How to Stake GLMR — Moonbeam Glimmer — Staking FAQ
Knowing how to stake your GLMR the right way could be 2x more profitable than a blind, unlucky guess. Everything you need to know about Glimmer Staking in one article — read on!
Can I stake my GLMR?
Yes. Staking your GLMR was enabled on Jan 11th, 2022.
How to select a Moonbeam collator to stake?
Moonriver collator APR ranges between 6% and 30%. That’s 5xthe rewards by simply selecting a high-APR collator. Moonbeam is based on the same staking mechanics, so chances are GLMR collator APR will also vary.
Moonbeam Collator APR depends on 2 things:
- the less the total backing of the collator, the more rewards you will get
- the more blocks per round the collator authors, the more rewards you will get
You can sort collators by total backing and blocks per round at stakeglmr.com.
Note that in the first few weeks after Jan 11th (Moonbeam launch date) both of these numbers are likely to change from one day to the next. Therefore, a collator that seems like a great choice today might not look that good tomorrow.
My advice is to choose a collator that you trust and got back to stakeglmr.com 2 months later (after Take Flight rewards have been distributed) to see how that collator is performing. By that time, you will be able to make a more educated guess.
Our company, StakeBaby, operates collators in both Moonbeam and Moonriver. We have had 0% downtime and consistently produce higher than average blocks per round. We use multiple backups, and custom failover automation on AWS, and we also share our know-how with other collators.
What is the Glimmer APY or APR?
GLMR APR is likely to be around 20%, or slightly lower than MOVR APR. Moonbeam has a longer un-bonding period and lower delegation minimum, so it is likely to attract a higher percentage of staked funds than Moonriver in the long-term. This will translate to a lower APR.
You can find the current GLMR APR on the top right corner at stakeglmr.com.
If you want to compute the APR yourself, you can follow the directions here.
The APR you will earn will depend on the collator/s you choose.
Where can I stake my GLMR?
If you are the video-type, you can watch Moonbeam’s staking-how-to. If you’d rather read an article, then you can follow Moonbeam’s staking guide. You can find the Moonbeam staking app here.
How long does it take to unstake GLMR?
You can unbond/undelegate your GLMR at any time. However, it will take 7 days for your funds to become transferable. Note that, due to longer block times due to an issue on the relay chain, unstaking takes a bit longer than 7 days,
To unstake your tokens, go to the Moonbeam app and click on (-) next the collator, to bond less, or (x) to cancel your entire delegation.
If you unstake your tokens from a collator, the remaining staked tokens must be at least 50 GLMR. Otherwise, you must unstake the full amount by canceling the delegation to that collator.
Your tokens continue to accrue rewards while unstaking is pending. You can cancel unstaking at any time during the 7 days without a penalty. Note that this may change in the future.
How many collators should I choose to stake in Moonbeam?
You only have to choose one collator to stake your tokens. This is because Moonbeam uses delegations and not nominations, like Polkadot or Kusama.
If you have a large number of tokens and want to diversify your risk exposure, you can stake with more than one collator. However, you will have to split your stake among the collators.
Can I stake with multiple moonbeam collators?
Yes, you can split your delegation among more than one collators. Make sure that each delegation meets the minimum requirements. Staking with multiple collators is a good idea if you have a large amount to stake.
If you have a very large amount to stake (over 50K) you should definitely stake with more than one collator to avoid putting the collator at risk, should you decide to revoke.
Will my GLMR get slashed?
Moonbeam does not currently impose slashing. The worst that can happen is that you don’t receive rewards.
Why did I stop receiving GLMR staking rewards?
You might not receive rewards even if you successfully staked your tokens. This may happen under 4 circumstances.
- You have just staked your rewards! Your first reward will come 12–18 hours later.
- The collator you selected goes out of the active set, i.e. it stops collating. If this happens, you need to unstake your tokens, and stake with another collator.
- The collator you selected stops authoring blocks. The collator may be down or having technical difficulties. You should either wait or unstake your funds and stake with another collator. You can check the history of a collator’s blocks at stakeglmr.com.
- Finally, your delegation might be “outbid” by other delegations. Only the top 300 delegations per collator receive rewards, so if there are 300 delegations that are higher than yours, you won’t receive anything.
How long before I start receiving GLMR staking rewards?
Once you stake your Glimmer, it will take 2 rounds to start receiving rewards. This means that you will not see any rewards coming for 12–18 hours, depending on when you entered the current round.
How often do I receive Glimmer staking rewards?
You will receive rewards at the end of every round, that is every 6 hours.
What is the minimum GLMR staking amount?
You need to delegate at least 50 GLMR,
However, to receive rewards, your delegation must also be in the top 100 delegations for that collator. You can check if your delegation is above the minimum bond required at stakeglmr.com.
Do I need to claim my GLMR staking rewards?
No. Your staking reward will be distributed straight to your address. This is unlike the crowdloan rewards that need to be claimed manually on the Moonbeam App.
Can I automatically restake my GLMR staking rewards?
No. You will have to stake them manually.
Can I top up my current Glimmer stake?
Yes, just go to the Moonbeam Staking App and click on the (+) button next to your collator to bond more funds. If you want to decrease your stake, press the (-) button, but note that you can only decrease it down to 50 GLMR.
Can I change my collator without unstaking my GLMR?
No, you will have to cancel your delegation, and delegate to a new collator. You will keep receiving rewards during the 7-day cancellation period.
My collator is charging a 20% commission!
Relax, they are not. All Moonbeam collators split 20% of the 5% inflation, so that’s 1% of issued tokens in collator fees. The commission is fixed and collators cannot modify it.
Glimmer staking vs. Moonriver staking
It takes 7 days to unstake your GLMR, vs. 2 for MOVR.
The minimum staking amount is 50 GLMR, vs. 5 MOVR.
