After releasing our mainnet in November of last year, the TOP Network early staking program is now open to the public! We have also launched an early supporters program giving out bonus rewards to those who participate. Learn more about the bonus rewards program here.
What Is Staking?
Staking is a term you have probably heard mentioned at one point or another. Based on whether you are a prospective node operator, or simply a token holder, staking can mean different things. For a node operator, staking involves depositing tokens in order to gain the privilege of mining and earning mining rewards. For a token holder, staking is about depositing tokens into a wallet, and earning rewards by voting for node operators. The node program will be launching soon, but as a token holder, you can already get started.
The TOP Network Staking Economy: A Token Holder’s Perspective
If you don’t have plans to run a node, don’t worry! You can participate in staking simply by owning and pledging TOP tokens. Holders can participate in our innovative and secure cross-chain staking system by depositing TOP tokens to vote for nodes, and in return earn rewards.
Before the mainnet upgrade and public node registration is launched, staking will run slightly differently. Token holders deposit TOP tokens to earn tickets, and are provided an ROI based on how long they decided to lock their tokens. After the mainnet upgrade, stakers will be able to use their tickets to vote for nodes. The table below demonstrates the ROI of 1TOP and the ticket amount granted by 1 TOP with different lock up period.
As of now, it is really simple to earn rewards. Just stake your tokens, and receive a high ROI. Visit our staking portal at https://www.topstaking.io/ to get started, and read this post for a step by step guide on how to stake your tokens. In addition, HiWallet will also support staking soon, so keep an eye out for that announcement. Here are a few things you should know about the process:
- The Longer You Stake, The More Rewards Received
The rate of return for staking depends upon how long you plan to lock-up your tokens for. The annualized ROI ranges from around 18.25% to 36.50%. A 30-day lock-up will net you 18.25% annualized returns, while a 570-day lock-up will double the ROI to 36.50%. Of course, the rewards are also proportional to the number of tokens staked. The current ROI is counted daily and distributed every 7 days until the nodes get on board. After the nodes start working and distributing dividend, the ROI for voters will change and be impacted by market fluctuations.
- All Token Distribution Is Handled By Smart-Contracts. There Is No Need To Trust Node Operators To Pay Out The Rewards.
When voting begins, stakers will need to vote for the nodes they support. Nodes can set the percentage of rewards they keep, and the percentage that goes to voters. It is important to know that all mining rewards are sent straight to a smart-contract. Based on the reward split already agreed upon, the smart-contract will automatically distribute rewards to the voters and to the node. Unlike some other projects that implement staking, there is no need to trust the node operator to pay out the proper amount of rewards! This is governed by an autonomous running smart-contract, so there is no possibility of being cheated.
- Tokens Used For Voting Can NEVER Be Confiscated
Some other projects that implement staking allow voter tokens to be “slashed” if the node begins to act maliciously. When staking on TOP, voter tokens will never be at risk. You can rest assured knowing that even if a node operator starts to act maliciously, your tokens will always remain safe. It makes no sense to penalize the voters when it is the node operator at fault.
Get Started Now and Earn Bonus Rewards!
As mentioned before, to encourage more token holders to stake, we have started a bonus rewards program giving out extra rewards to the first groups of stakers. Learn more about the rewards program here.
As a token holder, when it comes to staking, there is essentially no risk. Stakers can only earn rewards, and never lose their tokens. Additionally, staking is very simple, and requires little effort. So what are you waiting for, start staking today!
You can find TOP Network on:
Email Contact: firstname.lastname@example.org
Official Website: http://www.topnetwork.org
About TOP Network
TOP Network is a decentralized blockchain ecosystem composed of 4th-generation public blockchain, decentralized Apps (DApps) and decentralized communications services.
TOP Chain, the public blockchain infrastructure underpinning the entire decentralized ecosystem, is the world’s first full-state sharding public chain and a high-performance platform for large-scale DApps. Powered by an innovative three-layered ledger architecture consisting of a main chain, service chains, and off-chain ledgers, TOP Chain is capable of handling real-world business of any size and volume. TOP Chain applies technological innovations such as a two-layer lattice DAG, two-layer sharding, and a parallel pBFT-PoS consensus mechanism, making a single chain capable of processing over 100,000 transactions per second. Equipped with high TPS, airtight security, and extremely fast confirmation times, TOP Chain is a reliable platform for services demanding high-frequency transactions such as communication, gaming, social media, big data, artificial intelligence, IoT, and more.
The long-term mission of TOP Network is to build a public blockchain infrastructure for all DApps. Our world-class team of over 100 developers is striving for this goal. We have already developed HiWallet, a cryptocurrency wallet, and are currently developing a series of blockchain games and more large-scale DApps on top of the ecosystem.
Moreover, over 80 million global users will be progressively migrated from the pre-existing communications Apps — Dingtone, CoverMe, and SkyVPN — to TOP Chain, generating a huge volume of transactions and traffic to make TOP a prosperous blockchain ecosystem.
TOP Network was founded by Steve Wei in Silicon Valley in 2017, with the R&D team based in China. Steve was one of the earliest employees of WebEx in the 1990s. After WebEx, he founded Cenwave Communications, a successful video conferencing software company which was acquired by Huawei in 2010. In 2012, Steve co-founded Dingtone, a publicly listed company operating a set of communications Apps with over 80 million global users.