Guide to Cross-Chain Delegation
The integration with Axelar marks a groundbreaking shift in the DePIN landscape by introducing cross-chain delegation. This feature will allow users to delegate their assets to DePIN networks and earn DePIN rewards from various blockchain ecosystems without the requirement of managing physical infrastructure or owning the native DePIN tokens. Through this partnership, Parasail will enable delegation from any connected chain on Axelar, thanks to Axelar’s ITS and Squid router.
Here’s how cross-chain delegation empowers users:
- DePIN Reward Opportunities: Users can now delegate assets from other blockchains to swap for liquid staking DePIN tokens and earn DePIN rewards, like pFIL and other pTokens, without needing direct ownership of DePIN hardware infrastructure.
- Increased Accessibility: With Axelar’s cross-chain capabilities, DePIN staking is accessible to more blockchains and ecosystems, leading to increased distribution and expanded outreach for DePIN rewards.
- Enhanced Efficiency: By connecting multiple ecosystems, cross-chain delegation simplifies user experience and streamlines DePIN staking for users outside of these DePIN ecosystems.
Follow the instructions below to participate in cross-chain delegation on Parasail!
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Head to parasail website: https://www.parasail.network/
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Click on the ‘Swap’ Tab
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Select the token of choice to swap for DePIN staking tokens (pTokens, such as pFIL). Please note that wrapped staking tokens are being swapped due to the requirements of on-chain transactions. You can always unwrap it from the Delegation page.
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Connect your wallet to Parasail.
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Enter the quantity of tokens to swap to DePIN staking tokens.
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Click ‘Swap’.
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Authenticate the transactions from your wallet.
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Once approved, wait for the transaction to be completed to obtain your DePIN staking tokens!
