Injective Equinox Staking is released to the public

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2021-03-30 10:32:39

We are delighted to announce the public release of Equinox Staking.

This is a major milestone for Injective and starting today anyone can authorize top level validators to enter a staking contest and earn rewards.

This is also the first time a user can interact with the native Injective Chain, offering limitless possibilities like zero gas fees and fast transaction times.

Stake your INJ: Link

Instructions for staking Equinox: Link

Background

We launched the pre-staking Equinox feature earlier this month, which allows users to lock in their INJ to profit from the property. Soon after, we were stunned by the unexpected demand, with more than $ 20,000,000 (nearly 2,000,000 INJ) locked in the Injective platform in just a few days.

Over the past few weeks, we’ve also featured some of the best validators in the industry. Behind all, they helped us test our infrastructure as we made some upgrades to the original Injective Chain. This environment has helped to create a process through which we can maintain our agility in regards to making improvements in real time for our users.

Recently, we also have debut improvements Discord channel, allowing people to come and talk directly to our team. We reviewed all the user flow feedback as well as the UI, and recorded any errors the user might encounter during pre-staking.

All of these feedback from users and validators led to the release of Equinox Staking, which went well beyond all of our original goals and provided a great staking experience for everyone.

Equinox Staking

Equinox staking will give people the opportunity to stake INJ on the testnet of the original Injective chain.

For an overview of staking and how it works, please skip to the “What is Staking?” Section. on Injective Learn here.

Note: Even if you have pre-staking your INJ before, you will need to authorize validators now to continue earning 15% basic APY. INJ must be staking for the entire duration of the staking contest in order to be eligible for the award.

Validators

Validators play a key role in ensuring Injective Chain’s Proof-of-Stake (PoS) consensus. Authentication is no small endeavor, as validators must maintain minimum uptime requirements, conduct periodic upgrades, and monitor the normal functioning of the node. Due to the fact that validators money can be cut if the validators malfunction, validation is risky and must be done responsibly.

Some of our validators include names like Stakewithus, Audit One, Figment, Citadel One and Hashquark. Each validators are introduced based on their past successful experience validating other Cosmos-based chains such as Terra and Band Protocol.

After launching our mainnet anyone can become Injective Chain validators.

Authorized person

Anyone can delegate their INJ to Injective validators to earn rewards.

Users can authorize their tokens to validators. In return, validators earn a commission. For example, if you stake 100 INJ with 15% APY, that means you earn 15 INJ throughout the year. However, most validators receive around 10% commission, so they will receive 1.5 INJ from your 15 INJ reward throughout the year. This gives validators the cost to securely host their node infrastructure, which can be quite expensive each year.

All validators and their respective commission rates can be found on the Equinox Staking dashboard after you log in to your wallet. here.

Reward

The best way to determine staking rewards is to use the above calculator overview page Equinox Staking.

The base APY is 15%, but with the addition of exclusive APY increases you can earn up to 29%. You can find detailed explanations on how to increase the APY increase here.

As an added bonus, we will also offer surprise discounts for those who staking (more details will be revealed in the coming days).

Epilogue

The Equinox public release marks the pinnacle of our team’s great ability to enforce and drive meaningful upgrades based on user feedback.

We can’t wait to see all of you staing into Equinox as we continue to build the first completely decentralized derivative trading protocol.

An introduction to the Injective protocol

The Injective Protocol is the first Layer 2 decentralized transaction protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. The Injective protocol allows for completely decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choice.

The Injective protocol is supported by a prominent group of stakeholders, including Pantera Capital – one of the most famous venture capital firms in the world – and the leading cryptocurrency exchange, Binance.

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