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How To Stake TOMO
There are two options for earning passive income for holders of the token TOMO. The first is to run a Masternode. The second delegation of tokens to a Masternode. The TomoWallet is recommended for ease of use and convenience for staking. Download TomoWallet or crypto wallets supporting TomoChain mainnet. Have at least 100 TOMO to start staking. To protect your private keys, there is no risk. Staking with TomoChain is absolutely safe because your voted tokens will be locked in the smart contract that only you can unvote and withdraw them to your TOMO address.
Tomochaing Ecosystem: Masternodes are full-nodes that create, verify and validate new blocks in TomoChain’s platform.
Masternode Candidate: Any account can deposit 50,000 TOMO using the official on-chain governance dapp to become a Masternode Candidate. A Candidate becomes a Masternode when it belongs to the top 150 most voted Candidates in an epoch.
- As a general rule, you can optimize your staking rewards by voting for Masternodes with lower capacity (having fewer votes) because the reward for every Masternode is constant. If more people vote for the same Masternode, the reward is divided among more people and therefore one vote receives fewer rewards.
- That being said, never forget that if a Masternode Candidate is not among the 150 most voted, it loses its Masternode status and automatically stops earning rewards, which includes rewards for its Voters. If the Masternode falls out of the top 150 and cannot get back in, you will need to unvote and wait for 96 epochs (approx 2 days) to be able to vote again. During this process no rewards will be earned. Though the rewards can be higher, when voting for lower-ranked Masternodes, you need to check more often to ensure they are still in the top 150.
- Voting for higher-ranked nodes will earn fewer rewards but can be safer. You will not need to spend much time checking the Masternode status.
- Even if voting for a poorly performing Masternode could generate more rewards than voting for a well-performing Masternode, the better a Masternode performs, the better is the overall health of the network. Therefore, voters should also consider voting for Masternodes which are fully capable and committed to the overall health of TomoChain’s ecosystem in the long-run.
Masternode reward: Rewards are paid out every epoch (approx. 30 minutes). You can check your Masternode staking rewards using TomoWallet. Alternatively, you can use TomoMaster or TomoScan.
How to vote for TomoChain Masternodes
TOMO Staking Guide/FAQ
Staking Video Guide