Elrond is a highly scalable, fast and secure blockchain platform.
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- What is Elrond (EGLD)?
- How was Elrond launched?
- Who is the team behind Elrond?
- How to stake Elrond eGold (EGLD)?
- How much can I earn staking Elrond eGold (EGLD)?
- What are the requirements for staking Elrond eGold (EGLD)?
- How long is Elrond eGold (EGLD) locked up in Staking?
- Is there a risk to stake Elrond eGold (EGLD)?
- What is next for Elrond eGold staking?
Elrond is a technology ecosystem for the new internet. Its smart contracts execution platform is capable of 15,000 TPS, 6s latency and $0.001 tx cost, focused on fintech, DeFi and IoT.
Elrond’s money & DeFi app Maiar offers an intuitive first-time experience with blockchain, offering progressive security and a gamified approach to unlocking more useful features.
The Elrond Proof of Stake economic model has a limited supply; its token is named eGold to convey the notion of digital store of value to the next billion users.
In Q1 2018 Elrond’s core team put forward a technical paper about building a truly scalable blockchain using complete sharding for state, network and transactions, while employing an efficient and secure proof of stake consensus mechanism. After the breakthroughs required to solve some of the hardest problems in the blockchain space were validated by peers, Elrond received private placements from Silicon Valley funds and notable investors such as Binance Labs, NGC, Maven 11, Woodstock Capital, followed by a public funding round via the Binance Launchpad.
Elrond is built by a team of experienced entrepreneurs, engineers and researchers with significant blockchain backgrounds and technical experience at Microsoft, Google, Intel, and NTT DATA. The team includes two PhDs in CS & AI, multiple math, CS, and AI Olympiad champions, and a former member of the NEM core team.
Staking on Elrond can be done either as a Validator (running a node + 2,500 eGold stake) or as a Delegator, with a minimum of 1 eGold per delegation.
Validator rewards are distributed automatically. New Delegator rewards become available each day, with no time limit for when they can be claimed.
You can stake eGold in 3 different ways:
1. Using the Maiar mobile app ( https://getmaiar.com/app)
2. Using the Web wallet ( https://wallet.elrond.com)
3. Using the “Delegation Manager” provided by staking providers
See the tiles above for the most current staking rate.
Elrond has a gradually decreasing inflation schedule for the coming 10 years. In the first year there are 2169025 eGLD distributed between all stakers in the network on a per epoch basis.
The individual staking rate for each validator depends on how many validators they run and how much stake they have (their own + delegated stake) combined.
Each validator is eligible for 2,500 eGLD base balance. And can be topped up with additional balance. APR on the Base Balance is higher, opposed to the APR on the Top Up Balance.
Since there is a maximum of total 3,200 Validators in the network, staking providers can only run a limited set of validators.
At Staking Rewards we have calculated the current individual reward rate per provider in the list above.
Use the Elrond Staking Calculator to estimate your total earnings over time.
You need at least 1 EGLD to stake. You can re-stake rewards, thus compounding the benefit, in smaller amounts.
The Elrond staking process is trustless and transparent. You need to own eGold tokens in a wallet that you control. It is possible to stake multiple times from the same wallet, with each contribution being accounted for individually.
Elrond Staking has a 10 days unbonding period.
Staking on Elrond is a very safe process. Elrond staking is a completely non-custodial process, meaning the user is 100% in control of their EGLD at all times.
The Staking Providers use delegation smart contracts that are always forked from the audited and 100% secure Elrond Staking Smart Contract. Even if a Staking Provider decides to stop its services, the user can withdraw their funds at all times, unaffected.
The Elrond Web Wallet and Maiar Mobile Wallet offer a ☑ Verified badge for providers vetted by the Elrond team. They all offer great customer service and have been acknowledged to operate top infrastructure in a competent manner.
Staking Providers without the ☑ Verified badge are still safe to delegate with, as the delegation is non-custodial, so the delegated EGLD can’t be lost. However, their ability to offer proper customer service or operate the infrastructure at the highest level of professionalism has yet to be validated by the Elrond team.
Some general risks for staking do exist, such as losing control of private keys, which can be mitigated by diligent private key management, such as multiple backups.
The Elrond Network is currently in bootstrapping mode and staking options are gradually enabled. Presently, Elrond is in Staking Phase 3.5 out of 4.
In Staking Phase 4, slashing will be enabled and the remaining Elrond Foundational nodes will be completely decommissioned, creating even more room for third-party providers to offer their services.
Staking Phase 4 is expected to go live Q42021/Q12022