- 7 days
Wanchain seeks to create a new distributed financial infrastructure, connecting different blockchain networks together to exchange value.
Today, there are two options for earning passive income for holders of the token WAN. The first is to run a Validator Node. The second delegation of tokens to a Validator Node.
Validators — Validators on the Wanchain network secure the network by playing one of two roles (RNP and EL ) in the process of proposing, validating, and finalizing blocks. Validators can take two forms in the Galaxy consensus, either taking delegation or being a non-delegating node. You can set up a delegating node with a minimum of 50k WAN and a non-delegating node with a minimum of 10k WAN.
Delegators — Delegators are anyone who delegates their stake to a delegating node.
The delegation is possible through Wanchain wallets. You need to download the Desktop light Wallet or the mobile wallet, create an account, save your Seed Phrase (=private key) in a safe and secure place, then create a WAN address and send WAN to it. Then, you click on Galaxy PoS>Delegation>New delegation>Select Validator of your choice>My account >Select a FROM address, address from where you want to stake your WAN>Amount of WAN you want to stake>enter your wallet password>Next.
Now, you wait 3 days and then each time your validator is selected to work during an epoch, you’ll receive rewards from it.
You can find additional information at this link: