Autocompound with Restake
If you haven't been autocompounding your staked bags, let me tell ya, you've been missing out!
I have a lot of staked assets. I mean, I'm not a whale or anything, but I have plenty of different tokens that I have staked and earned APY on. As have a lot of you, I'm sure. I used to go in manually every day, or every week, or every month very great, depending on the APY, and claim the rewards then stake those rewards. Fees were not super intense (this was not ETH, after all!), but I know it was not very cost effective.
But then last year, I discovered the ReStake app.
I had heard about this, and other similar applications for a while, but I had never looked into it. Man, am I glad I finally did! And now I'm here to tell you all about it, if you've never heard of it, or if you've been sitting on the fence as well.
First of all, Restake is for compounding your yields with tokens in the Cosmosis ecosystem. You won't be able to do Solana, Avalanche, or Fantom with Restake. But you will be able to use it for Atom, Osmo, Injective, and the like.
Second, when you choose a validator, you can see how often they autocompound. Some restake once a day, and some twice. Some restake every 15 minutes, and a few even restake every minute! Note that the minimum reward needed to restake can be seen by hovering the mouse over the frequency line. Be aware that your validator will not actually restake every 15 minutes if you are not meeting the minimum reward! Choose wisely to meet a 1, 0.1, or 0.000001 token minimum reward.
Third, and best of all, the restaking fees are paid by the validator! That's right, you do not need to set aside tokens in escrow or worry about topping up every once in a while to meet their demand. No more micro fees nibbling away at your profits!
So how do you use Restake?
It's quite simple. Go to the app's homepage, linked above, and find the token you want to restake. When you click on that token's name, you will see a list of validators. Or, if you are already staking that token, you may see only your own validator. Near the top of the page, there is an option to switch between "My Delegations" and "All Validators." From the latter, you will see a list of validators, their rankings (people always say it's best to stake with someone outside of the top 20), how often they restake (hover here to see the minimum reward needed to restake), APY, and their fee. Clicking the "View" button to the right will show you more stats, including how many blocks they have missed, if they have ever been slashed, etc.
If you are not already staking the token, you can delegate to the validator of your choice right here, after clicking the "View" button. You will need to select the "Stake" tab at the top of the pop up window.
If you are already staking with a validator, and they show up on the list, great! That means they are in the restake system! If they do not show up, and you want to use the restake app, you will need to redelegate to one of the validators on the list. This can be done in several ways - I prefer to go through my Keplr dashboard, and it's a simple process.
Whichever way you have chosen to delegate to a validator, there is still one more step. You will need to click the green "Enable Restake" button at the bottom of the pop up window. This enables an Authz smart contract that is good for one year. This is not set in stone, and you can still redelegate, unstake, etc at any time (with the associated wait time of staking, of course).
And that's it! Check back every once in a while to see how your bags are growing and to do any desired maintenance. Once you are restaking a token, when you click on it's name from the main screen, you will see your validator's name, your delegation, your pending rewards, and some other buttons. At the bottom is an "All Rewards" button. Click on that and you will have the options "Claim rewards" and "Manual compound." The first allows you to pull those rewards straight into your wallet without restaking. The second restakes automatically, without waiting for the minimum reward or validator restake timing. For instance, my Injective bag isn't super huge, and I have a validator with 0.1 token minimum necessary reward. I sometimes get impatient and manually compound when my rewards reach 0.05 INJ.
Keep in mind , for the two options listed above, YOU will pay the network fees, not your validator.
Full disclosure, there have been a couple of times with a couple of tokens where I have noticed that I have pending rewards greater than the stated minimum reward needed to restake. This has been infrequent, and usually it self-corrects after a day or two. Or, I've gotten impatient and just manually compounded.
Otherwise, I have been very pleased with Restake and will continue to use it! Hope you do, too!