The Sui blockchain is a layer-1 solution that provides a foundation for a variety of applications, from gaming to finance.
Developed with a focus on functionality and efficiency, Sui is characterized by the instant finality of its transactions and the use of “objects” associated with specific wallets.
The platform's most notable feature is its capacity to process transactions in parallel rather than sequentially, which sets it apart from other layer-1 blockchains.
In a Proof-of-Stake blockchain such as Sui, staking consists of locking native tokens to earn the right to secure a chain, and to be rewarded for doing so.
With Sui staking, users lock SUI to fund a validator, which helps secure the chain by proposing new blocks and attesting other validators’ blocks, getting rewards in the process.
To stake SUI in a few clicks, just follow these next steps. It should take you less than 5 minutes to complete your first transaction:
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.
Detailed information about Kiln validators can be found here.
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.
As an incentive for helping to safeguard the network, you can earn up to 8.25% GRR* from your delegation on Kiln’s Sui validator. (source: https://protocolstaking.info/)
Kiln is the leading enterprise-grade staking platform enabling institutional customers to stake SUI, and to white-label SUI’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:
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.
Sui validators verify and add new transactions to the network through the blocks they produce, or attest other validators’ blocks. Validators get rewarded with SUI tokens for securing the network and passing transactions.
SUI staking GRR is currently 4.91% at the time of writing this article. SUI APR may be subject to change in the future. Rewards can be claimed through the ‘Claim’ button in the Rewards tab of your dashboard.
Yes, Sui has a dynamic gas fee system. For most transactions, fees are low (paid with SUI), even during high-traffic periods.
The risks associated with staking SUI comes from double signing. Double signing on the Sui 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.
No there is no minimum to stake SUI.
Kiln’s Sui validator address is “0x92c7bf9914897e8878e559c19a6cffd22e6a569a6dd4d26f8e82e0f2ad1873d6”, make sure to delegate your SUI to this address to stake with Kiln. Never send tokens to this address.
When you delegate your SUI 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.
There is no lockup period when unstaking SUI. You will not earn staking rewards for the last epoch (24h).
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.