Dock is a network that enables developers to build applications for issuing and verifying credentials on blockchain that are standards compliant, scalable, and affordable.
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- How to Stake DOCK?
Select the accounts that you would like as your Stash and Controller accounts, as well as the amount of tokens (stash) you would like to bond.
Enter the amount of Dock tokens that you would like to bond (stake). Select an amount that is less than the total amount of DOCK you have, so you have some leftover to pay transaction fees.
You are now bonded which means your tokens are locked and could be slashed if the validators you stake misbehave. Be careful about the validators you choose since you will be slashed if your validator commits an offense.
Click on “Nominate” on an account you’ve bonded and you will be presented with another popup asking you to select up to 16 validators.
For more information on Dock Validators please review the Staking Rewards Dock Profile.
- How much can I earn Staking DOCK?
The amount of DOCK you can earn staking depends on the Validator Inflation which is a percentage of overall inflation.
For Validator Inflation, we are multiplying inflation by 0.4.
- Any risks to Staking DOCK?
By delegating or staking DOCK there is a risk of slashing.
Slashing will happen if a validator misbehaves (e.g. goes offline, attacks the network, or runs modified software) in the network. They and their nominators will get slashed by losing a percentage of their bonded/staked DOCK.
Validator pools with larger total stake backing them will get slashed more harshly than less popular ones, so we encourage nominators to shift their nominations to less popular validators to reduce the possible losses.
- What is the utility of DOCK tokens and how are they used in the network?
There are three main utilities for Dock in the network:
- Governance – token holders can actively participate in submitting proposals, voting, and electing council members
- Network operations – Dock tokens are used to pay for transactions in the network such as creating DIDs, anchoring and revoking credentials, and sending payments
- Staking and validating – Validators are paid emission rewards for validating, and those rewards are shared with nominators who support them.
- What is the maximum supply of DOCK tokens?
1 billion DOCK.
- How many validators can participate in the Proof of Stake network at any time?
50 Validators can actively participate.
- In which blockchain ecosystem is Dock built?
Dock is built with the Substate framework and is part of the Polkadot ecosystem.