Staking is one of the most fundamental principals in proof of stake networks like SKALE and is also one of the four key uses of a utility token. SKALE's pooled security model is incredibly important to securing the network, and one of the ways SKL token holders can participate in the community while also gaining rewards. For a more in depth look at how it works, read this article on the pooled validation model with random node selection and frequent node rotation.
It's always a good sign of a healthy, secure and decentralized network when there's high participation and between the February and March epochs of this year we saw a net increase of 137,704,694 new tokens delegated (roughly $19 Million USD of value using March 1 2022 prices).
Increase in staked SKL stakingrewards.com
Community support and belief in the network is what drives important growth like this. We currently have 5 options for SKL token holder who want to participate in securing the network, and we will see more options coming in the future.
- Activate Codefi by ConsenSys
- Hubble by Figment
- MEW by MEW Wallet
- Unagii by Stakewith.us
- OKx Earn
You can find the staking rewards calculator here.
