ICON is a decentralized network that allows different blockchains to transact with one another. The market cap is $224,844,233 and the 24h volume is $34,224,529.
ICON blockchain consensus is achieved via Loop Fault Tolerance. Investors can leverage their crypto via creating blocks or voting. Currently there are 3 options to earn passive income and staking rewards with your ICON investment as outlined below.
Run a Sub P-Rep Node
Run a Main P-Rep Node
- How to stake ICON (ICX)?
Every ICON holder can stake his ICX tokens with a single click inside the official wallet.
Stakers receive 3 votes for each token. They can be used to vote for certain Representative Nodes, dApps and Ecosystem Expansion Programs. For each vote they receive 2 – 12% annual rewards. For all 3 votes this will result in a total reward between 6 – 36%
- Which network metrics do the staker rewards depend on?
The reward depends on the Total Staked %. If 70% of the network tokens are participating in staking, the reward gets capped at 6% for stakers.
In future the reward will depend on the number of votes for the 3 categories (Nodes, dApps, EEP). If one category is underserved it is more lucrative to vote for it.
- How to run an ICON Public Representative Node?
Validators operate Representative Nodes (I-Reps) and the 22 Validators with the most votes get the rights to validate transactions and create new blocks. They are considered Main P-Reps. Another 78 Validators are considered Sub P-Reps. They still receive rewards based on their number of votes, but do create new blocks.
Running an I-Rep Node requires a professional hardware setup and you need to have sufficient funds or votes to be in the Top 100.
- Which network metrics do the P-Rep rewards depend on?
Main P-Reps receive Block Validation Rewards, which account for 50% of the I-Rep for each node per month.
Additionally all 100 Validator Nodes (Main and Sub P-Rep) share rewards depending on the number of votes received, whereas 1% of all votes accounts for 50% of the I-Rep for each node per month.
The Block Time (if faster or slower than 2 seconds) may increase or decrease the rewards.
The Node Efficiency may decrease the rewards if certain blocks are missed to create.
- Is there a risk to stake ICON?
Staking ICON is considered safe as long you protect your private keys. There is no risk of slashing.