What is staking
This is introduction to Accumulate staking.
Holders of ACME can stake their digital assets to put them to use and generate passive revenue without having to sell them.
Staking can be compared to investing money in a high-yield savings account in the world of cryptocurrencies. The bank takes the money you deposit into a savings account and often loans it to others. You receive a percentage of the interest from lending in exchange for keeping that money in the bank, although a very small portion.
The Deadline to be part of the first Staking Period is 11/24/22 at 11:59 pm UTC
All staked tokens will be hard-locked until May 5th, 2023. Staked tokens will be completely inaccessible (cannot be withdrawn or unstaked) until after this date.
Users have several options for setting up Staking Accounts:
- Pure Staking Accounts allow users to have full governance rights but are not obligated to participate actively in the protocol's operation.
- Protocol Validator Accounts run Accumulate Nodes that validate, order, and execute transactions.
- Protocol Follower Accounts run Accumulate Nodes that hold the entire historical data set for the protocol. At some point in the future, these nodes will become Protocol Data Servers.
- Staking Validator Accounts are responsible for the Staking process.
- Delegated Stakers to delegate most of their voting rights to one of the Full Staking Accounts listed above.
- Full Staking Accounts: 50,000 Acme
- Delegated Staking Accounts: 1000 Acme
Once Acme establishes a market price, the minimums will be adjusted to values specified in USD. This price will be used to regulate the number of validators in the protocol based on the number required and the demand for participation.
Pure staking is staking your tokens solely to stake them (and receive rewards). Pure staking requires a minimum staked balance of 50,000 ACME. Pure staking has no risk of slashing and comes with no obligations but generates lower yields than operator staking.
Registered operators of protocol nodes must maintain a minimum staked balance of 50,000 ACME. Registered operators have obligations and hardware expenditures depending on the type of node they run and may be slashed for downtime, negligence, abuse of their privileges, and other offenses. Registered operators are rewarded at a higher rate than pure stakers.
Delegated staking is delegating your staked tokens to another pure staker or operator. Delegated staking requires a minimum staked balance of 1,000 ACME. The staker you delegate to takes a 10% fee from the rewards generated by your staked tokens. If you delegate to an operator, your tokens generate higher yields than if you delegate to a pure staker. However, your stake is also slashed if you delegate to an operator and the operator is slashed.