How to participate in the Staking of AIVERSE network?
“AIVERSE Academy” is our introductory article on AIVERSE from zero to one, where we try to provide a comprehensive understanding of AIVERSE, starting from the most basic parts of AIVERSE.
Today is the phase 3 of this column, last phase we introduced the consensus mechanism of AIVERSE, today let’s introduce you how to participate in the Staking of AIVERSE network?
How does the AIVerse proof of stake work?
To resist sybil attacks, a decentralized network must require that influence over the network is paid for with a scarce resource so that it is prohibitively expensive for an attacker to gain enough influence over the network to compromise its security. In proof-of-work systems, the scarce resource is computing power.
On AIVERSE, the scarce resource is the native token AIV. Since the node needs to validate the network on AIVERSE, it must stake the AIV token.
The validator node is responsible for securing the AIVERSE network, packaging new blocks, processing transactions and receiving block rewards. To achieve consensus, validator nodes repeatedly sample each other. The probability that a validate node packages blocks is proportional to the amount of AIV it is staking, including what the user is staking.
To become a validator node, you need to stake at least 100,000 AIV
A validator node can create multiple stake channels, through which a user staking a token. The validator node can customize the rate ratio of the stake channel x%
Users can stake AIV token through the stake channel, and get AIOU(can swap to AIV) to block out reward accounting to the AIV staking ratio of the validator node.
Bob is Staking 10,000 AIV through a stake channel created by Alice, and nine other Staking users, other than Bob, are Staking a total of 90,000 AIV through Alice.
Then, the total amount of AIV staking of the validator node is 200,000 AIV (Alice has staked 100,000 AIV in order to become the validator node).
When a block is successfully packaged by Alice, Bob’s block rewards is:
1/20*AIOU * (1-x%)
‘x%’ represents the proportion of the stake channel rate set by Alice.
Minimum Staking is 10,000 AIV
Note: AIOU can be swapped into AIV at any time in one way, and AIOU will be destroyed after the swapping. The conversion ratio is adjusted at any time based on the ratio of AIOU and AIV across the network.
Verification Node and Staking users redeem staked AIVs and complete the redemption 14 days from the date of redemption.