Frequently Asked Questions

Staking & Validator Nodes - How does it work?

  • Staking (also called Proof of Stake) is built-in inflation that maintains the long-term security of the network.
  • New coins are created to pay Validator Nodes who "vote" secure the coin and process transaction.
  • Validators need technical expertise and you need to be a one of the very largest owners. But you can pool stakes.
  • Staked runs a Validator Node as a Service. You delegate the voting weight of your currency to our node. You earn the block rewards less our fee (tbd, but small).
  • You hold on to your currency-. This doesn't mean it's entirely risk-free. Note the risks below.

Why shouldn't I do this myself?

  • Requires capital investment up-front.
  • Specialty software and hardware expertise is required.
  • Servers hosted in a data center you can physically access.
  • You only get paid if you're part of a small group of validators (top 100, often less).
  • Slashing: If validators double sign, are frequently offline or do not participate in governance their stakes can be destroyed.

How do I register my ERC-20 EOS tokens and create an account?

  • Your ERC-20 tokens will need to be registered by June 1, 2018 in order to claim the future EOS blockchain tokens.
  • Security tip: Use your Active key for all of these instructions- not your Owner key.

How do I vote for Staked as a Block Producer?

  • You will need your EOS Account and the private keys associated with that account. Your account is a human-readable name - for example, ours is 'staked'.
  • Security tip: Use your Active key for all of these instructions- not your Owner key.
  • Command line tool - who built the software - has said they they will release a command line tool that will allow you to vote your tokens. We will provide a link to that software and instructions when it becomes available.
  • Via a website We will also provide.

Does my EOS vote last forever?

  • No! Block producer votes decay, beginning one week after your vote is cast. After one year, your vote only retains half of it's power, making it equivalent to two fresh votes. So plan on voting your stake regularly if you want to retain your influence.

How can I earn revenue by staking my EOS?

  • Unlike most staking networks, the EOS constitution expressly forbids Staked from paying you a portion of the block rewards. Instead, when you stake your EOS, you are entitled to a proportional share in the network's RAM, bandwidth and storage. If you don't intend to use those resources, we will help you sell them and return 100% of the proceeds from the sale. Talk to us for details.