SKALE is a fully decentralized Ethereum compatible Layer 2 PoS network. The market cap is $75,531,481 and the 24h volume is $23,273,078.
SKALE blockchain consensus is achieved via Asynchronous BFT. Investors can leverage their crypto via staking. Currently there are 2 options to earn passive income and staking rewards with your SKALE investment as outlined below.
Run a Validator
- Do I need to create an Activate account in order to stake SKL tokens?
It is not required for users to create an Activate user account in order to stake their SKL tokens.
Once you arrive on the Activate site, you will see a card on the right hand side that prompts you to “Start Staking SKL.” After clicking the button you will be directed to the staking dashboard where you can see the different validators supported in the Activate marketplace.
- How do I delegate SKL tokens on the Activate platform?
SKL Staking amount should be greater than 1 and within your available balance.
Token holders can delegate their tokens to approved validators using the interface on the Activate platform. The list of validators is available on Activate as well as on the Staking Rewards website.
Form more details please view our SKALE Staking Tutorial.
- Can I delegate directly from my wallet ?
Yes, you are able to delegate directly from your wallet (i.e. Metamask) and do not need to send your tokens to a smart contract as might be the case in other Proof of Stake networks.
- Are there any lockup requirements for staking SKL Tokens?
Yes, the current lockup periods are defined as 2 months.Users can select what staking periods they want to commit to. Additional options for longer term lock up periods will be added later.
- What are the SKL staking reward timelines?
Now, once stake request submitted
Staking Request Submitted
Your staking request will be approved or rejected by the selected validator.
1st of the month
Once the validator approves your request, your tokens will be locked and you start earning rewards based on the validator’s uptime beginning on the first of the month at 12 am UTC.
End of the month
First Rewards Available
At the end of each month, you can withdraw earned rewards, if any.
- Can I undelegate in the middle of the delegation period?
You can elect to undelegate your SKL tokens at any time but the undelegation will not take effect until after the delegation period is over and the tokens are unlocked. Once undelegated, the current epoch must be completed before the delegation lock ends and tokens become transferable. By way of example, if tokens are delegated in time for the Oct 1 epoch (or the first day of any delegation period), the token holder can send an undelegation request at any time prior to the end of the delegation period. Upon completion of the Proof of Use period (or any delegation period), the tokens will be unlocked and undelegated.
- Will tokens be re-delegated automatically for the next period?
Yes, unless the token holder submits an undelegation request. By default, delegated tokens are re-delegated at the end of the delegation period, unless an undelegation request is received prior to the end of the delegation period. Token holders will receive delegation rewards up to the time tokens are no longer delegated.