Unlocking the Potential of The Root Network: Staking, Nominating, and Validators
Introduction
Welcome to a world where blockchain meets sustainability and innovation — The Root Network.
A proof-of-stake blockchain, it’s more than just a technology; it’s a community-driven initiative towards a sustainable future in the open metaverse. Let’s explore the exciting roles of staking, nominating, and the upcoming validator role in this dynamic ecosystem.
TL:DR
Here is a short twitter thread on this topic: THREAD ON STAKING
Staking
A Gateway to Blockchain Participation Staking in The Root Network is your entry into the blockchain world. By staking ROOT tokens, you’re not just holding them; you’re actively contributing to the network’s security. It’s a straightforward process: stake your tokens for a reward cycle, and earn rewards proportional to your staked duration. And the best part? It’s low risk. You don’t bear the slashing risks associated with nominating. Whether you’re a seasoned crypto enthusiast or a newcomer, staking offers an accessible path to blockchain engagement.
As a staker, your rewards are calculated based on the ROOT tokens you stake and the duration of the reward cycle. Specifically, you can earn 0.024640657 ROOT per ROOT staked during the cycle, with rewards paid out in Vortex tokens at the end of a 90-day cycle. (See here for values)
However, it’s important to note that staked ROOT is locked, and while you can unstake at any time, there’s a 28-day cooldown period to consider. Additionally, withdrawing your stake before the end of the reward cycle means you’ll forfeit the rewards from that cycle. This structure ensures commitment and stability in the network while offering stakers a clear and quantifiable reward mechanism.
Nominating
Elevating Your Role in The Network Ready to take your participation up a notch? Becoming a nominator might be your next step. With a minimum stake of 25 ROOT, you can nominate one or more validators. This role carries more responsibility and potential for greater rewards, but also introduces the risk of slashing. It’s a balancing act of reward versus risk, perfect for those looking to play a more strategic role in the network. Remember, with nominating, you’re not just staking; you’re actively shaping the network.
As a nominator, your earnings are based on the ROOT you stake over the reward cycle, specifically earning 0.049281314 ROOT per ROOT staked, payable in Vortex tokens at the end of a 90-day cycle. (See here for values)
In addition to these staking rewards, nominators also earn based on the performance of the validators they nominate. This earning is calculated based on the commission percentage and the amount of Work points accumulated by the validators during the reward cycle.
However, this elevated role comes with added risks. The ROOT you stake as a nominator is exposed to slashing risks from the validators you choose. Therefore, being a nominator isn’t a passive role; it requires active engagement and periodic monitoring of your nominations to manage risks and optimize rewards. This proactive approach is key to maximizing the benefits of nominating in The Root Network.
Validators
The most anticipated update in The Root Network is the introduction of validators. While this role is not yet available, it promises to be a game changer. Validators will have the highest level of responsibility and, consequently, the potential for the highest rewards. They’ll play a pivotal role in maintaining the network’s integrity, validating transactions, and adding new blocks. As we await more details on this role, the excitement within the community is palpable.
Validators earn based on the ROOT staked throughout the reward cycle, with a rate of 0.073921971 ROOT per ROOT staked, rewarded in Vortex tokens at the end of each 90-day cycle. (See here for values)
Additionally, validators earn based on their performance in the network, though this is offset by the commission paid to nominators who choose them. However, validators also face the risk of having their staked ROOT slashed for any actions that negatively impact the network.
This role is not just about earning potential; it requires a significant investment of time, skills, and resources to set up, run, and maintain a validator node. As such, it's a role suited for those with technical expertise and a commitment to contributing to The Root Network's growth and stability.
Conclusion
The Root Network offers a diverse range of opportunities for participants. Whether you’re staking, nominating, or awaiting the validator role, there’s a place for everyone in this innovative ecosystem. Join us in building a sustainable future in the open metaverse.
Connect
Stay engaged with The Root Network’s journey by following their twitter @TheRootNetwork for updates, participate in discussions on their Discord server TheRootNetwork, and be part of this ground breaking blockchain community.
