The Cosmos Ecosystem has been a hot topic lately, especially because of the great rewards it offered in 2023. People who held and staked even just 1 USD worth of coins from the Cosmos Ecosystem ended up making a lot of money, with some earning millions. As we move into 2024, it’s looking even more promising. In this post, we’ll guide you on how to make money by staking coins in the Cosmos Ecosystem. We’ll keep it simple, showing you step-by-step how to get involved and potentially earn big. Our focus will be on strategic approaches and best practices that can help both new and experienced users navigate the ecosystem effectively and potentially achieve significant financial rewards.
What is COSMOS?
Read on to learn more.
How to Farm Cosmos Airdrops?
Cosmos ecosystem is expanding, and you can earn airdrop on the upcoming blockchain/dApps, mainly by:
- Taking part in Governance
- Mainnet and Testnet Interactions
Stake and Earn
Staking is a key activity in the Cosmos Ecosystem where users lock up their cryptocurrency to help run and secure the network. By doing so, these participants, called validators or delegators, earn rewards for their contributions. This process, crucial for maintaining network stability, also gives users a chance to receive more benefits, like a larger share in project airdrops, especially if they stake more tokens.
Mainnet and Testnet interactions open doors to explore and contribute to the development and testing phases within the Cosmos Ecosystem. Mainnet represents the live blockchain network, while Testnet serves as a sandbox environment for testing new features and protocols. Engaging with Mainnet/Testnet tasks allows users to actively participate in the refinement of projects and protocols, gaining insights into the ecosystem’s innovative developments.
For those seeking hands-on experiences, Testnet projects like Berachain, Eclipse, and Penumbra offer valuable avenues. By registering interactions with these projects, users contribute to the development and testing phases, gaining insights into the intricate workings of the Cosmos Ecosystem.
Moreover, the Cosmos Ecosystem boasts a variety of tokenless protocols, including Skip Protocol, Hyperlane, and TFM. These protocols, primed for deploying tokens or launching Mainnets, underline the ecosystem’s commitment to innovation.
Wallets for Engaging with the Cosmos Ecosystem
Engaging with the Cosmos Ecosystem requires a well-equipped wallet to navigate its diverse features.
Keplr stands as a versatile and user-friendly option for Cosmos engagement. To initiate, users can download the Keplr Wallet extension. Managing the portfolio through the Keplr Dashboard, they can explore available validators on the Cosmos Hub, making the staking process convenient and accessible.
Leap, offering a streamlined user experience, serves as another robust wallet for Cosmos. Users can engage with the Cosmos chain by downloading the Leap wallet, following setup instructions for wallet creation or import, and utilizing the dashboard to access features like staking and governance.
Cosmostation, a reliable wallet catering to Cosmos enthusiasts, provides a user-friendly interface. By downloading the Cosmostation Wallet app, users can create or import a wallet and seamlessly navigate to the Cosmos Hub. Here, they can explore staking options and actively participate in governance activities.
Citadel, known for its emphasis on security, is an excellent choice for Cosmos engagement. Users can download the Citadel wallet, set up a new wallet, or import an existing one, and explore its features to stake and engage in governance within the Cosmos Ecosystem.
These Cosmos wallets extend beyond secure asset storage, offering essential functionalities for active engagement, including staking and governance participation.
Choosing the right Cosmos wallet from this diverse selection ensures a seamless and secure experience when interacting with the Cosmos chain.
How to Earn Airdrop Staking in Cosmos Ecosystem?
Several projects within the Cosmos Ecosystem offer compelling opportunities for staking, each with its unique value proposition. $ATOM, the native token of the Cosmos Hub, stands as a foundational element for securing the network.
$OSMO from the Osmosis platform, $INJ on the Injective chain, $TIA representing Celestia, and $KUJI associated with the Kujira network all present distinct ecosystems where stakers contribute to security and functionality.
By staking these tokens, participants not only support the respective projects but position themselves for potential airdrops and rewards.
Cosmos (ATOM) stands at the forefront of blockchain innovation, offering a groundbreaking ecosystem designed for scalability, interoperability, and sustainability. As the native token of the Cosmos Hub, ATOM plays a pivotal role in creating an Internet of Blockchains. Powered by the Tendermint consensus and BFT algorithms, Cosmos enables blockchains to maintain sovereignty while seamlessly interacting with others. The Cosmos SDK facilitates the development of multi-asset public proof-of-stake blockchains, with the Cosmos Hub serving as its economic center.
ATOM holders enjoy a three-fold utility within the Cosmos network. Firstly, as a spam prevention mechanism, ATOM is used to pay transaction fees. Secondly, by staking ATOM, users contribute to the network’s security and earn block rewards. Lastly, ATOM holders participate in governance, shaping the future of the Cosmos Hub through voting on proposals. Cosmos addresses challenges in blockchain by providing solutions to sovereignty, scalability, and sustainability, creating a decentralized and efficient ecosystem.
Guide on Staking $ATOM
- Purchase from an Exchange: To initiate the staking process, users need to acquire $ATOM from a reputable cryptocurrency exchange such as Binance. Following the purchase, the next step involves sending the acquired $ATOM to the Keplr wallet via the Cosmos network.
- Sending to Keplr Wallet: Confirming the deposit within the Keplr wallet is paramount. Users can head to the Keplr Wallet extension and click on “Manage Portfolio in Keplr Dashboard.” In the “Chains” section, selecting “Cosmos Hub” prompts a list of validators to appear promptly.
- Choosing a Validator: The selection of a validator is a critical aspect of the staking process. Users are advised to avoid Centralized Exchanges (CEX) validators, which often face disqualification risks. Instead, a thorough research process is encouraged to identify reliable validators with a proven track record. Notable options include Everstake and Cosmostation, both recognized for their trustworthiness in the staking ecosystem. Diversifying assets among different validators further enhances the overall security of the staking endeavor. I recommend not going with any top 10 validator.
Recommended staking: 12.1 ATOM
Osmosis (OSMO) emerges as the native token of the Osmosis protocol, a key player in the Cosmos ecosystem’s automated market maker (AMM) landscape. Designed for fair and permissionless trading of interchain assets, Osmosis allows the creation and management of self-balancing, noncustodial, interchain token indices. As a governance coin, OSMO empowers token holders to influence protocol upgrades, set swap fees, and allocate mining rewards for liquidity pools.
Osmosis boasts customizability, supporting adjustments to swap fees, custom-curve AMMs, and multi-token liquidity pools. By being cross-chain native with built-in IBCs, Osmosis connects seamlessly with the broader Cosmos asset ecosystem. OSMO holders actively engage in protocol governance, selecting eligible liquidity pools for rewards and shaping the strategic direction of the AMM protocol. Osmosis positions itself as a dynamic and versatile solution for decentralized finance within the Cosmos framework.
Guide on Staking $OSMO:
- Selecting the Osmosis Chain: User can stake OSMo inside Keplr wallet. To initiate the staking journey, users need to select the Osmosis chain. This involves navigating to the Osmosis platform and accessing the staking interface.
- Choosing a Validator: The process continues by choosing a validator on the Osmosis platform. Similar to other staking endeavors, users are advised to conduct thorough research to identify reliable validators with a solid track record. This diligence ensures a secure and rewarding staking experience.
- Providing Liquidity: Beyond traditional staking, actively participating in the liquidity hub on Osmosis adds another layer to the staking journey. Users can contribute by providing liquidity to selected LPs, fostering the platform’s liquidity, and potentially gaining additional benefits. Accessing the platform’s pool and confirming transactions are integral steps in this aspect of staking.
Recommended staking: 75.1 OSMO
Injective (INJ) is the native token fueling the Injective protocol, a dedicated blockchain within the Cosmos network tailored for decentralized finance (DeFi) applications. Incubated by Binance Labs, Injective aims to power next-gen DeFi applications, offering fully decentralized on-chain order books resistant to MEV. As a utility token, INJ grants users governance rights, enabling participation in decision-making, validation, burn auctions, and more.
Injective’s financial infrastructure primitives include a decentralized on-chain order book, supporting various financial markets like spot, perpetual, futures, and options. Built on the Cosmos SDK and utilizing Tendermint PoS consensus, Injective achieves instant transaction finality and high performance. With over 100 projects in its ecosystem, INJ serves as a versatile tool for protocol governance, value capture, staking, and incentivizing developers, contributing to the robustness of the Injective ecosystem.
Guide on Staking $INJ
- Selecting the Injective Chain: Commencing the staking process involves selecting the Injective chain. Users can access the Injective platform and navigate to the staking section to initiate their participation.
- Choosing a Validator: The selection of a validator is a crucial step in the $INJ staking journey. Users are encouraged to research and identify validators with a proven track record and reliability. Opting for trustworthy validators enhances the security of the staking process.
- Staking $INJ: Once a validator is chosen, users can stake their $INJ tokens to actively contribute to the Injective chain. The staked tokens play a role in validating transactions and maintaining the network’s security, making participants eligible for potential rewards.
Recommended staking: 3.1 INJ
TIA, the native token of the Celestia network, symbolizes a revolutionary approach to decentralized technology. Operating on a modular blockchain architecture, Celestia offers an environment where anyone can effortlessly launch their own blockchain. With dynamic scaling based on user numbers, Celestia provides an easy-to-use platform for developers and users alike.
Embarking on the staking journey of TIA involves selecting the Celestia chain and choosing a validator. The significance of TIA lies in its unique modular blockchain architecture, simplifying the deployment of custom blockchains and actively contributing to the evolution of decentralized technology. Staking TIA enables participants to play a vital role in supporting Celestia’s modular blockchain vision, maintaining network integrity, and unlocking potential rewards. Celestia’s commitment to inclusivity and user-friendly blockchain deployment positions TIA as a key player in the Cosmos ecosystem, offering infinite possibilities for decentralized applications and protocols.
Guide on Staking $TIA
- Selecting the Celestia Chain: Initiating the staking process involves selecting the Celestia chain. Users can access the Celestia network and navigate to the staking interface to commence their participation. You can also stake $TIA inside Keplr wallet. I prefer the latter.
- Choosing a Validator: The staking journey continues with the selection of a validator. Users are advised to conduct thorough research to identify validators with a proven track record and reliability. Opting for validators that align with the principles of decentralization enhances the overall security of the staking endeavor.
- Staking $TIA: With a validator chosen, participants can stake their $TIA tokens to actively contribute to the Celestia network. The staked tokens play a crucial role in supporting the modular blockchain architecture and maintaining the network’s integrity, making stakers eligible for potential rewards.
Recommended staking: 10.1 TIA
KUJI emerges as the driving force behind the Kujira network, a decentralized finance (DeFi) platform built on the Cosmos chain. Beyond transaction facilitation, KUJI actively contributes to revolutionizing FinTech for web3 builders and decentralized applications (dApps). Staking KUJI enhances network security, supporting the vision of reshaping the future of decentralized finance.
By visiting the official Kujira website, users can embark on their KUJI staking journey. Rigorous research in choosing a validator ensures a secure and rewarding staking experience. Staked KUJI tokens actively contribute to the Kujira network’s evolution, enhancing security, participating in decentralized finance, and making participants eligible for potential rewards. Kujira’s commitment to inclusivity and sustainability positions it as a transformative player in the decentralized finance landscape within the Cosmos ecosystem.
Guide on Staking $KUJI:
- Visiting the Official Kujira Website: Commencing the $KUJI staking journey involves visiting the official Kujira website. This is the primary hub for accessing information, exploring staking options, and initiating the staking process. Or you can also stake inside Keplr wallet. I prefer the later.
- Choosing a Validator: A critical aspect of the $KUJI staking journey is the selection of a validator. Rigorous research is encouraged to identify validators with a proven track record and reliability. This diligence ensures a secure and rewarding staking experience.
- Staking $KUJI: Once a validator is chosen, participants can stake their $KUJI tokens, actively contributing to the Kujira network’s vision of revolutionizing FinTech. The staked tokens play a crucial role in enhancing network security, participating in the evolution of decentralized finance, and making participants eligible for potential rewards.
Recommended staking: 25.1 KUJI
Some more tokens you can consider staking: JUNO, Stargaze
Summary: COSMOS Ecosystem Tokens and how much should you stake
Upcoming Excepted Airdrops in Cosmos Ecosystem
- Dymension (Already announced airdrop)
- Skip Protocol
Things to Know For COSMOS Airdrop
- When you stake your tokens for upcoming airdrops, you can’t unstake and sell your tokens immediately. There is a cool-off time which may vary from token to token. It is generally 21 days, but sometimes 14 days.
- After you unstake, during the cooling period, if any snapshot is taken, you will not be considered in the airdrop.
- You also earn interest when you stake the coins. APY is approximately 15-16% but could go as high as 35% too.
- It is best to avoid going with centralized validators.
- It is best to avoid the top 10 validators.
- When you stake coins, it is best to keep some to be used as Gas in the future.
In a nutshell, Cosmos is more than just tech—it’s a place where staking means getting involved and earning rewards. Voting in governance isn’t an option; it’s a responsibility—vote every two months to shape our Cosmos.
Mainnet/Testnet tasks open doors to Cosmos innovation—try Berachain, Eclipse, Skip Protocol—they’re ready for your input. Wallets like Keplr are not just tools; they’re your pals in Cosmos.
Stake $ATOM, $OSMO, $INJ, $TIA, $KUJI—more than tokens, they’re keys to different ecosystems. Cosmos is our joint creation; each action matters. Explore, stake, vote—be part of the decentralized evolution Cosmos is all about. The revolution is here, and you’re part of it.
You can make 200USD to 500USD per airdrop if you have followed all the steps, and staked all the coins above.