Stake Kusama with Kiln, enterprise-grade staking
What is Kusama?
Kusama is a permissionless sandbox network for Polkadot with its own economic values and token: KSM. It allows builders to test their projects’ technologies, tokenomics, and on-chain governance.
As an experimental network, Kusama allows developers to launch their own blockchains (Parachains) to innovate and ship fast without breaking things or high entry costs.
What is staking?
In a Proof-of-Stake blockchain such as Kusama, staking consists of locking native tokens to earn the right to secure a chain, and earn a yield while doing so.
With KSM staking, users lock KSM 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 Kusama with Kiln?
To stake KSM 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/KSM page of the dashboard
- Select the Account you want to stake on
- Choose the amount of KSM 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, after 7 days 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 the safest and most predictable yields in the crypto space. It is the most natural yield feature in crypto as the value originates from the blockchain’s native currency inflation, which is forecastable.
- Put your treasury to work
- Diversify and earn, while contributing to blockchains decentralization
- Bring new opportunities to generate safe yields to your users
What are the rewards associated with staking KSM?
As an incentive for helping to safeguard the network, you can earn up to 15% APR* from your delegation on Kiln’s Kusama validator.
Why should you stake your KSM with Kiln?
Kiln is the leading enterprise-grade staking platform enabling institutional customers to stake KSM, and to white-label KSM’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 KSM in 1 click
- Manage all their KSM 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 certified and Industry leading SLAs (0 penalties recorded and 99.95% effective uptime)
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Stake Kusama 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 Kusama validators?
Kusama validators verify and add new transactions to the network through the blocks they produce, or attest other validators’ blocks. Validators get rewarded with KSM tokens for securing the network and passing transactions.
How much can you earn by staking KSM? When will I receive KSM rewards?
KSM staking APR is currently 15% at the time of writing this article. KSM 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 Kusama network have transaction and gas fees?
Yes Kusama has both transactions and gas fees paid with KSM.
What are the risks associated with staking KSM?
The Kusama network implements a slashing penalty for any attempts at double signing, other penalties occur for downtime. Slashing penalties vary relatively to a validator stake.
Is there a minimum and maximum amount of KSM to stake for Kusama?
There is no minimum KSM to start staking however, you must make sure to always have at least 0.1 microKSM in your Existential Deposit (ED).
Do I maintain custody of my KSM tokens? Is KSM staking non-custodial?
When you delegate your KSM 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 Kusama? When can I unstake and withdraw my KSM?
It takes approximately 7 days for your KSM to become transferable again after unstaking. During that time, you will not receive rewards.
What is the average block time on Kusama?
The average block time on Kusama is 6 sec, meaning a new block is produced every 6 seconds.
What is an Annual Percentage Rate (APR) and how is it different from Annual Percentage Yield (APY)?
APR, or annual percentage rate, is the fixed interest rate earned on an investment over a one-year period. It is the percentage of return investors can expect to receive on their investment. On the other hand, APY or annual percentage yield, takes into account the compounding of interest on a fixed schedule. It includes both the interest earned and the interest on previously earned interest.
When it comes to PoS protocols, compounding does not always apply as additional validators can be needed to stake more. Therefore, APR is used instead of APY. It's worth noting that APY and APR cannot be compared directly, as they measure different things. However, it is possible to convert APR to APY and vice versa.