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Stake Fetch.ai with Kiln, enterprise-grade staking
Fetch.ai
What is Fetch.ai?
Fetch.ai is a decentralized machine learning network with the goal of democratizing access to artificial intelligence (AI) technology. Introduced in 2019, Fetch.ai seeks to establish a permissionless network allowing individuals to connect and access datasets through autonomous AI.
How is Fetch.ai Proof-of-Stake implemented?
Fetch.ai's version, called slot Proof of Stake (sPOS), imposes a limit on the number of nodes permitted to operate on the network with a maximum of 70 validators. sPOS also decreases the computational load of achieving consensus and facilitates the involvement of smaller investors by allowing them to delegate their stakes to validators.
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 rewarded by staking your Fetch.ai Credits.
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.
You can stake your FET tokens as well as other (d)PoS cryptocurrencies to:
- 1Put your treasury to work
- 2Diversify and earn, while contributing to blockchain decentralization
- 3Bring new opportunities by enabling your users to earn staking rewards
How to stake FET with Kiln?
To stake Fetch.ai Credits with Kiln, delegate your tokens to Kiln validators from any of the following wallet:
- Sign in to your favorite Cosmos chains wallet (Keplr, Leap, etc.)
- Choose the Fetch.ai network
- Find “Kiln”, confirm address fetchvaloper146mj09yzu3mvz7pmy4dvs4z9wr2mst7ryjvncp
- Choose the amount of Fetch.ai tokens you want to stake, and click on Delegate
- Confirm the transaction
Reach out to us you’re an institution wanting to stake FET with Kiln.
Why should you stake your FET with Kiln?
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake FET, and to whitelabel FET 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 FET easy, secure, and accessible to everyone.
We are serving thousands of businesses worldwide so that everyone can securely and seamlessly:
- Stake FET in 1 click
- Manage all your FET 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
FET
GRR
8-10%
Number of live validators
70
Consensus
PoS
Fetch.ai 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 incentives collaboration and fair practices while validating information in a similar way that PoW has with incentives and punishments to curtail malicious activity in the consensus process.
When will I receive FET rewards?
Staking rewards are distributed every block to users' staking balances.
Does interest compound when staking FET
Yes, interest compounds when staking Fetch.ai Credits. Enabled on the Kiln validator through the AuthZ module. See guide.
Is there a minimum and maximum amount to stake for Fetch.ai?
You can start staking FET from any amount.
Do I maintain custody of my FET? Is FET staking non-custodial?
While you may maintain self-custody of your staked FET (ideally using a Ledger hardware wallet), you may also choose a third-party custodian to control the withdrawal of your staked FETs Credits (i.e. Fireblocks).
What is the lockup period to stake FET? When can I unstake and withdraw my FET?
There is an unbonding period of 21 days.You can unstake by unbonding your funds. After you initiated the process:
- You stop receiving staking rewards
- It will take 21 days for the amount to be liquid
- But you will be able to cancel the unbonding process anytime, as this chain currently supports the function
What are the risks associated with staking FET
The primary risk associated with FET involves slashing, which can occur under two main circumstances:
- Downtime: If a validator signs less than 5% of the blocks during a block window (10,000 blocks), they will be jailed for 10 minutes and face a 0.01% slashing penalty. No rewards can be earned during this period of incarceration.
- Double signing: When a validator attests to two different blocks, it will face slashing. Stakers who have delegated to the slashed validator will incur a slashing penalty of 10%, and the validator will be permanently disqualified from earning rewards.
Delegators will need to redelegate their stake to another validator to resume earning rewards.
What is the average block time on Fetch.ai?
Fetch.ai's average block time is 5.90 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.