Steakwallet adds native support for AVAX Staking

Steakwallet (now Omni.app) users can now manage all of their Avalanche assets in one place and utilize an AVAX staking experience that is second to none. Read on to learn more about Steakwallet's AVAX integration. 👇

Steakwallet is a next generation multi-chain self-custodial Web 3 wallet on mobile. Our goal is to give users one place to manage all their assets across chains and make engaging with Web 3 as easy as never before. To achieve this, Steakwallet brings critical functionality natively into the app where we abstract away backend complexity and add a market leading user experience. This includes Steakwallet’s signature 3-tap staking flows, which make participating in securing blockchain networks and earning yield as simple as ordering an Uber or a pizza. With our Explore Screen, Steakwallet allows you to find all the right dApps on any chain. With one simple tap via WalletConnect, you can now easily bridge, swap, and ape into any yield opportunity right from your phone. And with multi-chain NFT support, you can collect all of your favorite NFTs in one place and even set them as your background for to easily flex your collection.

Now this is what a Web 3 wallet should look like!

Steakwallet Features

• Your Keys = Your Crypto

• Multi-Chain By Default

• Native Staking Flows

• Discover the best of each chain on our Explore Screen

• Best Rates

• Mobile-First

Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is developed by Ava Labs and tries to improve on legacy blockchains with a unique architecture. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain and P-Chain. Each chain has a distinct purpose, which is a radically different approach to most other blockchains like Ethereum, namely having all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms based on their use cases but are interoperable within the ecosystem:

• The Exchange Chain (X-Chain) is employed to create and exchange the native AVAX tokens and other assets. Similar to the ERC-20 standard on Ethereum, these tokens follow a set of standardized rules. It uses the Avalanche consensus mechanism.

• The Contract Chain (C-Chain) hosts smart contracts and decentralized applications. It has its own Avalanche Virtual Machine, similar to the Ethereum Virtual Machine, allowing developers to fork EVM-compatible DApps. It uses the Snowman consensus mechanism.

• The Platform Chain (P-Chain) coordinates network validators, tracks active subnets and enables the creation of new subnets. Subnets are sets of validators. Each subnet can be validating several blockchains, but a blockchain can only be validated by one subnet. It also uses the Snowman consensus mechanism.

This division of computing tasks enables higher throughput without compromising on decentralization, while the modular structure also improves interoperability with other blockchains wishing to integrate with the Avalanche ecosystem.

Steakwallet x Avalanche

Steakwallet supports all assets on Avalanche, as well as offering a dedicated Avalanche ecosystem page in the Explore Screen section of the wallet. This not only allows users to manage all their Avalanche based tokens, but also let's them explore the best dApps the ecosystem has to offer.

With the launch of the Steakwallet Beta, finding the right yield opportunities across chains has never been easier. In our new explore screen, users will be introduced to all the relevant DeFi opportunities and dApps. On Avalanche, this includes Essentials such as the Avalanche Bridge to transfer assets over from Ethereum, AMMs like TraderJoe or lending via Benqi, but also more ways to earn than native AVAX staking, such as Ribbon. Steakwallet users can simply connect via WalletConnect and have the whole Avalanche world at their fingertips.

Steakwallet brings users native AVAX staking

Steakwallet’s signature 3-click staking mechanism makes it as easy as possible for users to start earning yield on their Avalanche assets. Users simply:

1. Click Stake AVAX

2. Choose the amount to stake

3. Confirm and earn!

By allowing anyone to stake in just a few tabs, Steakwallet helps users to provide better economic security for the Avalanche blockchain. Apart from earning rewards for participating in the network, staking your AVAX helps secure the Proof-of-Stake Avalanche network and protects the ecosystem that is being built.