You Can Now Stake Your LOOM Tokens Directly from Your Cobo Wallet 💰

Summary

Cobo Wallet has become the first mobile wallet to integrate LOOM token staking directly within the Loom Network's staking dashboard, facilitating easier and more accessible token delegation for users.

Abstract

Loom Network has announced the integration of mobile wallet support for LOOM token staking on their staking dashboard, with Cobo Wallet being the inaugural mobile wallet to offer this feature. This development allows users to stake and delegate their LOOM tokens directly from their mobile devices, simplifying the process and enhancing accessibility. The update follows the rebranding of Basechain, formerly known as PlasmaChain, and represents a significant step in making staking more user-friendly. With over 142 million LOOM tokens already staked through desktop support, the addition of Cobo Wallet's mobile staking capability is expected to increase community participation in securing Basechain. The Loom Network encourages users to understand the staking economics and learn the staking process, while also inviting suggestions for future mobile wallet integrations.

Opinions

The author expresses excitement about the integration of mobile wallets, particularly Cobo Wallet, into the Loom Network's staking dashboard.
The author believes that the ability to stake LOOM tokens directly from mobile wallets will significantly simplify the staking process and make it more accessible to a broader audience.
There is an anticipation of increased community engagement and staking activity due to the convenience offered by mobile wallet integration.
The author suggests that users familiarize themselves with the benefits and mechanics of staking LOOM tokens to make informed decisions.
The author is open to community input, inviting suggestions for additional mobile wallet integrations, indicating a commitment to community-driven development.
The author highlights the Loom Network's existing robustness, noting that it is already a live, audited, and battle-tested platform for deploying high-performance dapps across multiple blockchains.

Update:

Basechain was formerly known as PlasmaChain. Read the official announcement.

As you may already know — you can stake your LOOM tokens to help secure Basechain by using MetaMask or Ledger via our staking dashboard.

Today, I am excited to announce support for mobile wallets on the latest release of the dashboard.

To get the party started — Cobo Wallet will be leading as the first mobile wallet to be supported on our staking dashboard.

In other words, in addition to being one of the latest validators on Loom Basechain — our friends at Cobo will be adding native LOOM staking to their mobile wallet.

So you can now deposit and delegate LOOM tokens to your favorite validator directly from your Cobo Wallet.

You can now deposit and delegate your LOOM tokens directly from your Cobo Wallet.

And just in case you weren’t aware…

As of this writing, over 142 million LOOM have been staked by the community — and that’s JUST with desktop support.

Since Cobo Wallet is spearheading the ability to delegate LOOM directly from its mobile wallet — this is going to make token delegation even simpler, and more accessible to more people.

…imagine what will happen when we integrate with even more mobile wallets in the future 🔥

If you are curious about the benefits of staking your LOOM tokens — please take a look at the economics of staking first.

And if you have any ideas on which mobile wallet we should integrate with next — let me know in the comments below! 😉

Loom Network is the multichain interop platform for scaling high-performance dapps — already live in production, audited, and battle-tested.

Deploy your dapp to Loom’s Basechain once and reach the widest possible user base across all major blockchains today.

Want to stake your LOOM tokens and help secure Basechain? Find out how.

You Can Now Stake Your LOOM Tokens Directly from Your Cobo Wallet 💰 — (+ More Mobile Wallet Integrations on the Way!)

Update: