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Learn about Akash Staking
Akash looks to be the world’s first open-source decentralized cloud, challenging the likes of the Amazon’s AWS and Microsofts Azure. Akash challenges these cloud giants through the use of containerization technology and an open-source Docker Engine. Akash provides a way for data centers to provide their underutilized capacity to the Akash Network, reducing costs while providing extra income to those data centers.
$AKT performs 3 main functions within the Akask Network:
- It is a governance token which through staking/delegating allows vested network participants to vote on platform changes and upgrades
- It functions as a form of monetary expansion mechanism, rewarding long term stakers and delegators through an attractive staking rate
- Most importantly the $AKT token is the medium of exchange for the Akash Network. Allowing its deployers, users and providers to transfer value and information.
Akash’s vision is to not be seen and empower open-source developers to be able to deploy their applications in a decentralized and permissionless manner. By reducing costs, Akash reduces the barrier to entry, moving us towards a future where Web3 is truly decentralized.
The Akash Network has implemented the Cosmos SDK staking module, staking happens exactly as on Cosmos chain with ATOM.
You can stake Akash using both Cosmostation and Keplr on the Akash Page
For the average user, the best way to stake AKTs is by delegating to one of the Validators of the Network.
You can delegate/bond your AKT in a single click within Ledger Wallet.
If you want to reinvest your rewards, you have to manually claim them and delegate them again.
Please consider that withdrawing your funds from staking will take 21 days.
You can calculate your earnings in the AKT Staking Rewards Calculator.
With the proposed block time of 6s, the initial inflation is 50%. The effective inflation depends on the actual current block time.
The proposed inflation will rise by up to 13% p.a. to 25% until we reached a Total Staked of 66.66%.
Once the Total Staked is over 66.66% the inflation will slowly decrease back until 50%.
Effectively the staking yield always depends on the total staked, proposed inflation, block time, and transaction fees, which are live tracked on this site.
Anything between once every day to a week guarantees that you get the highest rate of compounded rewards.
Inflation is one of the coefficients that affect your rewards. The other one is the bonded tokens ratio i.e. the amount of tokens bonded/staked.
For example if the total supply is 100 million tokens and the inflation is 50%, 50 million tokens are generated by default annually.
However, this amount is only shared by the tokens that are locked in staking. So your rewards would be 50% only if all tokens were staked. Since 90% of the tokens are staked 50 million tokens will be distributed to 90 million tokens staked! As such the APY will be higher than 50%.
Yes even by delegating AKT, the coins are at risk of slashing.
- Take note of the 21 day lockup period
If the Validator misses blocks or tries to corrupt the network, the delegator holdings might get slashed.
Therefore it is very crucial to choose a professional and trusted Validator. We have verified many reliable AKT Staking Providers with the blue checkmark on our website.