Ready to stake your INJ? Interested in voting for new Injective governance proposals?
The Injective Hub Guide will walk you through all the major details you need to get started!
Accessing the Hub
Connect to https://hub.injective.network/ on your browser. You will land on the Dashboard section and will be presented with an overview of the Hub.
Connecting your Wallet
On the top right, you can view and copy your INJ address and the equivalent address in Ethereum. The ‘Disconnect’ option is also found here.
Bridging from Ethereum to Injective
In order to stake on the Injective Chain, you must bridge your ERC20 INJ tokens to receive native INJ. To do so, head to the Bridge page on the left panel of the Hub.
Click on the drop-down list and choose INJ as the asset.
You will see your INJ balance on Ethereum and on the Injective Chain. The first step is to ‘Set Allowance’, which allows the bridge contract to use your INJ for the transfer. This will prompt you to sign a transaction via MetaMask or Ledger.
Note that in order to bridge tokens from Ethereum, you must pay gas fees in ETH. When the allowance is set and the transaction is confirmed on the Ethereum network, you will be able to provide the amount for the transfer as shown below.
Click on ‘MAX’ or manually insert the amount that you wish to bridge. Select ‘Transfer’ and you will be prompted to sign a transaction on MetaMask or Ledger to convert your ERC20 INJ to native INJ.
Note that it might take up to 4 minutes for your balances to reflect on the Injective Chain after the transaction has been confirmed on Ethereum.
You can follow the same steps to bridge any ERC20 token to the Injective Chain! Bridged tokens can be used for staking or trading on Injective.
The next step is to stake your INJ by delegating to a validator. To do so, go to the Staking Page by selecting the tab on the left panel of the Hub. You will see some general information such as staking APY and total INJ staked, followed by a list of all active validators.
Note: The APY rate can be increased via community-based governance.
At this point you should choose a validator. Injective’s validators are comprised of a prominent cohort of established organizations with years of experience in securing Proof-of-Stake blockchains. Please read this article for more information on the Injective genesis validators.
Pro Tip: You can also delegate to many validators. For example you can delegate 50% of your holdings to Validator A and 50% to Validator B.
Once you’ve picked your validator, select ‘Delegate Now’. A popup window will appear, and you can specify the amount of INJ that you wish to stake.
Click on ‘Delegate’ and you will be asked to sign a transaction, which will take place entirely on the Injective Chain. This means you no longer need to pay high gas fees!
You can head back to the Wallet page to view your delegations. You claim your rewards though the Wallet page which are distributed continuously on every block.
You can also re-delegate your stake to a different validator. You will continue to earn rewards if you re-delegate as opposed to unbonding. When you unbond your tokens, you will stop receiving rewards and your original INJ balance will be returned to you after the unbonding period which is 21 days. The unbonding period can be changed via community-based governance.
Participating in Governance
Community members with INJ staked can play an active role in governance and vote on proposals that will ultimately shape the future of Injective!
Select ‘GOVERNANCE’ on the left panel where you will be presented with an overview of the latest proposals, as well as general information about governance.
You can also create your own governance proposal on the Injective Hub but it is highly recommend that you collaborate with fellow contributors and discuss your ideas informally on the Injective governance forum before making a formal proposal. The forum serves as a place for the Injective community to gather and discuss ideas that work towards growing the protocol.
Clicking on ‘New Proposal’ will open a popup window from which you can propose a new market. You can read this article to fully understand the lifecycle of a governance proposal.
Proposals can be filtered based on their status (deposit, voting stage, passed or rejected).
Clicking on a proposal that is in the voting stage will open a new window with comprehensive information and will allow you to vote on the proposal with your voting power which depends on your INJ stake.
The Frequently Asked Questions (FAQ) section on the left panel serves as a convenient resource to gain knowledge on all aspects of Injective.
If you have any questions that are not answered by the FAQs, feel free to hop in the official Injective Discord channel and the community will assist you!
This blog was updated in October 2022.
Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications. Injective was created using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.