Ontology is a new High-Performance Public Chain Infrastructure & A Distributed Trust Collaboration Platform.
- How do I stake Ontology?
To get started, you’ll need an Ontology staking wallet.
If you only use ONT, ONG, and other Ontology-based assets, Ontology’s official desktop wallet, OWallet works well. If you prefer a mobile wallet, Ontology has a mobile wallet called ONTO.
Ontology uses the VBFT consensus mechanism to secure its network. At any given time, there will be 15 nodes who have been voted in by the community to participate in consensus every block. Users vote for nodes by staking ONT tokens in multiples of 1 ONT per stake (previously 500 ONT). Users are free to stake ONT in any node, change their stake, or withdraw their stake back.
Staking is managed in terms of rounds, which are comprised of 60,000 blocks each (previously 120,000). Each block can range from 1 second to 30 seconds, which means each round can range from 16 hours to 20 days.
For a detailed Guide on Staking please visit this Tutorial.
- Are there any lockup requirements for staking ONT?
Yes, when staking ONT you must consider that your ONT will be locked up for a minimum of one Round. If you un-stake in the middle of a Round your ONT will be available to withdraw after that Round is finished.
- How much can I earn Staking ONT?
For Staking ONT the current estimated annual reward is around 4.73%.
For running a consensus node it is 5.25% annually.
For running a candidate node it is around 25.89% annually.
Please visit the Staking Rewards Calculator to see how much you can earn staking ONT.
- What are the types of Rewards I get for Staking ONT?
There are three types of rewards you can get through staking:
Regular ONG generation. The unreleased ONG rewards are now only shared amongst stakers, instead of both stakers and non-stakers.
ONG network fees. Earn a share of all fee payments, including network transactions, storage fees, smart contract fees, etc.
ONG Ontology Foundation Bonus. Based on the total effective ONT amounts, the ONG bonus will be shared evenly amongst each staked ONT. The bonus will be distributed to the top 49 nodes, and nodes will share the bonuses with their stakers according to the ratio they set.10 million ONG is distributed annually for three years to the top 49 nodes.
Note: the 7 nodes that Ontology has put initial stake and user stake in currently distribute the Foundation bonus. The other node owners in the top 49 nodes can choose to distribute this bonus at their discretion.
- What is the difference between Candidate Nodes and Consensus Nodes?
Both Consensus Nodes and Candidate Nodes help secure the Ontology Network.
Consensus Nodes represent the top 15 Nodes in the Network with a current required minimum of 3,010,000 ONT. These nodes are eligible for all three types of ONG rewards.
Candidate Nodes are the remaining nodes in the network, candidate nodes 16 – 49 are also eligible for the ONG Ontology Foundation Bonus.