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Stake Sonic S with Kiln, enterprise-grade staking
Sonic
What is?
Sonic is a high-performance, scalable, EVM-compatible, and secure smart-contract platform. Sonic is a leaderless, asynchronous, and byzantine fault-tolerant Layer 1 blockchain protocol.
This protocol is powered by Lachesis, an advanced DAG-based aBFT consensus algorithm. Blockchains built on Sonic are fast, secure, and highly scalable. These features allow organizations, businesses, and individuals to develop decentralized applications that can be used in the real world, across a wide range of industries.
How is Sonic Delegated Proof-of-Stake implemented?
Anyone can delegate some Sonic "S" tokens to a validator that participates to the consensus of Sonic. The more stake assigned to the validator, the more often it is chosen to write new transactions, and therefore the more it earns rewards.
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 Sonic S assets as well as other PoS cryptocurrencies to:
You can stake your Sonic S assets 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
How to stake Sonic with Kiln?
Reach out to us to know how to stake Sonic S with Kiln.
Detailed information about Kiln validators can be found here.
What are the rewards associated with staking Sonic S?
As an incentive for helping to safeguard the network, you can earn up to 6.2% GRR* from each validator you stake on Kiln. (Source: https://protocolstaking.info/)
Why should you stake your Sonic S with Kiln?
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake Sonic S, and to white-label 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 Sonic S in 1 click
- Manage all your Sonic S 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
Sonic "S"
GRR
5-7%
Number of live validators
69
Consensus
dPoS
Stake Sonic 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
What is aBFT (asynchronous Byzantine Fault Tolerant) consensus?
aBFT consensus stands for “asynchronous Byzantine Fault Tolerant” consensus. When a network is said to be “Byzantine Fault Tolerant”, it means that nodes can still reach an agreement on an ordering of events even if part of the network acts maliciously.
Ethereum and Bitcoin are synchronous blockchains for instance, meaning that transactions are appended into blocks, one at a time. They follow the longest-chain rule in which the chain with the most number of blocks determines the final ordering of events.
What is Sonic Opera?
Opera is the Sonic's environment to build decentralized applications.
What is the role of Sonic validator?
Sonic Validators help the network to be decentralized and secure by locking Sonic S. Sonic uses a Proof-of-Stake system that requires validators to hold Sonic S. Anyone with at least 1,000,000 Sonic S can run their own validator node to earn epoch rewards and transaction fees. Every Sonic S holder has the option to delegate their tokens to a validator (while keeping full custody of their funds) to receive staking rewards; Validators then take a small fee for their services.
How much do you earn staking Sonic S? When will I receive Sonic S rewards?
Sonic staking GRR is currently 6.2% at the time of writing this article. Sonic GRR may be subject to change in the future. Rewards can be claimed through the ‘Claim’ button in the Rewards tab of your dashboard.
Can I choose which wallet to receive my rewards on and can I split them between multiple wallets?
Yes, when staking Sonic you can decide which wallet to receive your rewards. You can even split your rewards into multiple wallet addresses. Kiln is WalletConnect-compatible.
Does Sonic network have transactions and gas fees?
Yes Sonic has both transactions and gas fees. For most transactions, fees are less than $0.01, even during high-traffic periods. You can check their detailed article about fees here.
What are the risks associated with staking Sonic S?
The main risk is slashing. An Sonic validator can be slashed if:
- It signs two attestations with a different head
- It surrounds another attestation with its attestation
- It submits two attestations with the same target
To prevent any risk, Kiln works with the “Better down than slashed” motto and applies the best industry standards to its Sonic infrastructure.
Kiln also partnered with Nexus Mutual and offers a coverage policy to protect against middle slashing events. Nexus Mutual is the trusted partner for tier-1 institutional funds, family offices and custodians that seek protection across the crypto industry.
Apart from the risk of slashing, there can also be a downtime risk that means that a node is not signing transactions. However to prevent it, Kiln maintains a strong monitoring process.
Is there a minimum and maximum amount to stake for Sonic?
You can stake Sonic S token with as little as 1 Sonic S.
Do I maintain custody of my Sonic S tokens? Is Sonic S staking non-custodial?
When you delegate your Sonic S token to a validator such as Kiln to receive staking rewards, you keep full custody of your funds.
What is the lockup period to stake Sonic? When can I unstake and withdraw my Sonic S?
There is no lockup period on Sonic, you can stake-as-you-go or lock-up your Sonic S for up to 12 months. It takes 7 days to unstake your Sonic S. During that time you will not receive rewards. Once the 7 days pass, you can withdraw the tokens from your wallet.
How do penalties work?
You can unlock your delegation before the lockup period ends. However, you’ll pay a penalty for doing so. Since your rewards are always unlocked and withdrawable, the penalty will come off your staked amount. If you unlock earlier, regardless of how much of the lock-up period is left, you’ll only receive half of the base rewards; the additional rewards will be burned.
In any case, you will never end up with fewer tokens than you delegated.
What is the average block time on Sonic?
The average block time on Sonic is now 0.7 sec, meaning a new block is produced every 0.7 second.
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 Sonic?
There are many existing resources but we invite you to visit the Sonic's website.