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What is Zilliqa? What are its origins?
Zilliqa is a high-throughput public blockchain platform designed to scale to thousands of transactions per second. It is built to deliver performance, scalability, and security.
Zilliqa aims to drive the blockchain industry forward by developing the highest quality technology infrastructure which can create measurable and real-world impact. To that end, we have sought to establish partnerships across industry verticals that have emerged as clear beneficiaries to innovative, decentralised technologies, with participation across digital advertising, financial services, payments, gaming, as well as digital entertainment. With our platform, we hope users and businesses can leverage the full potential of decentralised technology.
What is Staking?
Staking is a technique that will push our network's decentralisation to a new level while bringing more benefits to our wider community. Staking will open up access to manage Zilliqa seed nodes to our ecosystem of miners, token holders, and developers and will create more utility for $ZIL.
Why stake your $ZIL?
The utility of the Zilliqa token is of the utmost importance to us. Through strategic partnerships with exchanges and wallets, we want to ensure our token holders enjoy various options to enjoy annual returns of 6% or more with non-custodial staking returns on their investments as they hodl them.
Stake to fuel the circular economy of Zilliqa
You have an incentive to stake and #HODL over the long term as the ecosystem gains in value. Rewards are offered to $ZIL HODLers for delegating their tokens and stake. As more people stake & reinvest in our ecosystem and more projects join, our Open Finance (OpFi) infrastructure will be powered up using $ZIL as the medium of exchange and liquidity incentive. Consequently, by increase usage of the platform an increasing amount of transaction fees (in $ZIL) will be "burned", allowing for a sustainable circular economy.
Staked Seed Node Operators
- Zillacracy exists to engage and nurture the talents found within the Zilliqa community and to drive Zilliqa forward. As an SSN operator, Zillacracy provides a service to the Zilliqa network and is subsequently able to reinvest the staking commissions it receives back into the Zilliqa community.
- Moonlet is the go-to De-Fi digital asset wallet that enables users to securely store their crypto assets, spend their tokens, and manage their returns from staking.
- Atomic Wallet is a decentralized non custodial app to manage, exchange and stake over 300 blockchains and tokens. We have over 500.000 users across various devices and support entire blockchain ecosystem since 2017.
- Staked operates highly available and highly secure, institutional grade staking infrastructure for leading proof-of-stake (PoS) protocols.
- Zillet is an open-source, client-side, tool for interacting with the Zilliqa blockchain
- ViewBlock is a fully-featured, chain-agnostic block explorer that allows users to have a deep look into the Zilliqa network. Users can search for transactions, addresses, smart contracts, and other activities on the blockchain.
- Shardpool. High performance Zilliqa Mining Pool that has been around since block #1. Shardpool provides a safe and easy way to allow all miners to earn Zilliqa.
- CEX.IO is a UK-based multi-functional cryptocurrency exchange established in 2013. With more than 3 million users across the globe, CEX.IO provides reliable services backed by cold cryptocurrency storage, financial viability, high security, as well as best practices in KYC and AMLs.
- Ezil. Staking node operated by #1 Zilliqa Mining Pool ezil.me. Stable, simple, profitable.
- Zilliqa is a high-speed, highly secure blockchain that is designed for next-gen enterprises and DeFi applications.
How to stake ZILs on Zillet?
Step 1. Select the staking tab. You'll see the stake option there. Just click on it.
Step 2. Enter the amount you want to stake and click on the stake button.
Step 1.5. (Optional) You can also choose the SSN node you want to delegte to
Wait for transaction to got confirmed
What are the benefits of staking?
When you stake your ZILs, your receive ZIL and gZIL (Governance ZIL) as a reward, this means you are allowed to vote on governance proposals on the Zilliqa ecosystem. But the best part is that you receive ZIL over time. This interest, reward, or inflation heavily incentivizes staking and is why you should delegate over long periods.
Who should you delegate your ZILs to?
There is no best choice. Every SSN has its characteristics. However, most people want to pick the safest and most secure SSN so they don’t lose any rewards. However, it is a general misunderstanding that there is a single best SSN to delegate safely. The best SSN to safely delegate is all of them. If you spread your ZILs across all SSNs, the risk is the lowest. You can check the table for the commission rate and details about SSN below.
Why should I delegate to Zillet?
Zillet is an open-source project with no revenue source currently, and it's one of the main pieces of the Zilliqa ecosystem. Zillet also has a competitive commission rate, and all the commission earned will be used for the development of the wallet. So it'll help us if you delegate your ZILs to Zillet while maintaining your security.
How can I delegate my staked ZIL to other SSN (ex. Zillet)?
Step 1. Select the staking tab.You'll see the Transfer Stake option there. Just click on it.
Step 2. Choose the delegator from you want to move your ZILs
Step 3. Select the SSN you want to redelegate your amount to (ex. Zillet) in second dropdown
Step 4 Enter the amount you want to move and click on the Transfer button
Wait for transaction to got confirmed
What happen if a ssn you have chosen is down?
Your ZIL will be safe. If the node you have chosen is down, then you will not receive rewards during that time.
What's the waiting period if I want to unstake my ZIL?
Delegating means that your ZIL cannot be transferred for 2 weeks, but you can redelegate to other SSN instantly. Technically, Redelegation takes one cycle to be completed (18 DS blocks). But the user doesn't doesn't have to perform any extra actions. You'll automatically start receiving the reward from the new SSN ( after 18 DS blocks)
Zilliqa is a new blockchain platform that is designed to scale in an open, permission-less distributed network securely. The core feature that makes Zilliqa scalable is sharding dividing the network into several smaller component networks (called shards) capable of processing transactions in parallel.