Sei is a versatile, open-source Layer 1 blockchain designed specifically for facilitating the transfer of digital assets. With its innovative consensus mechanism and pioneering technological advancements, Sei stands as the fastest blockchain within the industry.
Sei’s consensus also called the “Twin-Turbo Consensus” employs an efficient method for swiftly distributing transactions among nodes. Validators verify transactions, suggest blocks, and transmit them in fragments, speeding up the entire process.
In a Proof-of-Stake blockchain such as SEI, staking consists of locking native tokens to earn the right to secure a chain, and to be rewarded while doing so.
With SEI staking, users lock SEI to fund a validator, which helps secure the chain by proposing new blocks and attesting other validators’ blocks, gaining rewards for doing so.
Kiln runs SEI validators to participate in consensus by voting and validate new blockchain blocks and transactions..
SEI token holders can delegate their SEI holdings to Kiln validators to contribute to network security and earn SEI staking rewards.
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 SEI.
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 6% GRR* from each SEI validator you stake on Kiln. (Source: https://protocolstaking.info/)
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake SEI, and to whitelabel SEI 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 SEI 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 block they (~0.35 seconds) on Sei.
SEI has a built-in compound interest mechanism.
There is no minimum stake amount.
While you may maintain self-custody of your staked SEI (ideally using a Ledger hardware wallet), you may also choose a third-party custodian to control the withdrawal of your staked SEI (i.e. Fireblocks).
Stakers must stake for a minimum of 21 days before being able to withdraw staked tokens.
There is a risk of penalty on Sei protocol. A validator's stake is slashed if they become unavailable or sign blocks at the same height.
Users can stake their SEI with validators and, in return, receive staking rewards. Validators can choose to set a commission fee as compensation for their crucial role. A higher commission rate indicates that the validator receives a larger portion of the staking rewards.
There is a risk of penalty. A validator will be deemed offline if it is unavailable for 5,400 blocks within the latest 108,000 blocks. Once marked as offline, the validator will be removed from the active validator set and can only rejoin after a 10-minute waiting period.
The average block time is 0.35 seconds on Sei.
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.