Concordium — How to stake your $CCD tokens with Myrmidon Staking

Myrmidonstaking
2 min readOct 20, 2022

Updated guideline (July 2023) can be found here: https://myrmidonstaking.medium.com/how-to-setup-your-wallet-and-stake-your-concordium-ccd-2c052c9a395d

Intro:
Concordium is a privacy-focused, public and permissionless blockchain architecture. The Concordium Platform is designed to be fast, secure and cost-effective. Concordium’s innovative identity layer provides on-chain identity, compliance-centric transactions and enhanced privacy for users, while also allowing for the de-anonymization of network participants. Concordium’s two-layer consensus protocol consists of a Nakamoto-style consensus blockchain and a finality layer for fast confirmation of transactions. Concordium uses a sharding design that enables high transaction throughput and private shards for business use cases and sensitive data. Concordium also enables interoperability and communication between shards and between Concordium and other blockchains.

Some highlights of Concordium:

  • First blockchain with ID layer at protocol level
  • Time to finality → Average 11 seconds
  • Average transactions fee → 0.01$ stable/pegged to EUR

Step-By-Step guide to stake:

  1. Go to your wallet and chose your account

2 & 3. Go to delegation in the menu

4. Start delegation or Update current delegation

5. Push “Next”, “Next” and “Continue”

6. Type 85192 in pool ID and “Continue”

7. Chose amount and “Continue”

8. Submit delegation transaction

Congratulations! You are now staking your CCD with Myrmidon Staking and will receive CCD staking rewards every day, directly to your wallet.

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