GROW Beginner's Guide: BABY Staking

Dear GROW users and Babylon network communities,

We are thrilled to announce that GROW now supports BABY holders, making it easier for them to enjoy BABY staking through our services.

Check out the details below and try BABY staking on GROW!

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Step 1. Create BABY Wallet

To deposit BABY, you must first create a BABY wallet.

1. Open the GROW app and click the [Deposit] button in the Total Asset section.
   

2. Click the Select Coin field and choose [BABY].

3. Click on the [Create Deposit Address] button.

   Now you have created a BABY deposit address to which you can send BABY.
   

   *BABY supports up to 6 decimal places.
   

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Step 2. Depositing Tokens

Please deposit BABY into your wallet. Make sure to enter the correct deposit address when sending funds to your GROW account. Deposit addresses only accept the specified cryptocurrency — sending the wrong type of token or entering an incorrect address may result in permanent loss of funds due to the nature of blockchain technology.

By default, funds in your BABY account do not earn rewards (unlike GROW Flexible Earn accounts). To start earning rewards with BABY, you need to stake your tokens.

Let’s go through the steps to stake BABY.

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Step 3. Staking Tokens

Now that you have deposited BABY into your GROW account, you can stake BABY tokens and start earning rewards from the Babylon network.

In addition, as per the network policy, the minimum staking amount is 1 BABY.

1. On the main page, press the [Total Asset] box, and click on the [Staking] tab to load your [BABY] wallet.

2. Click on [Adjust Stake], and select the number of BABY tokens that you would like to stake. You can input the amount or use the slider for convenience.

   
   

   *Please note that you must always have at least one unstaked BABY available to cover network transaction costs. These transaction costs are incurred directly from the Babylon network.
   

3. Press [Apply Changes] to stake your selected amount of BABY.
   

Now you have submitted a BABY Staking Request. The request will be reflected when the current epoch ends. Following this, the full staking process typically takes up to 1 hour to complete.

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How to unstake BABY

If you have less than 500 BABY remaining at the time of unstaking, the process may not work properly. If you wish to proceed with the unstaking, please ensure that you have more than 500 BABY remaining in your account, or unstake the entire amount. 

1. Adjust the slider or input the amount of BABY that you would like to remain staked. If you want to completely unstake BABY from GROW, move the Slider to Min or enter 0 manually.

2. Press [Apply Changes] and click [YES] button to complete the Unstaking request.
   

   

Congratulations, you have submitted a BABY unstaking request.

• Please note that according to Babylon network rules, the unstaking process for BABY may begin only after the current epoch ends.

• The full unstaking process typically takes around 50 hours, which is equivalent to 300 Bitcoin block confirmations.

• After a transaction is created, no additional transactions can be made within the same epoch. You must wait until the current epoch ends before performing another transaction. An epoch can take up to approximately 1 hour to complete.

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How to claim BABY staking rewards

Through GROW, you can earn two types of rewards on your staked tokens. This section will cover the process for claiming BABY rewards manually.

Please note that BABY switches to Auto Stake upon wallet creation. If you choose to turn off the auto staking status, please be aware that a transaction fee may occur at that time.

1. On the ‘BABY’ page, [Claim] on the Reward box. Please note that Claim is only possible when Auto Staking is turned off

2. After reviewing the Reward Amount (BABY) and Estimated max. fee (BABY), press [Claim] to continue.

Congratulations, you have claimed the Reward (BABY) on your staked BABY. You can confirm the details of claimed rewards on the Reward tab.

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How to set Auto Stake

When creating a BABY wallet, the network policy automatically enables Auto Staking.

When Auto Staking is enabled, any rewards you’ve earned will first be fully claimed before Auto Staking is applied.

To manually enable or adjust Auto Staking:

1. Click the [Auto Stake] button in the top-right corner.
   

2. Select [Auto Staking On], then click [Save Changes].
   

3. If there are unclaimed BABY rewards, a pop-up will appear. Click [Yes] to claim all current rewards and enable Auto Staking.

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About GROW

Singapore-based GROW offers top-notch reward rates so that clients can safely grow their wealth on a leading global platform for lending and borrowing crypto assets. Additional company information and details on the GROW app can be found by visiting  www.grow3.io.