How to Stake Terra Classic (LUNC) on Terra Station

in #terra • 2 years ago

Terra Luna Classic (LUNC) is the original Luna token from Terra Labs, and has enjoyed a huge community following even after it crashed to almost zero. There are many who believe that LUNC will rise from the ashes of the Terra crash like a phoenix from the ashes.
Coinpayu is now a Luna Classic validator and you can stake your LUNC for a yield.
This guide will show you how to create your wallet, fund it with some LUNC and begin staking with Coinpayu.
Add Terra Station Wallet to your browser
For this guide we will use Chrome Browser.Here we open the browser and visit the the Terra Station Chrome extension.
Install the extension and add it to your browser.
Create a new wallet
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For this guide, we have selected new wallet and been taken to this page to get our details:

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You must then verify your wallet by proving you have written down the mnemonic:

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Once you have done this correctly, you will see:

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Fund your wallet
Click the blue gear, switch your network to classic to see your wallet address.
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Now you can send LUNC to this address from any wallet or exchange to your new Terra Station Wallet.
Stake now
Go to Terra Station, connect your wallet on the top right. Then click Stake.

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Searching for Coinpayu reveals the validator. Click on its name, and then click the big blue delegate button.

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Select how many coins you want to delegate, leaving some for transaction fees, and enter your password. Click submit.

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The transaction will begin broadcasting:
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After a few seconds you should be successful:

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Now you will be able to see your delegated LUNC and rewards begin to accrue. You will be able to withdraw these rewards immediately.

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Unstaking LUNC

To unstake LUNC, return to the Stake section and find the validator you delegated to, in this case Coinpayu. You will now see the option to undelegate is clickable

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You will be warned that your coins will be locked up with no rewards distributed for 21 days which is how long it will take to undelegate, so bear this in mind when it comes to wanting to stop staking. Then you will need to enter the amount and password to confirm the unstaking.

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P.S.: Here is a brief introduction for LUNC Staking.
If you have any questions during the staking process, please feel free to comment.

#classic
2 years ago in #terra by
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