Stake Injective with Kiln, enterprise-grade staking
What is Injective?
Injective is a Cosmos-based blockchain built for finance applications. It offers out-of-the-box modules, such as decentralized order books, that can be leveraged by dApps.
The Injective smart contract platform is interoperable and can be bridged with Layer 1 networks (Ethereum or Cosmos, for instance).
What is staking?
In a Proof-of-Stake blockchain such as Injective, staking consists of locking native tokens to earn the right to secure a chain, and to be rewarded while doing so.
With Injective staking, users lock INJ to fund a validator, which helps secure the chain by proposing new blocks and attesting other validators’ blocks, earning a yield in the process.
How to stake Injective with Kiln?
To stake INJ in a few clicks, just follow these next steps. It should take you less than 5 minutes to complete your first transaction:
- Install the Keplr wallet extension, if possible with a hardware wallet, and deposit your INJ tokens
- From the wallet extension, access the Keplr dashboard
- In the left panel, select the "Injective" network
- Head to the Staking tab in Keplr dashboard
- Search for the "Kiln" validator
- Select the amount you wish to stake, click on "Delegate"
- Confirm the transaction on Keplr wallet
- You will begin receiving rewards on your staked INJ after 21 days
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 INJ?
As an incentive for helping to safeguard the network, you can earn up to 21.37% GRR* from your delegation on Kiln’s Injective validator. (Source: https://protocolstaking.info/)
Why should you stake your INJ with Kiln?
Kiln is the leading enterprise-grade staking platform enabling institutional customers to stake INJ, and to white-label INJ’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 INJ in 1 click
- Manage all their INJ 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 Injective 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 Injective validators?
Injective validators verify and add new transactions to the network through the blocks they produce, or attest other validators’ blocks. Validators get rewarded with INJ tokens for securing the network and passing transactions.
How much can you earn by staking INJ? When will I receive INJ rewards?
INJ staking GRR is currently 21.37% at the time of writing this article. INJ APR may be subject to change in the future. Rewards can be claimed through the ‘Claim’ button in the Rewards tab of your dashboard subject to the 21 lockup period required by the protocol.
Does Injective network have transaction and gas fees?
Yes Injective has both transactions and gas fees. For most transactions, fees are less than $0.01 (paid with INJ), even during high-traffic periods.
What are the risks associated with staking INJ?
The risks associated with staking INJ comes from double signing and downtime. Double spending on the Injective protocol comes with a slashing penalty, as well as downtime. When delegating with Kiln these issues are taken care of from our end so you don’t have to worry.
Is there a minimum and maximum amount of INJ to stake for Injective?
You can stake Injective’s INJ token with as little as 1 INJ.
Do I maintain custody of my INJ tokens? Is INJ staking non-custodial?
When you delegate your INJ token from your wallet (ideally a Ledger hardware wallet) to a validator such as Kiln to receive staking rewards, you keep full custody and title of your funds, and never relinquish or contribute these assets or any corresponding accrued rewards to Kiln.
What is the lockup period to stake Injective? When can I unstake and withdraw my INJ?
There is a 21 days period lockup on Injective. After unstaking INJ, your tokens become transferable after 21 days.
What is the average block time on Injective?
The average block time on Injective is 1.1 sec, meaning a new block is produced every 1.1 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.