Frequently asked questions

Staking

Bridge

Tokenomics

Governance

General

General

When can I stake SYNT?

You can start staking SYNT after you have bridged your ERC20 SYNT to the Cosmos-based Synternet blockchain.

What is delegating?

It is the form of staking, which is the only available form supported on the Synternet blockchain. Delegating is a way to stake the tokens to a specific validator node. Users must choose a validator of their liking based on certain variables such as validator reputation, commission rate, uptime history, and other factors. It is up to the delegators to conduct research on and choose their validators.

Are there any risks associated?

Each validator and delegator is at risk of slashing. Slashing is a network event where a validator and a percentage of their delegated stake are punished if they cause damage to the network. The slashed stake is dependent on the severity of the violation.

What is the expected APR?

The average percentage rate (APR) is the investment yield as calculated in terms of the underlying token, i.e. it does not take dollar values at the start of staking and when the rewards are claimed into the account. APR varies in correspondence to the amount of tokens that are being staked across the whole blockchain, which is called the bonding rate, as well as an underlying inflation rate.

Staking Process

How do I stake?

Follow these steps:
  1. Visit https://staking.synternet.com/
  2. Ensure that you have SYNT on Cosmos
  3. Connect your Cosmos wallet to the staking dashboard
  4. Click ‘Stake’ on the validator of your choosing
  5. Input your stake amount, click ‘Stake’, and follow the on-screen instructions
  6. Approve associated staking transactions and you are done

Have questions? Reach out to our team on Telegram or Discord. Verify official team members in Telegram by their CM, Community Lead, or Marketing titles next to their name or on Discord by their red name and the Synternet logo next to it. Be aware of impersonators and fraud attempts.

How many validators can I choose to delegate?

You can choose as many validators as you wish. Generally, it is recommended to split your stake between multiple validators to decrease the risk of slashing and promote decentralization.

Is there a bonding period for unstaking SYNT?

The unbonding period is 14 days, meaning if you unstake, you will have to wait 14 days until the tokens are sent back to your wallet address.

How does restaking differ from unstaking?

Restaking allows you to choose a different validator to delegate on without needing to unstake and go through the unbonding period. Your immediately resume earning the rewards with zero downtime.

Are there any fees associated with staking?

While staking users send transactions and pay gas fees for staking, unstaking and claiming rewards.

How can I become a validator?

To learn more about becoming a validator, please refer to Synternet documentation. This detailed guide will provide all the necessary information and steps to get you started.