What is “staking”?
Staking is the process of storing funds in a cryptocurrency wallet to provide support for all operations in the blockchain. It is needed to ensure network security. The more coins in staking and the less coins on the market, the more difficult it is for an attacker to collect a large stake and gain control over the network. You receive a reward for staking for improving the safety of the network with your coins.
Types of staking in Everscale
The easiest-to-use type of staking:
- First you need to create an Ever Surf wallet. You can use our guide;
- Go to the “Surf Stakes” section;
- Сlick the “Stake” button;
- Enter an amount from 100.5 EVER and sign the transaction;
- Ever Surf will independently select a free DePool from its list and place funds there. The list consists of DePools of the Ever Surf team, as well as those of their partners. The list of DePools for the stake is generated automatically.
How to read the information on the staking page:
- Estimated annual reward — current annual yield in percent;
- Reward fee — validator commission. This is an income fee. For example, 100 EVER earned through staking. With a fee of 8%, the validator takes a fee of 8 EVER. The validator needs to pay for the server and ensure that the node participates in the validation process stably. This is what they take the commission for;
- Lock-up period — the maximum period after which you will receive your funds upon withdrawal;
- Age — how many rounds the DePool did;
- Successful rounds — how many rounds were successful;
- Members — how many users use this type of staking;
- Balance — how much they contributed;
- Reward paid — how much EVER is paid as a reward;
- Assurance — insurance provided by the validator. When the slashing mechanism operates, this insurance burns first of all. The bigger the insurance, the better;
- Min. stake — minimum stake size.
To withdraw funds from staking, you need to click on the name of the DePool, and on the withdraw button. After that, the funds will be returned to the wallet within 54 hours.
This is a type of DePool which, unlike the previous version, is determined by an algorithm instead of manually. The following key figures are used in the calculation:
- Liveness,% is the indicator of the last successful rounds (the more, the better). We look at the last five rounds. If skipped five times in a row, the DePool is removed from the catalog;
- Successful,% is the reward of the last (completed) round relative to the historical maximum (the more, the better);
- Participating,% is validator participation, assurance (the more, the better);
- Popularity,% is the number of participants (stakeholders) in the past round (the more, the better);
- Profitability,% is the DePool commission (the less, the better);
The weight of all metrics is equivalent. They are calculated as relative to the added DePools as a percentage, from 100 to 0%.
- Capacity is the maximum recommended stake at the moment;
- Income is the direct reward to the user at the moment (reward minus the validator commission).
Now the algorithm is the top of 50 DePools and this list will expand.
To stake in the DePool, you just need to click on it, enter the stake amount, then form and scan the QR code, or click “Deposit with Surf” and then sign the transaction.
To withdraw funds from staking, you need to go to the Everstaking DeBot, click “Show my stakes,” select the desired stake and click “Withdraw stake.” The funds will go to your wallet within 54 hours.
The following method of staking is also carried out through the Everstaking DeBot. You need this if you know the address of a particular DePool and want to send the stake to it.
- Select “Choose by myself” from the main menu;
- Next, paste the address;
- Check the information about the DePool and click “Make a stake”;
- Enter the amount and sign the transaction;
- You can get funds from staking in the same way as the previous one through the selection of your stake in the “Show my stakes” tab and the subsequent withdrawal.
The “Top DePools” section of the Everstaking DeBot home menu is an alternative to the Depooler site from the previous method. They both use the same de-pooling algorithm called DePools Bay.
Liquid staking allows you to use your crypto assets even after they are locked. '
Staked EVER (stEVER) is a TIP3.1 token, a kind of obligation of the DePool for the certain amount of EVER that you stake there. Thanks to the launch of stEVER, users will soon be able to stake their tokens, and at the same time use them to vote on EVER DAO, participating in important ecosystem decisions.
Now you can get stEVER (means stake EVER) using EVER Wallet and swap it back (means unstake EVER). You get your reward at the moment of burning stEVER (when you unstake your EVERs).
Boosted Staking is a limited-time program that lets you stake EVER tokens and receive additional APR. Current staking APR provided by the network is around 12 %, while boosted staking can offer up to 26 % annual percentage yield. When you lock tokens for 4 years, you can more than double your stack.
Program objectives: attraction of new users, rising the number of independent validators, popularization of DeBot technology, attraction of investors to the blockchain
Risks of staking in Everscale
At the time of writing, the risks are zero, since the network slashing mechanism is not yet operating. After the slashing mechanism is launched in the Everscale blockchain, you can lose your stake only if your validator makes a deliberate attempt to attack the network. Since in the first place the validator will lose his own money in such an attack, it does not make sense to do so. Nevertheless, be aware that the risk, though it is almost zero, still exists.
If, despite the near-zero risks of losing funds, you still want more security, then divide your stake into three to five or even ten parts and send the funds to different DePools.