OKX

Stake OKT with Kiln, enterprise-grade staking

What are OKC and OKX?

OKC is a Cosmos-based blockchain built for trading, favoring a high transaction throughput for low transaction fees without compromising on security.

OKX is a leading Crypto exchange platform that offers a broad range of products to millions of users worldwide.The platform provides all kinds of trading products, such as margins and perpetual contracts, as well as crypto-specific investments products like DeFi or staking.

How does OKT staking work?

Anyone can delegate some OKT (the OKC chain token) to a validator that participates to the consensus of the OKC blockchain. The more stake assigned to the validator, the more often it is chosen to write new transactions, and therefore the more it earns rewards.

What is staking?

Proof-of-Stake (PoS) relies on validators to propose new blocks or attest other validator’s blocks. This is done through locking up native tokens to earn a reward for securing the chain. PoS has taken over as the most popular consensus algorithm from mining in newer blockchain systems.

By locking a protocol’s native tokens (ie OKT) 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 a great way to earn rewards while benefiting the protocol you choose to stake on. It derives its value from the natural inflation rate of the blockchain’s native currency and is therefore a built-in form of reward that is easily calculated in advance.

By staking OKT you are earning rewards while helping to secure the network and keep it decentralized. Conversely, by not staking your OKT you are suffering from network inflation without benefiting the system nor making returns on your holdings.

You can stake your OKT as well as other (d)PoS cryptocurrencies to:
  • Put your treasury to work
  • Diversify and earn, while contributing to blockchains decentralization
  • Bring new opportunities by enabling your users to earn staking rewards

Protocol Card

Token
OKT
GRR
9-11%
Number of live validators
28
Consensus
dPoS

How to stake OKT with Kiln?

Reach out to us to know how to stake OKT with Kiln.

What are the rewards associated with staking OKT?

As an incentive for helping to safeguard the network, you can earn up to 9.11% GRR* from each OKC validator you stake on Kiln. (Source: https://protocolstaking.info/)

Why should you stake your OKT with Kiln?

Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake OKT, and to whitelabel OKT 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 coins from our dashboard, a hardware wallet, a browser wallet, a B2B custodian, a crypto exchange or just their favorite investment app. Kiln makes staking OKX easy, secure, and accessible to everyone.

  • Stake OKT in 1 click
  • 99% uptime guarantee
  • Manage all your OKT stakes and rewards from a single dashboard 
  • Non-custodial, work with your existing custodians Solutions e.g.Fireblocks
  • SOC 2 Type II certified and Industry leading SLAs (0 penalties recorded and 99.95% effective uptime)
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Stake OKT FAQ

What does Proof-of Stake mean?

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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, the consensus algorithm used in Bitcoin.

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 incentivizes collaboration and minimizes malicious activity in the consensus process.

What is the difference between PoS and dPoS?

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Both are consensus algorithms, helping to democratize participation in securing a blockchain. DPoS is an iteration of PoS combining real-time voting with a system based on reputation to reach consensus across the blockchain. Voting power is still determined by how many tokens they have however.

When will I receive OKT rewards?

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OKT rewards are issued every block in the same OKC address you are staking with.

Does interest compound when staking OKT?

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OKT rewards are not compounded. You have to claim rewards and add them to your stake to compound OKT tokens.

What are the risks associated with staking OKT?

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OKT implements a slashing mechanism. This includes downtime for validators and their delegators and for nodes that attempt to vote on two separate attestations at the same time. Slashed validators will add bonded tokens to the staking pool.

Slashing also occurs if OKC’s Proof-of-Stake generates an invalid hash.

The main risk on the OKC blockchain as of today is downtime. To prevent this risk, you can outsource your blockchain services to a dedicated infrastructure provider such as Kiln, which has a 99.95% effective uptime. You can now focus on your business while our experts take care of the infrastructure.

Is there a minimum and maximum amount to stake for OKT?

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You can start staking OKT with 0.0001 OKT and there is no maximum stake.

Do I maintain custody of my OKT tokens? Is OKT staking non-custodial?

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While you may maintain self-custody of your staked OKT (ideally using a Ledger hardware wallet), you may also choose a third-party custodian to control the withdrawal of your staked OKT (i.e. Fireblocks).

What is the lockup period to stake OKT? When can I unstake and withdraw my OKT?

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The unbonding period for OKT is 2 weeks. There is no delay to stake or switch from one validator to another.

How do rewards and penalties work?

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For every slot, the validator is expected to sign attestations. If submitted attestations are good, the validator receives rewards, otherwise it receives penalties. In case the validator is offline it will also receive penalties.

What is the average block time on OKC?

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The average block time on OKC is 4 seconds.

What is a Gross Reward Rate (GRR) and how is it different from a Net Reward Rate (NRR)?

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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 OKC?

We invite you to visit the OKC website.

Ernest Oppetit, CPO
February 28, 2024
Gross Reward Rate (GRR) may change over time and vary depending on the open source blockchain protocol code. In addition, fees might be deducted from the gross effective rewards earned.