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About Staking ERD
Elrond is a proof-of-stake based blockchain platform where a set of validators are incentivized to secure the network by locking an ERD stake, running a node, processing transactions, producing blocks and reaching consensus. Validators are rewarded for their contribution or penalized for malicious behaviour in the network.
Pre-staking is the first phase in the Elrond bootstrapping process. Thus it is an important preparatory phase in which all ERD holders are incentivized to support the Elrond network and mainnet launch, by locking their ERD into a smart contract, contributing to reach the necessary economic security threshold, and earning rewards without being required to run a validator node.
How To Stake ERD
- Buy ERD tokens. This can be done, for example, on the Binance exchange. Token holders will be able to withdraw funds from ERD Binance as ERC20 to their Ethereum wallet;
- Deposit ERC20 ERD tokens in a wallet that you can use with MetaMask
- Go to https://stake.elrond.com/ and click Pre-Stake
- Initiate the Staking Transaction via Metamask
How much rewards can I earn if I stake?
You can earn up to 8% of your staked award after 90 days, for an annualized staking ratio of 32%. Please use our staking calculator to determine the exact rewards, based on your desired amount & time of staking.
What amounts of ERD can be staked?
There is no minimum limit to the amount of ERD to be staked. The maximum limit per transaction is set at 500.000.000 ERD per tranche, or whatever is available in that respective tranche. You can use multiple transactions to stake your desired total ERD amount. Remember to use a unique address each time because you can stake only once using the same wallet address!
What are the minimum & maximum pre-staking periods?
ERD deposits will be locked for the first 30 days since the pre-staking period starts. After that, withdrawals are possible, with a 7 day unbonding delay, during which rewards are not accrued. There is no maximum period of pre-staking but we expect this phase to not exceed 90 days from the start of the pre-staking process.
When and how can I withdraw my stake from the Smart Contract?
Withdrawals are only possible 30 days after the start of the pre-staking process. There will be a 7 day waiting period for withdrawals, during which no rewards are accrued. Only withdrawals of the full amount you have staked are possible.
Tutorials & FAQs:
Elrond is a high-throughput public blockchain focused on providing security efficiency scalability and interoperability by employing two key elements:Adaptive State Sharding and a new Secure Proof of Stake consensus mechanism.