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Stake Celestia with Kiln, enterprise-grade staking
Celestia
What is Celestia?
Celestia is a data availability network designed to seamlessly accommodate the increasing number of users, facilitating easy blockchain deployment. It introduces a groundbreaking approach to tackle the fundamental scalability issues faced by blockchains, known as the modular blockchain architecture.
What is staking?
Proof-of-Stake protocols use staking to create consensus. By locking native tokens into a validator, you earn the right to secure a chain and get rewards on your stake. Due to its environmental efficiency, staking has overtaken mining and is used far more often in newer protocols.
By locking a protocol’s native tokens (ie TIA) 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 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 rewards by staking your TIA.
If you do not stake, your assets token share will be diluted among other people’s tokens that are being staked and accumulating new tokens into the network.
You can stake your TIA as well as other (d)PoS cryptocurrencies to:
- 1Put your treasury to work
- 2Diversify and earn
- 3Bring new opportunities by enabling your users to earn staking rewards
What are the rewards associated with staking TIA?
As an incentive for helping to safeguard the network, you can get rewarded with up to a 25% GRR.
(source: https://protocolstaking.info/)
Why should you stake your TIA with Kiln?
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake TIA, and to whitelabel Celestia staking functionality into their offering. Our platform is API-first and enables fully automated validators, rewards, data and commission management.
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 Celestia easy, secure, and accessible to everyone.
We are serving thousands of businesses worldwide so that everyone can securely and seamlessly:
- Stake TIA in 1 click
- Manage all your TIA 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)
Protocol Card
Token
TIA
GRR
10-25%
Number of live validators
100
Consensus
PoS
Stake Celestia FAQ
What does Proof-of Stake mean?
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 incentivizes collaboration and minimizes malicious activity in the consensus process.
What is the difference between PoS and dPoS?
Both are consensus algorithms, helping to democratize one participation to securing a blockchain. Delegated PoS or dPoS means that one validator can stake tokens from several clients. These clients can indeed delegate their tokens to an existing validator instead of running their own.
What are the risks associated with staking TIA?
There is a risk of slashing and a risk of penalty that comes with staking TIA.
When a validator attests to two different blocks, it will face slashing. Stakers who have delegated to the slashed validator will incur a 2% reduction in their stake. The slashed validator will be permanently removed from the active validator set and will be required to create a new validator.
Is there a minimum and maximum amount to stake for Celestia?
There is no minimum staking amount to stake for Celestia.
Does the interest compound when staking TIA?
Yes, you can enable compounding on rewards on TIA by connecting your Cosmos Wallet to Restake.app, click the toggle to enable autocompounding and grant Kiln the ability to do that for you for a given period of time. Then sign the transaction.
Do I maintain custody of my TIA tokens? Is TIA staking non-custodial?
While you may maintain self-custody of your staked TIA (ideally using a Ledger hardware wallet), you may also choose a third-party custodian to control the withdrawal of your staked TIA (i.e. Fireblocks).
What is the lockup period to stake Celestia? When can I unstake and withdraw my TIA?
On Celestia, there is a 21-day fixed duration after which tokens can be unstaked manually at any time and transferred back into your current account.
How do rewards and penalties work?
Rewards come from newly issued tokens and transaction fees.If a validator fails to be online for a specified number of blocks (in your example, 3,750 out of the last 5,000 blocks), they are considered offline. As a penalty, they are removed from the active validator set. However, they can rejoin after a cooldown period, which in your example is 1 minute.
What is the average block time on Celestia?
The average block time on Celestia is currently 15 seconds.
What is a Gross Reward Rate (GRR) and how is it different from a Net Reward Rate (NRR)?
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 Celestia?
There are many existing resources but we invite you to visit the Celestia website and the Celestia documentation.