- 11 days
The ICON project is building one of the largest decentralized networks in the world.
Every ICON holder can stake his ICX tokens with one click in the official wallet.
Stakers receive 3 votes for each token. They can be used to vote for certain Representative Nodes, dApps and Ecosystem Expansion Programs. For each vote they receive 2 – 12% annual rewards. For all 3 votes this will result in a total reward between 6 – 36%
Validators operate Representative Nodes (I-Reps) and the 22 Validators with the most votes get the rights to validate transactions and create new blocks. They are considered Main P-Reps. Another 78 Validators are considered Sub P-Reps. They still receive rewards based on their number of votes, but do create new blocks.
Running an I-Rep Node requires a professional hardware setup and you need to have sufficient funds or votes to be in the Top 100.