Staking

Bridge

Migration

Frequently asked questions

Staking

Bridge

Migration

General

SYNT staking is now live on Cosmos - bridge and stake now!

https://staking.synternet.com/

What if I’m staking on the old Nominator staking program?

Due to the launch of the Synternet Blockchain, the old staking program on Ethereum is being deprecated. If you wish to continue participating in the staking program, you will need to bridge your tokens to the Synternet Blockchain and start staking there.

When can I start staking SYNT?

You’ll be able to start staking SYNT after you have bridged your ERC20 SYNT to the Cosmos-based Synternet Blockchain on July 31st, 2024.

What is delegating?

Delegating is a non-custodial way to stake their 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 delegator 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 APR varies in correspondence to the amount of tokens that are being staked. Starting on July 31st, you’ll be able to find the current staking rewards and APR by visiting https://staking.synternet.com/. Please note that the APR will be set to 0% upon launch to give everyone a fair chance to stake before inflation begins.

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.

Is there a bonding period for unstaking SYNT?

The unbonding period is 14 days.

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.

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 the Synternet documentation. The detailed guide will provide all the necessary information and steps to get you started.