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Stake Sui with Kiln, enterprise-grade staking
Sui
What is Sui?
The Sui blockchain is a layer-1 solution that provides a foundation for a variety of applications, from gaming to finance.
Developed with a focus on functionality and efficiency, Sui is characterized by the instant finality of its transactions and the use of “objects” associated with specific wallets.
The platform's most notable feature is its capacity to process transactions in parallel rather than sequentially, which sets it apart from other layer-1 blockchains.
What is staking?
In a Proof-of-Stake blockchain such as Sui, staking consists of locking native tokens to earn the right to secure a chain, and to be rewarded for doing so.
With Sui staking, users lock SUI to fund a validator, which helps secure the chain by proposing new blocks and attesting other validators’ blocks, getting rewards in the process.
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 SUI 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 SUI?
As an incentive for helping to safeguard the network, you can earn up to 8.25% GRR* from your delegation on Kiln’s Sui validator.
(source: https://protocolstaking.info/)
Why should you stake your SUI with Kiln?
Kiln is the leading enterprise-grade staking platform enabling institutional customers to stake SUI, and to white-label SUI’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 SUI in 1 click
- Manage all their SUI 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
SUI
GRR
2-6%
Number of live validators
100
Consensus
DPoS
Stake Sui 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 Sui validators?
Sui validators verify and add new transactions to the network through the blocks they produce, or attest other validators’ blocks. Validators get rewarded with SUI tokens for securing the network and passing transactions.
How much can you earn by staking SUI? When will I receive SUI rewards?
SUI staking GRR is currently 4.91% at the time of writing this article. SUI APR may be subject to change in the future. Rewards can be claimed through the ‘Claim’ button in the Rewards tab of your dashboard.
Does Sui network have transaction and gas fees?
Yes, Sui has a dynamic gas fee system. For most transactions, fees are low (paid with SUI), even during high-traffic periods.
What are the risks associated with staking SUI?
The risks associated with staking SUI comes from double signing. Double signing on the Sui protocol comes with a slashing penalty, as well as downtime. When delegating with Kiln these issues are taken care of from our end so you don’t have to worry.
Is there a minimum and maximum amount of SUI to stake for Sui?
No there is no minimum to stake SUI.
What is the Kiln SUI delegation address?
Kiln’s Sui validator address is “0x92c7bf9914897e8878e559c19a6cffd22e6a569a6dd4d26f8e82e0f2ad1873d6”, make sure to delegate your SUI to this address to stake with Kiln. Never send tokens to this address.
Do I maintain custody of my SUI tokens? Is SUI staking non-custodial?
When you delegate your SUI 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 Sui? When can I unstake and withdraw my SUI?
There is no lockup period when unstaking SUI. You will not earn staking rewards for the last epoch (24h).
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 Sui?
There are many existing resources but we invite you to visit Sui's website.