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Stake ALGO with Kiln, enterprise-grade staking
Algorand
What is Algorand?
Algorand is a next-generation blockchain protocol designed to deliver unmatched speed, security, and scalability for digital transactions and decentralized applications.
Powered by a Pure Proof-of-Stake consensus mechanism, Algorand ensures decentralized participation, environmental sustainability, and instant transaction finality, eliminating inefficiencies found in traditional blockchain systems.
With support for advanced smart contracts and seamless interoperability, Algorand empowers developers and organizations to build scalable, secure solutions for real-world applications.
What is staking?
Proof-of-Stake is a consensus algorithm that relies on a stake rather than a proof of work. This makes it more efficient and environmentally adapted. By offering a stake in the form of locked tokens into a smart contract. This stake is used to secure the chain and validate blocks.
By locking a protocol’s native tokens (ie ALGO) to give “validators” the right to secure a chain. Validators propose new blocks or attest other validators’ blocks, gaining rewards for doing so.
Why should you stake your assets?
Staking is one of the safest and most predictable ways to get rewarded in the crypto space as the value originates from the blockchain’s native currency inflation and a share of transaction fees. You help secure the network and get rewarded by staking your ALGO .
If you do not stake, your asset's token share will be diluted among other people’s tokens that are being staked and accumulating new tokens into the network.
You can stake your ALGO as well as other (d)PoS cryptocurrencies to:
- 1Put your treasury to work
- 2Diversify and earn, while contributing to blockchains decentralization
- 3Bring new opportunities by enabling your users to earn staking rewards
Why should you stake your ALGO with Kiln?
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake ALGO, and to whitelabel ALGO staking functionality into their offering. Our platform is API-first and enables fully automated validators, rewards, data, and commission management.
Our clients can stake their tokens from our dashboard, a hardware wallet, a browser wallet, a B2B custodian, a crypto exchange, or just their favorite investment app. Kiln makes staking ALGO easy, secure, and accessible to everyone.
Kiln has been closely working with Algorand to make sure we provide the best staking experience as possible.
We are serving thousands of businesses worldwide so that everyone can securely and seamlessly:
- Excellent track record in staking on 40+ protocols, managing more than $10b in stakes.
- Trusted by industry leaders such as Ledger, Lido, Coinbase Cloud, Bitpanda, Crypto.com and many more!
- Non-custodial, work with your existing custodians solutions e.g.Ledger, Fireblocks
- SOC 2 Type II certified and Industry leading SLAs (0 penalties recorded and 99.95% effective uptime)
Protocol card:
Consensus
DPoS
Token
ALGO
GRR
3% to 6%
Number of validators
2287
Algorand FAQ
What does Proof-of Stake mean?
Proof-of-Stake (PoS) is a type of consensus mechanism used to validate cryptocurrency transactions. Through PoS, validators can contribute to the block production of a chain while keeping environmental concerns to a minimum, which is becoming an increasingly large issue in Proof-of-Work.
By staking capital rather than energy, validators risk losing a portion of their value and future potential for staking by misbehaving while creating blocks. This incentives collaboration and fair practices while validating information in a similar way that PoW has with incentives and punishments to curtail malicious activity in the consensus process.
Do I maintain custody of my ALGO tokens? Is ALGO staking non-custodial?
While you may maintain self-custody of your staked ALGO (ideally using a Ledger hardware wallet), you may also choose a third-party custodian to control the withdrawal of your staked ALGO (i.e. Fireblocks).
What are the risks when staking ALGO?
There is no slashing when staking ALGO. Instead, an algorithm kicks out ineffective nodes from the network. Make sure to stake with an enterprise-grade operator like Kiln to make sure you stake ALGO on a reliable validator.
How do rewards work on Algorand?
ALGO staking rewards are issued in real-time at each block. When staking ALGO, the initial staking reward for the block proposer is 10 ALGO in addition to 50% of transaction fees in the block.
What is the average block time on Algorand?
The block time is ~2.8 sec on Algorand.
What is a Gross Reward Rate (GRR) and how is it different from a Net Reward Rate (NRR)?
In the context of Proof-of-Stake blockchains, the gross reward rate (GRR) refers to the total or gross amount of rewards earned from staking before deducting any fees or expenses. This is a reward rate that fluctuates with the operations of the protocol and the performance of validators, it is not set by Kiln. The net reward rate (NRR), on the other hand, takes into account the deductions or expenses, providing a measure of the actual rewards received after subtracting fees or costs.
Where can I learn more about Algorand?
You can learn more about Algorand on the Algorand website.