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Learn about IRISnet Staking
How to stake IRISnet?
For the average user the best way to stake IRIS is by delegating / bonding to one of the Validators of the Network.
It can be done using the Rainbow Wallet or Command Line Interface (CLI).
How much can I earn staking IRIS?
IRISnet has a proposed inflation of 4% in the first year and that gradually decreases over time. The emitted inflation is being distributed proportionally between all stakers.
Low Staking Participation = High Rewards. Make sure to play with the IRISnet Staking Calculator and explore those dynamics.
Which IRISnet validator should I delegate to?
When choosing a validator to delegate your IRIS tokens, make sure to look at the commission rate which has a direct impact on your rewards being paid out. Low Commission = High Rewards.
However please note that commission rates are the bread and butter for many validators. They rely on it to maintain reliable operations.
Furthermore, it is important to make sure that the selected validator is able to maintain a solid close to 100% uptime for their services.
You may want to consider delegating to smaller validators in order to further decentralize the network. This does not only support the network resilience, but also the value of your IRIS investment long-term.
Also consider validators that are long-term committed to providing value to IRISnet by supporting the platforms app development, tooling, and educational materials.
At Staking Rewards we have pre-vetted a bunch of validators in IRISnet. Browse through the list above and search for the verified badge. These validators are registered with Staking Rewards and are considered reliable. Please note that any validator is free to get in touch with us to get verified. We are not affiliated with any of them and thrive to provide an independent ranking.
Is there a risk to stake IRISnet?
Yes even by delegating IRIS, the coins are at risk of slashing. 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 Staking Provider.
In IRIS, both the validator’s self-bond and the token holder’s bond are at risk of slashing.
There are three ways in which a validator can get slashed:
- If a validator is offline and does not sign for about 27.78 hours. The total bond will be slashed by 0.5% and the validator will be removed from the set for 2 days.
- If a validator double-signs. The total bond will be slashed by 1% and the validator will be removed from the set for 5 days
- If a validator intentionally includes an illegal transaction in the block. The total bond will be slashed by 2%
Those conditions are hard-coded and do not vary with network usage.
What is IRISnet?
IRISnet is built upon a Cosmos-SDK and functions as a ground layer network of decentralized business applications.
It’s based on Tendermint Bond-Proof-of-Stake (BPoS) Consensus.
How was IRISnet launched?
25% of the total token supply of 2bil. have been sold in a private sale in March 2018.
15% were assigned to the Bianjie Development Team (4-year vesting period).
10% were assigned to the Tendermint Development Team (2-year vesting period).
15% were assigned to the IRIS Foundation.
30% are kept as a reserve to support the Ecosystem Development.
5% will be airdropped to Cosmos ATOM holders.
Who is the team behind IRISnet?
IRISnet is founded by Haifeng Xi and Heng Harriet Cao.
They are leading the IRIS foundation and the Bianjie Blockchain Development Studio.
From the Staking Rewards Journal