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Avalanche (AVAX) Delegation Guide

Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments. Avalanche is relying on a unique approach of using three different blockchains (X, C, and P-chain) to provide solutions to old blockchain problems of scalability, interoperability, and usability.  ​

The X-chain is used for creating and exchanging Avalanche's native token, AVAX, the C-chain is where developers create smart contracts for dApps, and the P-chain is acting as a platform for coordinating network validators, tracking active subnets, and allowing for the creation of new subnets. Taking on different roles, the three blockchains improve speed, scalability, and interoperability. ​

Avalanche was founded in New York in 2020 by Ava Labs.

1. Setup and Fund the Avalanche Wallet

1.1 Create wallet

1. Go to Avalanche Wallet
2. Click Create New Wallet
3. Click Generate Key Phrase
4. Copy the Key Phrase and store it safely
5. Once you have securely stored your Key Phrase, select Access Wallet
6. Verify your Key Phrase by following the instructions and select Access Wallet

Please note: In the upper right corner of the Avalanche Wallet, you have the option to switch between three wallet address choices: X, P, or C. Each option represents a unique wallet address for different chains in the Avalanche network.

• The X-Chain, known as the Exchange Chain, is used for sending and receiving funds.
• The C-Chain, or Contract Chain, serves as the chain for smart contracts and decentralized finance (DeFi) applications.
• The P-Chain, or Platform Chain, is designed for staking AVAX tokens or operating a validator node. The P-Chain allows transfers from both the X-Chain and C-Chain through the Cross-Chain transaction feature in the Avalanche Wallet.

Exercise caution when performing these steps to ensure that you deposit your AVAX tokens into the intended wallet. Sending them to the wrong chain's wallet may result in the loss of your AVAX funds.

1.2 Fund Wallet

1. Go to your Dashboard in the Avalanche Wallet
2. In the top right corner, you will find the Derived Wallet Address for each of the 3 chains. Make sure that the chain selected is the same as where your AVAX is stored.
3. Copy the Derived Wallet Address in your Avalanche Wallet.
4. Access the wallet or exchange platform where your AVAX tokens are held, and initiate a transfer to the correct Avalanche Wallet chain address that you just copied.
5. After completing the process, you will see your AVAX balance displayed on the dashboard of your Avalanche Wallet.

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2. Stake AVAX with NORTHSTAKE

2.1 Transfer AVAX to the P-Chain

1. If your account was funded from an external wallet or an exchange, your AVAX tokens will most likely be on the X-chain
2. In the Avalanche Wallet user interface, locate the Cross Chain option in the left menu
   
3. Initiate a token transfer from the chain where your tokens are currently stored (C-Chain or X-Chain) and select P-Chain as the destination chain.
4. Specify the desired amount of AVAX you wish to transfer for staking and proceed by confirming the transaction.
5. Your AVAX tokens should now be visible in the Avalanche Wallet user interface under the P-Chain section, indicating that they are ready for staking.

2.2 Delegate to NORTHSTAKE's node

1. Access the Avalanche Wallet platform.
2. Choose the "Earn" option from the menu on the left-hand side of the platform
3. Select "Add Delegator" under the "Delegate" section.
4. Locate and choose NORTHSTAKE's validator node from the available options listed under "Node ID"
   NORTHSTAKE'S validator node address: NodeID-9iuMMyL7LZyUxMK9s735hcRng58bSj3gw
5. Click Select next to NORTHSTAKE's validator address
6. Specify the staking period, amount to stake, and the reward address for your AVAX token rewards, if that should be another address.
7. Press Confirm and you will now be staking!

Congratulations! 🚀

Your AVAX tokens are now actively staking, and you will begin earning rewards while contributing to the network’s security.

By following this AVAX staking guide, you have taken an important step in participating in the Avalanche ecosystem. If you found this guide helpful, consider sharing it with a friend to help them get started with AVAX staking too.

Get support

If you want to get continued support and want to know more about delegating and validating on the Avalanche network, reach out to northstake at info@northstake.dk or join our Telegram group.

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