Public staking launched on Flare at the end of October 2023. By delegating FLR stake to network validators, you help support network security while earning a share of the validation rewards.
[Article updated 11 Jan 2024 to include Bifrost Wallet as a 4th option.]
To stake FLR, you need a compatible wallet and a minimum of 50,000 FLR tokens. There are now four different ways in which to participate in staking, each with different security guarantees:
- Using the official FlareStake staking tool and a Ledger hardware wallet.
- Using the Solidifi mobile app.
- Using MetaMask and the FTSO.AU web app.
- Using the Bifrost Wallet app.
We are grateful to the SolidiFi, Bifrost Wallet & FTSO AU teams for developing these alternate options for accessing staking. Although they are reputable builders within the ecosystem, Flare needs to be cautious and not provide official endorsement because community funds could potentially be at risk. Please ensure you do your own research.
FlareStake & Ledger hardware wallet
The official Flare staking tool can be found at https://staking.flare.network/. You need a Ledger device to use the tool. At launch this was the only possible way to participate in staking on Flare. The method was chosen because it is the safest, even though it meant fewer people were initially able to participate.
Using a Ledger device means that your private keys are never revealed during the staking process, while the Avalanche Ledger app provides details on the transaction being signed. You therefore have no risk of private key exposure and you can ensure the transaction is as expected before signing. As with all crypto transactions, it still makes sense to be careful, for example in the avoidance of spoofed websites with similar urls.
SolidiFi Mobile App
The SolidiFi team have added Flare staking to their mobile app. It’s already live on both Android and iOS.
You can use the SolidiFi mobile app for a complete staking experience: create a new wallet, deposit FLR, move your funds between the C and P-Chain, delegate stake to the validators of your choice and claim rewards.
While nothing is as secure as cold storage, such as a Ledger Nano, SolidiFi’s mobile app minimizes the exposure of the private key by isolating its usage to only when it’s necessary and after a user’s confirmation. The private key is only accessible to the FlareJS package for signing transactions. Since this is a self-contained mobile application, there is no risk of falling victim to a spoofed website stealing the exposed key.
FTSO AU & MetaMask
The FTSO AU app now supports Flare staking via MetaMask. This opens up staking participation to a wide audience.
For this method to work it requires the activation of “eth_sign” within the MetaMask settings. Using eth_sign is considered a less secure method of signing transactions due to the inability for MetaMask to read the data you are signing.
For this reason, MetaMask will give you some strong warnings. Please read the full FTSO AU blog before trying this method. Tim Rowley has also written a detailed tweet about managing security concerns. We’d recommend creating a separate staking wallet, and please remember to turn off “eth sign” once you have completed the staking process.
This method potentially poses greater risk than the other two methods, so please follow the recommendations provided regarding wallet security.