Avalanche Staking

What is Avalanche?

Avalanche is an open-source platform for launching highly decentralized applications, new financial primitives, and new interoperable blockchains.

Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets. (Source: CoinGecko.com)

Avalanche is built by Avalabs.

Why?

  1. Stake your crypto to earn rewards (Proof Of Stake Blockchain nodes)

  2. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.

Who?

You can use the Avado all-in-one package when:

  • you want to stake AVAX tokens as a delegator or a validator

  • you want to run an Avalanche Node

  • use the Avalanche web wallet

Financials

You’ll need a minimum of 2000 AVAX tokens to start a validator. Current value.

If you do have some AVAX tokens (minimum 25 AVAX tokens), but less than the required minimum of 2000, you can alwasy delegate these tokens to an existing validator with this same package. Contact that trusted party.

Setting up Avalanche node

How to install and run it:

  1. Go to: “DAppStore” > Proof Of Stake Blockchain nodes (Stake your crypto to earn rewards)

  2. Select: Current version of “Avalanche node”

  1. A new screen will show

  2. Click the “INSTALL” -button

  3. Wait … (a bit) > “OK - Starting download” > “adding avalanchego…” Let the installer do the work.

  4. You’re all set!

  5. Depending on your computing power and bandwidth, it may take a while to bootstrap and sync. Please be patient while the Avado does the heavy lifting.

Configuring the package:

  1. Click on “CONFIGURE PACKAGE” > to open the onboarding wizard. On this page your AVADO will show you some useful information on your Avalanche node like:

    • the Node ID

    • the amount of peers connected to your node

    • the node is still starting up - as it is not bootstrapped yet Wait till you see the message: “Avalanche node is ready”

  2. Open Wallet UI You will see the wallet UI that is provided by the Avalanche team. On the top of the page. We are connected to the main net through our own AVADO box > that’s good

  3. Now it’s time to open our wallet

Backup and Restore

  1. Go ahead and hit the “download node key backup” key > to receive a ZIP file with your keys in there.

  2. Store this backup on an USB stick and don’t lose them. You can restore your validator node with these backup keys if needed.

  3. If you unzip the backup file you will find a staker key and a staker certificate that you can upload to restore the node (when clicking on the “Restore” tab in the “Backup and Restore” section.

Double check

  1. Check the logs of this package to check if everything is working.

  2. Click on “show node logs”.

  3. Scroll down. You should see no errors.

Editing the information after installation

  1. Go to “DappStore”

  2. Select “Avalanche node”

  3. Click on “DETAILS”

  4. Click on “CONFIGURE PACKAGE" > to view the configuration details

  5. OR Click on “MANAGE PACKAGE" > e.g. to view the logs

More information

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