🔥 CUDOS on-chain staking goes live🥩
Today we are launching our on-chain staking platform!
CUDOS smart contracts allow you to stake ERC20 CUDOS tokens on Ethereum as a Validator or Delegator to earn staking rewards starting from an estimated 30% APY (Annual Percentage Yield).
- Simply visit wallet.cudos.org to stake your CUDOS tokens on-chain and start earning rewards immediately as a Delegator.
- Get rewards distributed to you each block if you have a stake and claim anytime by submitting a transaction.
- Choose which Validator to use for staking but keep in mind that their fees may vary.
- Sign up as a Validator. But first, you’ll need to be whitelisted by sharing your metamask wallet address with us by either: Completing the validator form in the Cudos staking portal, contacting us via this link, letting us know in Telegram
NOTE: All transactions cost gas so you’ll need some Ethereum (ETH) to use the Staking portal. However, staking via this portal will allow you to easily migrate your tokens to our native chain once live.
The CUDOS token serves well-defined utility purposes. These include network governance and operations, a staking mechanism for receiving blockchain and cloud workloads and a medium of exchange (MoE).
You want to make the most of the CUDOS tokens you already have? Stake CUDOS now!
You don’t have any CUDOS yet? Buy CUDOS now!
Stay tuned for our next post where you can learn how to use the staking platform.
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network being designed to ensure decentralized, permissionless access to high-performance computing at scale and enables scaling of computing resources to 100,000’s of nodes, by tapping into Cudos’ distributed layer 3 network. Being developed in the Cosmos ecosystem, the Cudos network will enable scalable compute and layer 2 oracles on all of the bridged blockchains, including Ethereum, Algorand and Polkadot. Most remarkably, Cudos can be used to provide Turing-completeness to Turing incomplete layer 1 networks.
The Cudos Network, being built on Cosmos, also supports the Inter Blockchain Communication (IBC) protocol. This ensures full integration in the thriving Cosmos ecosystem and access to all its users and features. The Cudos Network is a decentralised Proof of Stake (dPoS) network. This means that it has lower gas costs, high transaction throughput and more scalability compared with any PoW network, among many other benefits.
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