Flare operates as a Layer-1 network with a primary focus on enhancing blockchain interoperability. It facilitates seamless communication between different blockchains and empowers blockchain projects by extending smart contract functionality to those that lack it.
Flare ensures network security through a combination of the Avalanche consensus and a proof-of-stake system.
Anyone can deploy a Flare validator and participate to the consensus of the Flare blockchain with the minimum FLR tokens required.
Flare's validators do not only validate transactions, they are also designated as Infrastructure Providers, actively participating in decentralized data provisioning for the network.
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 FLR.
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.
As an incentive for helping to safeguard the network, you can get rewarded with up to a 7% GRR* from each FLR validator you stake on Kiln. (Source: https://protocolstaking.info/)
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake FLR, and to whitelabel FLR staking functionality into their offering. Our platform is API-first and enables fully automated validators, rewards, data, and commission management.
We are serving thousands of businesses worldwide so that everyone can securely and seamlessly. 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 FLR easy, secure, and accessible to everyone.
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
Validators are rewarded every epoch (~3.5 days) on Flare.
Interest can compound when staking FLR. To maximize compound interest, an executor can be set to claim automatically staking rewards.
The minimum amount to stake for FLR is 50,000 FLR.
You can maintain custody of your FLR through any wallet or custodian solution of your choosing. Kiln’s FLR staking is non-custodial, only you can access your funds by controlling the underlying wallet which holds a claim to the funds.
Stakers must stake for a minimum of 2 weeks before being able to withdraw staked tokens.
The protocol does not have any penalties or slashing.
As validators play a dual role in both validating transactions and supplying data to the network, they have the responsibility of reporting prices. Validators will only be eligible for rewards if their reported prices fall within a 50% range around the median. Validators who report prices below 25% or above 25% of the median will not receive any rewards. The protocol does not have any penalties.
The average block time is 3 seconds on Flare.
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.