Stake Flow with Kiln, enterprise-grade staking
What is Flow?
Flow is a fast and decentralized blockchain designed to power an ecosystem of games and applications.
Thanks to its multi-role architecture, Flow can scale natively and power millions of dApps requests in a developer friendly environment, Flow being ACID-compliant and using its own smart contract development language called Cadence.
What is staking?
In a Proof-of-Stake blockchain such as Flow, staking consists of locking native tokens to earn the right to secure a chain, and to be rewarded while doing so.
With Flow staking, users lock FLOW to fund a validator, which helps secure the chain by proposing new blocks and attesting other validators’ blocks, gaining rewards for doing so.
There are different kinds of nodes on the Flow blockchain. Kiln runs a Consensus node responsible for assembling transactions and proposing blocks, similar to a “validator” on PoS or DPoS blockchains.
How to stake Flow with Kiln?
To stake FLOW in a few clicks, just follow these next steps. It should take you less than 5 minutes to complete your first transaction:
- Login to Kiln dashboard
- Go to the /stake/FLOW page of the dashboard
- Select the Account you want to stake on
- Choose the amount of FLOW you want to stake
- Connect your wallet (for instance Ledger, Metamask, Trust Wallet, etc) Kiln supports multiple wallets as well as WalletConnect
- Click on the “Stake” button!
As easy as pie! Kiln takes care of everything. To unstake, you simply need to undelegate into one transaction and you will receive your original stake back in your wallet as well as accumulated rewards from delegation.
Why should you stake your assets?
Staking generates one of the safest and most predictable ways to get rewarded in the crypto space. It is the most natural reward feature in crypto as the value originates from the blockchain native currency inflation and a share of transaction fees.
- Put your treasury to work
- Diversify and earn, while contributing to blockchains decentralization
- Bring new opportunities by enabling your users to earn staking rewards
What are the rewards associated with staking FLOW?
As an incentive for helping to safeguard the network, you can earn up to 9.87% APR* from your delegation on Kiln’s Flow validator.
Why should you stake your FLOW with Kiln?
Kiln is the leading enterprise-grade staking platform enabling institutional customers to stake FLOW, and to white-label FLOW’s 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:
- Stake FLOW in 1 click
- Manage all their FLOW stakes and rewards from a single dashboard
- Keep custody of your assets, Kiln is non-custodial and work with existing custodians solutions e.g.Fireblocks
- SOC 2 Type II certified and Industry leading SLAs (0 penalties recorded and 99.95% effective uptime)
Stake Flow 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, 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 incentivises collaboration and fair practices while validating information in a similar way that PoW has with incentives and punishments to curtail malicious activity while creating consensus.
What is the role of Flow validators?
Flow validators verify and add new transactions to the network through the blocks they produce, or attest other validators’ blocks. Validators get rewarded with FLOW tokens for securing the network and passing transactions.
How much can you earn by staking FLOW? When will I receive FLOW rewards?
FLOW staking APR is currently 9.87% at the time of writing this article. FLOW APR may be subject to change in the future. Rewards can be claimed through the ‘Claim’ button in the Rewards tab of your dashboard.
Does Flow network have transaction and gas fees?
Yes Flow has both transactions and gas fees. For most transactions, fees are less than $0.000001 (paid with FLOW), even during high-traffic periods.
What are the risks associated with staking FLOW?
There are no slashing penalties associated with staking FLOW yet. Slashing will be enforced in the future to penalize validators that would go against the consensus.
Is there a minimum and maximum amount of FLOW to stake for Flow?
You can stake Flow’s FLOW token with as little as 1 FLOW.
Do I maintain custody of my FLOW tokens? Is FLOW staking non-custodial?
When you delegate your FLOW token from your wallet (ideally a Ledger hardware wallet) to a validator such as Kiln to receive staking rewards, you keep full custody of your funds.
What is the lockup period to stake Flow? When can I unstake and withdraw my FLOW?
Staking is effective instantly and it takes 2 epochs (1 to 2 weeks) to unstake FLOW tokens. After the first epoch your FLOW will move to the “unstaking” status and will be unstaked and free to transfer after the second period.
What is the average block time on Flow?
The average block time on Flow is 2 sec, meaning a new block is produced every 2 second.
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.