Instructions for Delegation in Axiome Wallet

Now that you have created a wallet in Axiome Wallet and purchased AXM, you can start delegating and earning income.

Table of Content:

How to delegate AXM?
Two types of wallets — main and delegation wallet
How to receive rewards for delegating AXM?
How to undelegate AXM?
How to cancel undelegation of AXM?

How to delegate AXM?
To delegate the purchased AXM, go to the “Staking” tab and click the “Delegate” button.

In the pop-up window, select a validator and enter the amount.

The “Available” indicator shows the balance of your main wallet, which is where you transferred the purchased AXM.

Now click “Confirm.” Your AXM will be transferred from the main wallet to the delegation wallet, where AXM that earns rewards is stored.

For each delegation, a 15% partner commission is charged for higher-level mentors in the affiliate program, as mentioned earlier. This motivates the community to become more engaged in the development of the project by paying generous affiliate rewards.

When delegating, don’t forget to leave a few AXM to cover network fees for future transactions. Otherwise, you won’t be able to collect even your delegation rewards.

That’s it, you’ve delegated AXM! Before receiving the reward, let’s understand the two types of wallets in the app.

Two Types of Wallets — Main and Delegation Wallet

Main Wallet — here, free AXM tokens are stored, which can be delegated or sent. These tokens do not earn rewards.

What can be done with AXM in the Main Wallet?

Delegate
Send

Delegation Wallet — here, tokens delegated to Axiome Chain validators are stored, and they earn rewards.

What can be done with AXM in the Delegation Wallet?

Undelegate — withdraw AXM back to the main wallet from the validator’s stake.
Move the stake from one validator to another.
Collect rewards — transfer accumulated rewards to the main wallet.

Now that we’ve learned to differentiate between wallet types, let’s move on to the next instruction!

How to Receive Rewards for Delegating AXM?
To receive delegation rewards, click “Collect” in the delegation wallet to transfer them to the main wallet. We’ve discussed the types of rewards in more detail above.

How to Undelegate AXM?
You can transfer AXM back to your main wallet. To do this, go to the “Staking” tab and click the “Undelegate” button.

In the pop-up window, select the validator, enter the amount, and click the “Confirm” button.

That’s it! In 30 days, your AXM will be transferred back to the main wallet, minus the 10% burning fee.

The delegation wallet will show the amount of AXM in the process of undelegation and the date of the last undelegation.

How to Cancel Undelegation of AXM?
You can also cancel the undelegation and keep your AXM in the delegation wallet to continue earning rewards. To do this, find the “Undelegation Initiation” transaction that you want to cancel.