Ledger Staking

[Beparanf]

I notice that ledger has its own staking page on the ledger live app. I become interested on the APY of Atom staking with a whooping 22% APY. I’m skeptical if the staking feature of ledger is from them or by 3rd party defi.

Anyone try to stake to their earn page? Their APY is way higher than the Cosmos hub staking offer. This makes me doubt the integrity of their Staking page.

Your input will be appreciated.

[OmegaStarScream]

I haven't, but according to their FAQ (see this[1] for more details), they are using KILN as a partner to allow their users to stake their funds which according to them is a non-custodial solution and shouldn't give them access to your funds.

[1] https://www.ledger.com/academy/basic-basics/keep-growing-it/stake-your-crypto

[seek3r]

I notice that ledger has its own staking page on the ledger live app. I become interested on the APY of Atom staking with a whooping 22% APY. I’m skeptical if the staking feature of ledger is from them or by 3rd party defi.

Anyone try to stake to their earn page? Their APY is way higher than the Cosmos hub staking offer. This makes me doubt the integrity of their Staking page.

Your input will be appreciated.

By the way: The rate for Cosmos on their Earning page is calculated as APR (Annual Percentage Rate) which doesnt use the the compounding effect of the interest.
That means that this rate would be even higher in APY.

I'm not staking $ATOM but I dont know why you are skeptical by their rate. I just checked https://www.stakingrewards.com/asset/cosmos and there are a lot of validator which offers the same rate that is stated on the ledger tab.

With Ledger live you are delegating ur $ATOM token directly to the validators that are shown on the previous site. You are not using a 3rd party for that.
One last hint: Keep in mind that staked tokens are frozen/locked for atleast 21 days.

I haven't, but according to their FAQ (see this[1] for more details), they are using KILN as a partner to allow their users to stake their funds which according to them is a non-custodial solution and shouldn't give them access to your funds.

[1] https://www.ledger.com/academy/basic-basics/keep-growing-it/stake-your-crypto

This should only effect ETH Staking. They are using Kiln for ETH Staking since its a service for pooled staking.

[Yamane_Keto]

Your private keys are not supposed to leave your HW device to a third-party, and therefore Ledger staking is considered safe, but after new Ledger recovery service, there have become many questions and doubts about Ledger.

about Ledger Staking as 22% APY is not sufficient reason to reinforce your doubts, as you can find it on other platforms, but The risks that you may be exposed to are slashing when validator engaging in malicious or incorrect behavior, which may lead to you losing your reward, so be careful in choosing the validator.


If you want more information about what I mean, read this article
https://p2p.org/economy/slashing-overview-in-cosmos-network/

[m2017]

I notice that ledger has its own staking page on the ledger live app. I become interested on the APY of Atom staking with a whooping 22% APY. I’m skeptical if the staking feature of ledger is from them or by 3rd party defi.

Anyone try to stake to their earn page? Their APY is way higher than the Cosmos hub staking offer. This makes me doubt the integrity of their Staking page.

Your input will be appreciated.

Maybe Ledger should just demand that the cryptoassets of their clients be given directly to them? Without any extra shells under the guise of certain services.

After those incidents with the loss of personal data of their clients, the dubious services they offer, such as sending the recovery phrase to a third party, some doubts about the reliability of the source code, which is closed, and other things, does anyone still doubt whether to use services from Ledger, such as staking?

Staking is first and foremost a matter of trust. Are you ready to trust a company that has repeatedly screwed up?

[Yamane_Keto]

does anyone still doubt whether to use services from Ledger, such as staking?

Staking is first and foremost a matter of trust. Are you ready to trust a company that has repeatedly screwed up?

Currencies that operate on the principle of proof of stake enable you to obtain a percentage every X time without even revealing your private key, and thus profits can be made from hardware wallets. What you say is true if the currency is POW and you want to obtain ARY. Here you must trust a third party because it More like a loan.

you can stake Cardano (ADA) on the Trezor Model T which is OS HW https://trezor.io/learn/a/cardano-ada-on-trezor-model-t

[Beparanf]

Thanks for all the help. I manage to stake using Ledger itself as validator since they only charge 7.5% commission rate while other safe validators offer higher.

Also I just want to share that 21 days is required unstake Atom tokens for those who will read this thread in the future. I will not stake my tokens if I knew that it took almost a month just to unstake it without any reward. This info should be displayed during staking procedure. Ledger sucks at its finest!