a transaction fee, and the NEOs will be locked up. NEO holders can earn GAS by simply holding NEO, but extra GAS can be earned by voting. GAS can be converted to NEO using exchanging tools such as Neo Compounder. For more information regarding this mechanism, please refer to https://neo.org/neogas#tokens.

Stake

a) Before getting started, please install and register for a wallet that supports Neo. You can see a list of available wallets here: https://ndapp.org/wallets. The following demonstration is done using NeoLine. After completing the registration, please navigate to https://governance.neo.org/, and click “Connect Wallet” at the upper right corner. Select the wallet you installed, your wallet may require a few more steps for authentication. Please note that both NEO and GAS need to be stored in your wallet to complete the voting process. NEO ensures your voting power, and GAS will be used in paying transaction fees.

b) Navigate to the Candidate tab and find InfStones. You can use the search bar to locate InfStones. Click “Vote” to proceed.

c) Click ”Vote Now” to complete voting. You will be directed to your wallet to confirm your decision.

Receive Reward

You can find your voting history and reward on https://governance.neo.org.

You can find your estimated-24-hour generated gas and unclaimed gas. You can verify your vote by locating InfStones again and see the check mark on the voting button.

Unstake

Unstaking refers to revoking your vote. To do this, click on the “vote” button covered by the check mark, and click “Confirm”. Your right to vote will be returned to you immediately.

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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