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What is OmniFlix Network Staking?

OmniFlix Network staking involves using the FLIX token for various activities that secure the network and enable governance participation. Users can delegate their FLIX tokens to validators to secure the OmniFlix Hub, re-delegate their staked tokens to different validators, and un-delegate them when needed. Additionally, staked FLIX tokens allow users to vote on on-chain proposals, influencing the network's community decisions. This system ensures network security and active community involvement in governance.

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Learn about OmniFlix Network Staking

How to stake FLIX?

To earn a yield on your FLIX, you can either run your own validator or delegate your tokens to the existing one.

We recommend using a Ledger Hardware Wallet to keep full control over your funds. To delegate your tokens, you should ensure you have your FLIX on your Keplr wallet and follow the steps below:

Step 1: Visit the Quasar Staking Dashboard on Keplr.

Step 2: Select a Verified Staking Provider (VSP) from the validator list. 

Step 3: Click on the Keplr staking button on the right-hand side.

Step 4: Input your desired token amount and click ‘Stake’.

Step 5: Finalize and confirm the transaction in your wallet.


How to choose OmniFlix Network validators?

It is essential for users to stake their PoS tokens with dependable and highly performant validators, which is why we have rolled out our Staking Rewards Verified Staking Provider (VSP) Program in June 2022. Through this program, we thoroughly scrutinize potential validators, evaluating factors such as security measures, their on-chain reliability, their provider setup, and value-added services for the whole ecosystem.

There are many metrics to consider when selecting a validator to delegate to:

Commission Rates: The commission rate a validator charges is the % of your reward that the validator keeps for themselves. A high commission rate means your rewards will be lower, whilst a low commission rate could mean that the validator is not profitable and could cause issues for them in the future. Keep in mind that validators can adjust their commission rates up or down over time. 

Number of Users: A high number of delegators could indicate positive sentiment towards a validator. 

Validators Self-Staked Balance: A provider with a high amount of staked tokens likely has more incentive to continue operating their services as they have more to lose than those with low self-staked balances. This metric has some limitations as Validators can choose to delegate to their own validator from another wallet, which is done to increase the security of their funds. 

Current Status: To check if a validator is currently active, go to the Stride Validator Dashboard on Mintscan. The default view on this page is for “Active” validators, but you can also filter to view inactive validators in the top right corner of the page. Keep in mind that only the top 100 validators on Stride, ranked by balance, receive rewards.

Network Share: You typically don’t want to choose a validator with the highest or a low network share. Delegating to the most popular validators increases centralization risks within the network as those validators will have more say in governance and produce a larger share of the blocks. A validator with a low network share might not be profitable, increasing the risk of discontinuing their services. If a validator drops out of the eligible set, they also stop earning rewards. However, if you are willing to put more time in, then delegating to a smaller validator helps support the decentralization of the network. You would just have to make sure to check regularly if the provider is still active and operating. 

Performance: Make sure you pick a validator with the highest possible performance. Further, please check individual validators’ uptime, and our recommendation is only to pick those with a >=99% uptime and a long history of not getting slashed.


What are the risks to staking FLIX?

We strive to make staking as safe and transparent as possible, however, it's important to consider factors that may influence whether a particular staking option is appropriate for you.

Unbonding Risk: When staking FLIX tokens, there is a lockup period of 21 days. This means that investors will not be able to sell their tokens immediately, but instead need to wait 21 days after initiating unbonding before they can be traded again. This is something to keep in mind when deciding to stake, as crypto markets are highly volatile. Consider keeping funds liquid if you do not intend to hold FLIX long-term. 

Dropping out of the Active Set: A validator could drop out of the top eligible validator set, meaning they no longer earn any rewards. Ensure you check back frequently to ensure your validator is active, not jailed, and has not unreasonably raised their commission fees. 

Security Risks: There is an inherent risk that the protocol could contain unknown bugs, this risk applies not only to staking but also to the investment in FLIX.


Please note that this is not an exhaustive list of all the risks related to staking.


How are FLIX rewards generated?

Inflation rewards are distributed to the Community Pool, covering various stakeholders with security, adoption, technical, and infrastructure budgets.

Protocol Fees: Delegators of FLIX earn a portion of the in-protocol fees, with the current marketplace commission of 1% per transaction split equally between them and the Community Pool. Fees are earned from activities involving collections and NFTs, such as minting, managing, and utilizing them for various purposes. This includes fees from marketplace transactions (fixed price or auctions), NFT pools, purchasing NFTs from pools, and licensing NFTs from pools.

Inflation: Validators and delegators share inflationary block rewards for validating transactions and securing the network.


What is FLIX token?

FLIX is the native token that powers and secures the OmniFlix Hub

FLIX Token Utilities:

Delegation for Security & Governance: FLIX token holders govern the OmniFlix Hub and other secured chains by staking tokens, which represent voting power. Delegators receive a portion of the in-protocol fees, with marketplace commissions currently split between delegators and the Community Pool. This mechanism will extend to other transaction types in the future.

Fees: FLIX is used as gas and transaction fees on the OmniFlix Hub. Future plans may allow validators to accept other tokens, which would be swapped to FLIX. Transaction fees support various stakeholders, including FLIX delegators and the Community Pool. FLIX holders receive discounts on transactions, while non-native tokens incur premiums.

Media Infrastructure Marketplace: FLIX will pay for infrastructure services such as storage, encoding, and delivery maintained by Media Node Hosts. This supports events and publishers within the OmniFlix ecosystem, enabling creators to utilize the network without relying on external services.

Interchain Security: FLIX supports ecosystems using the OmniFlix Hub by increasing economic activity and securing the network. This applies to teams utilizing modules like a marketplace, NFT (oNFT), or streampay, enhancing the use and security of FLIX across various applications.


What is FLIX tokenomics?

Inflation is distributed to align incentives toward the stakeholders that participate in the growth of the network.

Below is the breakdown of the tokens that are minted as a result of in-protocol inflation which starts at ~33% and tapers to ~11% by year 7.

  • 60% - Security Budget allocated for Stakers/Delegators who delegate their voting power and secure the chain - 60% (or 420M FLIX at the end of 7yrs).
  • 15% - Adoption Budget allocated towards grants for Creators/Collectors/Curators/Publishers/Communities - for increasing transactional and economic activity on the network - 15% (105M FLIX at the end of 7yrs), managed by the subDAO.
  • 15% - Development Budget allocated towards Developer Grants for building the infrastructure to increase adoption - 15% (or 105M FLIX at the end of 7yrs), managed by the subDAO.
  • 5% - Infrastructure Budget allocated towards Node Hosts for nodes without in-protocol incentivization like Relayers & Media Node hosts - 5% (or 35M FLIX at the end of 7yrs).
  • 5% - Community Pool for funding activities at the discretion of the community of delegators - 5% (or 35M FLIX at the end of 7yrs).
OmniFlix Network
OmniFlix NetworkFLIX
OmniFlix Network is a decentralized platform designed to transform the management, distribution, and monetization of media and NFTs. By leveraging a peer-to-peer network and blockchain technology, it provides creators and communities with tools to take full control of their digital assets. The platform includes OmniFlix Studio for content creation...Read more