A guide into Polis staking inside the Olympus Network.
Polis allows Polis holders to either host a validator or delegate staking coins to a validator in order to generate Polis rewards on the holding of their assets, as a reward for contributing getting
If you do not want to mess with the complexities of running your own Olympus node, then staking is the best solution for you.
Some considerations for staking:
- Stake any amount above 1000 POLIS
- Staking begins at the beginning of every epoch (120,960 blocks, ~a week). So if you want to stake or withdraw your staked funds, you may need to wait until the current epoch is over.
- Your rewards are proportional to your participation on the validator pool that you decide to support.
- If your validator is poorly spec'd or the owner fails to maintain it properly, your rewards may be reduced, for example if the server hosting the validator has some downtime. DYOR, usually validators are well known members of the community.
Validators create 10% of the staked supply every year and from the weekly rewards they split the generated rewards to delegators (stakers) proportional to their participation in the pool for a given validator. With one catch, validators are guaranteed to receive 50% of the rewards.
This means that if the total amount of delegated coins to a validator exceeds the locked amount by the validator, rewards stop being proportional and will be calculated proportional to the 50% that's meant for delegators.