Starname IOV is creating a human-readable and cross-chain blockchain address.
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0%or 0% annualized
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- How to stake IOV?
The IOV token is implementing the Cosmos SDK staking module, staking happens exactly as on Cosmos chain with ATOM.
To stake IOV, you Delegate your IOV to a Validator for a minimum Bonding period (3 days), and you earn the inflation rate proportionally to your amount at stake.
For the average user, the best way to stake IOVs is by delegating to one of the Validators of the Network.
You can delegate/bond your IOV in a single click within Ledger or Cosmostation Wallet.
If you want to reinvest your rewards, you have to manually claim them and delegate them again.
Please consider that withdrawing your funds from staking will take 3 days.
- How much can i make staking IOV?
Rewards for stakers are being derived from Starname sales in the network. All proceeds are being redistributed to stakers.
The more starnames are being sold, the higher are the rewards for stakers.
There is no inflation rate at this point.
Every service fee paid for registering or managing a starname is redistributed in the reward pool and increasing the staking reward. From that side, the more names are bought, the more rewards are distributed. If you are interested in being a Name distributor, you can earn extra commission on every name transaction as well.
You can calculate your earnings in the IOV Staking Rewards Calculator or refer to this article https://medium.com/iov-internet-of-values/what-apy-will-the-starname-iov-blockchain-have-when-inflation-is-0-5d623c6f0a27
- Is there any risk staking IOV?
Yes even by delegating IOV, the coins are at risk of slashing.
If the Validator misses blocks or tries to corrupt the network, the delegator holdings might get slashed.
Therefore it is very crucial to choose a professional and trusted Staking Provider.