Quick Links

A brief note before proceeding: You can right-click on the images in this document and select “open in new window” to view relevant video tutorials.

Althea L1 Blockchain Basics

Creating a new Althea Wallet

If you are starting fresh, there are two steps necessary before you begin. Firstly, installing a wallet manager (MetaMask) and secondly creating your new Althea wallet.

Installing MetaMask Wallet

Althea L1 is an EVM compatible blockchain and MetaMask is the recommended wallet. If you have not already, you will first need to install MetaMask.

To do so, first visit the official MetaMask website and select the appropriate version for your browser or mobile device.

Adding Althea L1 to MetaMask

Once you have installed MetaMask, visit https://althea.zone

At the top right corner of the page, click the “connect wallet” button.

Select MetaMask from the wallets listed.

Your MetaMask wallet will pop up and ask if you wish to connect your wallet to althea.zone. Click the next button.

It will then ask you to give Althea.zone permission to interact with your wallet. Click the connect button.

Now Althea.zone will add the Althea L1 Network to your wallet. You will need to scroll down and click approve.

Finally, MetaMask will ask if althea.zone can switch to the Althea L1 Network. Click switch network.

Acquiring $ALTHEA Tokens

Currently Althea L1 is in the final phase of testnet. After launch, information on how to acquire $ALTHEA tokens will be added here.

Tips for Staking $ALTHEA

When selecting a validator with whom to stake your $ALTHEA, it is worth keeping three factors in mind: Decentralization, reputation and commission.

Decentralization

The Althea UI automatically filters out the top-10 validators, according to voting weight. This is to encourage an even spread of token delegations across the validator set, benefiting both validators and the health of the chain. Nevertheless, you are encouraged to consider staking with a validator that is not at the very top of the validator set, or diversifying your delegation across multiple validators.

Reputation

When selecting a validator prioritizing decentralization is key to ensuring network security and resilience. Look for validators with a track record of reliability, transparency, and active participation in governance. Consider their infrastructure robustness, geographic distribution, and commitment to promoting a diverse validator set. Diversifying your stake among multiple validators helps mitigate risks and contributes to a healthier and more decentralized network. Stay informed about validator performance, community feedback, and network upgrades to make informed decisions that align with the long-term goals of the Cosmos ecosystem.

It is important to note that when governance proposals are live, the validator with whom you have staked your $ALTHEA will cast a vote using your delegation power.

If you’d like more about the individuals and teams behind the validators in the active set, you are encouraged to visit the validator promotion category of the Althea Forum. This is where validators will make introductions and provide background on their services and track record. You can also make direct inquiries in the #validator-promotion channel of the Althea Discord Server.

Commission

Each validator sets their own commission rate, which represents the percentage of the staking rewards that are paid to the validator as they accrue. For example, if a validator has a commission rate of 10% and your stake has accrued 1 $ALTHEA in staking rewards, when you withdraw the rewards you will receive 0.9 $ALTHEA and the validator will receive 0.1 $ALTHEA. This commission incentivizes validators to maintain the infrastructure needed to validate for the chain. When selecting a validator, the commission rate is something to consider.

That said, validators are discouraged from setting extremely low (or zero) commission rates in an attempt to draw delegations, as this practice promotes centralization of token delegations. This scheme is typically meant to grow their delegations rapidly, only to raise the commission rate later. For this reason, we would encourage you to avoid delegating to validators with an extremely low commission.

How to Stake Althea

To stake your $ALTHEA, earn rewards, and support the Althea L1 blockchain, first visit Althea.zone.

1) Select the staking tab at the top of the page. If you have not already, connect your wallet by clicking the connect wallet button and approve the request in MetaMask.

2) After examining the validator you would like to delegate to, click the delegate button.

3) As in the video above, enter the amount of $ALTHEA tokens you wish to delegate, click delegate, and sign the transaction.

Claim Staking Rewards

After your delegation has accrued staking rewards, you can collect using the staking section of althea.zone.

Navigate to althea.zone
Connect your wallet
Select “Staking”
On the right, click the “claim staking rewards” button

Sign the transaction via MetaMask

A “Claim Rewards successful” message will appear in the upper right when the transaction is completed. You will now note that the pending rewards balance has decreased, and your wallet balance has increased relative to the amount of staking rewards claimed.

Voting

For a more detailed look at community governance and voting dynamics, you are encouraged to read the documentation on Althea L1 Network Governance. This section will only cover voting with MetaMask or from the command line.

Voting with MetaMask

First navigate to the governance section of Althea.zone and confirm that your wallet is connected before proceeding.

1) Click on any active proposal that you wish to vote on

2) Select Yes, No, Abstain, or Veto

3) Sign the Transaction with MetaMask

4) Success!