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Stake Kusama with Kiln, enterprise-grade staking
Kusama
What is Kusama?
Kusama is a permissionless sandbox network for Polkadot with its own economic values and token: KSM. It allows builders to test their projects’ technologies, tokenomics, and on-chain governance.
As an experimental network, Kusama allows developers to launch their own blockchains (Parachains) to innovate and ship fast without breaking things or high entry costs.
What is staking?
In a Proof-of-Stake blockchain such as Kusama, staking consists of locking native tokens to earn the right to secure a chain, and to be rewarded while doing so.
With KSM staking, users lock KSM to fund a validator, which helps secure the chain by proposing new blocks and attesting other validators’ blocks, gaining rewards for doing so.
Why should you stake your assets?
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.
You can stake your KSM as well as other (d)PoS cryptocurrencies to:
- 1Put your treasury to work
- 2Diversify and earn, while contributing to blockchains decentralization
- 3Bring new opportunities by enabling your users to earn staking rewards
What are the rewards associated with staking KSM?
As an incentive for helping to safeguard the network, you can earn up to 8.15% GRR* from your delegation on Kiln’s Kusama validator.
(source: https://protocolstaking.info/)
Why should you stake your KSM with Kiln?
Kiln is the leading enterprise-grade staking platform enabling institutional customers to stake KSM, and to white-label KSM’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:
- Stake KSM in 1 click
- Manage all their KSM stakes and rewards from a single dashboard
- Keep custody of your assets, Kiln is non-custodial and work with 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
KSM
GRR
7-15%
Number of live validators
1,000
Consensus
DPoS
Looking to stake KSM?
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Stake Kusama 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, 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.
What is the role of Kusama validators?
Kusama validators verify and add new transactions to the network through the blocks they produce, or attest other validators’ blocks. Validators get rewarded with KSM tokens for securing the network and passing transactions.
How much can you earn by staking KSM? When will I receive KSM rewards?
KSM staking GRR is currently 12.74% at the time of writing this article. KSM GRR may be subject to change in the future. Rewards can be claimed through the ‘Claim’ button in the Rewards tab of your dashboard.
Does Kusama network have transaction and gas fees?
Yes Kusama has both transactions and gas fees paid with KSM.
What are the risks associated with staking KSM?
The Kusama network implements a slashing penalty for any attempts at double signing, other penalties occur for downtime. Slashing penalties vary relatively to a validator stake.
Is there a minimum and maximum amount of KSM to stake for Kusama?
There is no minimum KSM to start staking however, you must make sure to always have at least 0.1 microKSM in your Existential Deposit (ED).
Do I maintain custody of my KSM tokens? Is KSM staking non-custodial?
When you delegate your KSM 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.
What is the lockup period to stake Kusama? When can I unstake and withdraw my KSM?
It takes approximately 7 days for your KSM to become transferable again after unstaking. During that time, you will not receive rewards.
What is the average block time on Kusama?
The average block time on Kusama is 6 sec, meaning a new block is produced every 6 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 Kusama?
There are many existing resources but we invite you to visit Kusama's website.