For those wishing to participate in staking without running a validator, delegation is the best approach to still get involved and earn block rewards. The act of delegating tokens and earn rewards is called staking.
Harmony ONE holders can delegate their tokens to existing validators using our staking explorer: https://staking.harmony.one/. If the tokens are delegated to an elected validator, a portion of the block reward earned by the validator will be credited to the delegator (according to section Block Reward).
The earned block rewards are stored in a separate reward balance of the delegator, which can be immediately withdrawn to the delegator’s account balance. The block rewards can also be staked again to achieve the compounding effect of staking.
Your delegated tokens are also associated with slashing risks of the validator. As a delegator, you should carefully choose validators based on their historical performance metrics such as APR, uptime and commission. In case of indifference or indecisiveness, you should distribute your delegations among multiple validators in order to minimize risk.
New Delegators Quick, Simple Walkthrough:
✍️ Using the new extension create a new wallet or recover an existing one using seed words.
👀 Choose a validator (or a few)
💰 Stake your tokens
🤑 Earn block rewards every 2 seconds.