How to stake in the Nym mixnet
Put your NYM tokens to work for preserving privacy in the age of AI
Put your NYM tokens to work for preserving privacy in the age of AI
Nym is a powerful privacy mixnet that fixes the privacy problem at the core of the internet. Put your NYM tokens to work, join the global revolution to ensure AI for the people and earn rewards!
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Put your NYM tokens to work — staking
The Nym mixnet is operated by mix nodes all across the world. These nodes mix internet traffic protecting data, metadata, IP addresses and patterns of communication. The mix nodes are rewarded for this work in NYM tokens.
- Want to run a mix node? Read more
Nym token holders can stake NYM tokens on a mix node — which helps secure the network! So even if you don’t want to run a mix node you can still contribute by staking NYM.
When you stake on a mix node, that increases the mix node’s reputation. This makes it more likely that it will be part of the mixnet, which in turn increases its chances to earn rewards. You, as a staker on that mix node, will earn a share of that node’s rewards.
How to stake
1. Download the Nym wallet and get native NYM tokens
The Nym wallet provides the interface for you to delegate your stake. You will need native NYM tokens in order to delegate stake in the Nym mixnet. If you have ERC20 NYM tokens, you can bridge these to native NYM tokens on the Nyx chain— read more.
Join our community to find out more about how to get native NYM tokens.
2. Go to the mixnet explorer and chose a mix node
In the explorer you can browse Nym mix nodes. You will want to find a mix node that has:
- Good stake saturation (as that signifies reputation), but not 100% or over — as that means the mix node is fully saturated and will not yield optimal rewards.
- Low’ish profit margin as that is the amount the operator takes for themselves before sharing with their delegators. (You don’t want too low though as you want to ensure the mix node is financially viable).
- Good routing score, as this is the performance of the mix node.
You might want to look at other parameters also, like location and so on to ensure the mixnet remains global and decentralised — read more.
Join our community to get tips on which mix node to delegate to.
3. Use the Nym wallet to delegate stake
Copy the mix node ID from the explorer. Go to the delegate section of the wallet to delegate by pasting the mix node ID and the amount you want to delegate.
NOTE: Remember to leave a few tokens in your wallet as you will need these for fees to undelegate later when you want to redeem your rewards!
You will now earn a share of rewards from the mix node’s that you have delegated to. Your rewards will compound automatically, meaning your rewards will be added to the stake on that mix node. You can delegate to several different mix nodes if you like, and even chat with the operators all over the world in our community channels!
Welcome to Nym — and the mission of privacy in the age of AI!
You are now contributing to one of the world’s most powerful privacy systems. You can withdraw your delegation, delegate to a different mix node and redeem your rewards at any time. (It can take up to one hour as that is the time length of an epoch).
Resources
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