Octopus Network is a multi-chain interoperable cryptonetwork for bootstrapping and running Web3.0 application-specific blockchains, aka appchains. Appchains allow developers to customize their applications.
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- How to Stake OCT?
- Log in to Octopus Network Mainnet (opens new window)with your NEAR account.
- Navigate to the Appchains page, select the appchain and click it.
- From the validators list, select the validator you want to delegate, and then click the “Delegate” button. You will see a pop-up window, input the amount of OCT you want to delegate, confirm the transaction, and you’re done – you are now delegating.
- How much can I make Staking OCT?
- Is there any risk to Staking OCT?
Delegators are one type of participant in the staking of Octopus Network. They are responsible for delegating their OCT to the validators who are the second type of participant. By delegating their OCT to the active set of validators, they are able to share in the block rewards that are paid out by appchain.
While the validators are active participants in the network that engage in the block production and finality mechanisms, delegators take a slightly more passive role. Being a delegator does not require running a node of your own, when looking for validators to delegate, a delegator should pay attention to their reputation for delegating a specific validator – as well as the risk that they bear of being slashed if the validator gets slashed.
The delegating steps are as follows:
Note: For delegator, the current minimum amount is 1000 OCT.
Your delegation will become active in the next Era. Eras last 24 hours by default – depending on when you do this, your delegation may become active almost immediately, or you may have to wait almost the entire 24 hours. When your delegation are active, you will start to get rewards allocated to you. In order to claim them (i.e. add them to your account), you must manually claim them.
In LPoS, rewards are calculated based on the bias of block generation and recorded per era (approximately 24 hours). If the bias of block generation of a validator reaches the expected 70% in an era, there will be the full reward of this era.
Assuming a block is generated every 6 seconds, there will be 14,400 blocks in a day. If there are 100 validators, then one validator is expected to generate 144 blocks. As long as the number of blocks it generates in this era is higher than 144 * 70%, it will get the full reward, otherwise, there will be no reward.
Also, rewards are distributed based on the staking amount of the validator node, which means that the higher the stake amount, the higher the reward the validator node will receive when they’re 100% available when forming the consensus. For the staking reward of the validator node, the validator gets 20% as a commission fee, and then the remaining staking rewards are distributed between the validator and the delegator in proportion to the staking amount.
We assume that: a validator node, the validator stake 10,000 OCT, the delegator A, B, and C respectively stake 3,000 OCT, 5,000 OCT, and 2,000 OCT, and the staking reward of the validator node is 100 XYZ, then the reward distribution is shown in the following table:
|Staked (OCT)||Rewards (XYZ)|
Warning: If the validator gets slashed, the delegators of this validator would also get slashed.