Help secure the IoTeX Network, earn rewards, and vote for the future of the chain.
Total IOTX Staked
What is staking?
A core part of decentralized governance in the IoTeX Network is staking, where token-holders deposit (“stake”) IOTX to generate voting power, which they can use to participate in network governance. IoTeX utilizes Roll-DPoS consensus, where 24 of the top 36 community-voted Delegates are randomly selected to manage consensus on behalf of the entire network and mine blocks every hour.
By staking, token holders enhance the security and efficiency of the IoTeX Network.
With IoTeX, the staking interest rate is up to 6-11% APR.
Any token-holder that stakes IOTX can vote for one or more Delegates they trust to mine blocks.
What is staking?
The IoTeX blockchain uses Roll-DPoS consensus (Randomized Delegated Proof-of-Stake). IoTeX designed this mechanism to support the high scalability required for IoT use cases. Roll-DPoS inherits all the advantages of the original DPoS consensus framework and further improves its capabilities. Unlike traditional DPoS that utilizes a fixed number of Delegates, Roll-DPoS randomly selects 24 of the top 36 community-voted Delegates to mine every hour, which greatly improves the decentralization and security of the IoTeX Network without sacrificing performance.
Anyone can stake their IOTX and vote for one or more Delegates.
Read our Roll-DPos Consensus Yellow Paper or watch this video to learn more.
Why should I stake?
We encourage all IOTX holders to stake/vote for the following reasons:
Staking IOTX makes you change from a holder to a contributor. You can help to facilitate network operations, consensus, governance and also enhance the security and efficiency of the IoTeX Network by staking.
By staking, you can receive votes (1 IOTX = 1 vote) and earn IOTX rewards in return. With IoTeX, the staking interest rate is up to ~11% APY.
Staking your IOTX to a delegate results in depositing them into the blockchain itself, under no circumstances will your IOTX be transferred to the Delegate. You will maintain exclusive control over your deposit at all times.
How do I start staking?
When you decide to stake your IOTX, you need to choose your preferred type of staking(Native Staking/Staking as NFT) to start first. Then complete the staking after making a decision on the following factors:
There are 70+ Delegates that each contribute differently to IoTeX and pay different amounts of rewards to voters. You can switch your vote to another Delegate at any time.
This determines the number of IOTX you wish to stake/vote. You can add IOTX to an existing bucket after your initial vote (must have the stake lock ON).
This is the amount of time you wish to stake your IOTX (1-1050 days for Native Staking/91 days for Staking as NFT). The longer you stake, the more bonus votes/rewards you get. Your stake duration is essentially a timer countdown to when you will be able to unstake your IOTX. When the duration hits 0, you can then choose to unstake your deposit.
When you turn stake-lock ON, you pause your lock duration countdown until you decide to turn it OFF and the countdown resumes. The benefit of stake-lock is that you earn more bonus votes/rewards while it is on. After you turn the stake-lock OFF, your stake duration will resume counting down to 0.Remember, if you turn stake-lock back ON at any point during your countdown, your stake duration will restart to the original duration for which you set it. (i.e. If on day 50 of your 100 day stake duration, you choose to turn stake-lock ON. When you turn it OFF, you must now wait 100 days to unstake).Note: Once the stake duration has expired, the unstaking process takes an additional 3 days. After this, you may withdraw your coins to your wallet.
Any advice for selecting a Delegate?
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How Hermes works?
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