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What is staking?
Staking is the process of locking SWTH to support the security and operations of the TradeHub network. You can Stake/Delegate your SWTH tokens on 1 or more Validators.
Validators run a full node and participate in consensus by broadcasting votes and committing new blocks to the chain.
What is Bonded/Unbonding?
Bonded refers to the state which your SWTH are staked and earning rewards.
Unbonding refers to the state where your SWTH are unstaked but are not yet tradeable/transferable due to an earlier unstaking action. The unbonding period for SWTH is 30 days. During those 30 days you will not earn any rewards.
There is no unbonding period when you redelegate/restake your SWTH tokens to a different validator.
What are the rewards for staking?
Staking rewards consist of:
- “Block Rewards”, which are SWTH tokens generated by the network with each block
- “Fee Rewards”, which are the fees that traders pay for using the network.
These are distributed in proportion to the amount of SWTH staked.
How much are the rewards for staking?
During the first 4 years of Switcheo TradeHub operation, the number of tokens issued as block rewards will start with an initial weekly emission rate of 1.92% in Week 1 and then decay by 1.65% week-on-week. Tokens will be issued at a constant rate in Year 5. After Year 5, no more new tokens will be issued.
Is there a minimum staking amount?
No, there is no minimum amount.
Is there a minimum staking period?
Note: there is a 30 day unbonding period for unstaking. During this time rewards are not accumulated.
What are the risks of staking?
Validators have no control over your staked SWTH tokens and your SWTH tokens always remain in your possession/TradeHub wallet.
However, your staked tokens can be slashed in the event your delegated validator commits a penalty.
This guide assumes you have already signed up for a Switcheo Tradehub account. Follow the guide here if you have not.
Following is your step-by-step demonstration of staking SWTH starting from the “Staking Homepage”.
- Browse to https://stake.switcheo.org and click on “Start Staking” at the top left section of the staking homepage. Once you click on “Start Staking”, the page will move down to the “Validator Pools” section. Here, you will see a list of validator pools you can choose from to delegate your Switcheo tokens.
- Click on the “Stake” button on the right for the validator of your choosing. We use Everstake in the following example. You will now see a pop-up on your screen which says “Stake with validator of your choice”. This window also displays the estimated return % on your stake and the Validator Fee (The commission retained by the validator for generating blocks) .
- Input the number of SWTH you wish to stake and click “Confirm”. You have now successfully staked your SWTH on our platform!
- The details of your confirmed stake will be displayed on the “My Staked SWTH” page for reference.
Check Your Rewards
To check your total rewards, simply click on the “My Rewards” tab on the mid-right section of the “My Staked SWTH” page.
Finally, on the “My Rewards” page, you will see your list of tokens and the amount of staking rewards you have earned.
Switcheo is a Decentralized Exchange (DEX) built on the NEO platform. It allows for the trustless exchange of NEP-5 tokens and may expand to other cross-chain tokens in the future.