Avalanche is an open-source protocol for launching interoperable and highly scalable Decentralized Applications (dApps). The protocol architecture is built on top of three highly-specialized blockchains, each compartmentalized with a unique function designed to optimize speed, flexibility and security by enabling near-instant transaction finality and high throughput secure smart contracts. Avalanche was started in 2018 by a group of software developers called Team Rocket, soon after, AVA Labs was founded with the goal of maintaining the Avalanche blockchain.
*Stated Annual Percentage Reward (APR) is estimated based based on reported network data. APR stated is not guaranteed and excludes Avalanche’s required 2% minimum validator fee. The lock-up period, payout frequency, and minimum tokens needed are all set by the blockchain protocol.
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What is Avalanche (AVAX), and what is it used for?
AVAX is the native token of Avalanche’s Proof-of-Stake network used to process transaction fees, secure the foundation of the network via staking, and act as a basic unit of account for token transactions between multiple parties. Avalanche is an open-source protocol for launching interoperable and highly scalable Decentralized Applications (dApps).
What are Avalanche's staking rewards?
Staking rewards in the form of native blockchain tokens (AVAX) are distributed to validators for locking up their cryptocurrencies to a blockchain network to support validator node’s participation in the consensus mechanism and securing the network for a period of time. Refer to the data above for the latest Avalanche staking reward figures.
What are the costs of staking Avalanche?
StakeSeeker charges a small percentage-based fee (stated above) allocated towards the administerial 24/7 maintenance and monitoring of our staking infrastructure required to operate our validators effectively and securely. The rewards distributed to our community will be a net of the validator fee charged.
Is staking Avalanche secure?
When AVAX is staked, it’s actually being delegated to a validator. In our case, StakeSeeker facilitates the role of the validator. Similar to staking tokens on any other protocol, staking AVAX comes with certain risks. If any downtime is experienced, or if a validator misses another part of the necessary requirements, then a percentage of the staked AVAX can be lost as a penalty (known as “slashing”). StakeSeeker monitors its nodes 24/7 and has an excellent track record that minimizes these risks.
What are the current use cases of Avalanche?
Avalanche’s ecosystem powers a robust range of applications across non-fungible tokens (NFTs) marketplaces, Decentralized Finance (DeFi) lending protocols, and portfolio management.
How long does it take to unstake Avalanche?
AVAX implements a time-specific staking (delegation) period. When you first assign your AVAX for staking, you will be required to select the period of time for which your AVAX will be delegated. The tokens cannot be unstaked before that. The minimum amount of time that AVAX can be staked is 24 hours.
What is the minimum amount of Avalanche to stake?
You can stake as little as 25 AVAX, but remember to keep some AVAX token unstaked in your wallet to pay for any potential future transaction fees.
What are the risks of staking Avalanche?
Like many blockchain protocols, the consensus mechanism used by Avalanche includes a slashing mechanism whereby any validator that misses too many blocks or double signs a block is penalized by the network, slashing the staked amount on that validator. StakeSeeker is run by Nasdaq listed BTCS Inc. which has its own tokens staked on the same validator nodes, so we are highly incentivized to minimize these risks and maximize our staking reward. However, delegators should be cognizant of these risks.
How do I get started staking Avalanche?
To begin staking Avalanche, click the “Start Staking” button at the top right, create an account with StakeSeeker and gain access to the platform’s crypto portfolio insights. Then, you can begin staking with our validator nodes by delegating your tokens. Within the platform, there are instructions and tutorials on how to link your crypto exchange accounts and digital wallets and how to navigate the platform’s tools. You can view our supported blockchain networks for staking on our homepage.
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