Skale

SKL

Our Total Stake:
81,783,317
SKL
Validator Address
0xdD4Bc51496dc93A0c47008E820e0d80745476f22
COPY

Skale Staking Tutorial

Your SKLs must be in a wallet or custodial account in order to use our staking services.

Skale Staking Mechanics

Skale Protocol Details

In a Nutshell Report
Skale is a open-source, Proof-of-Stake security and execution Layer 2 network connected to the Ethereum public mainnet. Skale enables decentralized applications (dApps) to scale through highly configurable sidechains that are instantly compatible with Ethereum and its ecosystem. Skale focuses on improving the overall UX, increasing throughput, ecosystem interoperability and, lower transaction fees.

FAQs

What is the incentive to stake my SKL?

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Once you have staked your SKL, you are contributing to the network's security. In return, you will receive rewards in the form of newly minted SKL. Conversely, if you do not participate in staking, your assets will get diluted over time.

Do I maintain control of my SKL when staking them?

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The validator you delegate your tokens to is not able to access your funds at any point in time since you are only delegating your staking rights. At no point in time, we have control over your SKL or your private key.

What are the risks associated with delegating my SKL?

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Slashing will be fully enforced soon. Both, validators and their delegators can then be subject to slashing. Malicious behavior (e.g. signing two blocks at the same time) will be punished with a 100% slash. Poor performance (e.g. being offline for +24h) is punished with a bounty reduction. In case of a severe slashing event, the funds are placed in an ESCROW and "an analysis will be done on whether the validator indeed attempted to act maliciously or if it’s a code issue. If there is no malicious behavior found by the community representatives, delegated tokens will be refunded." (Source)

Therefore, we advice you to carefully choose your validator. Please note, that the costs for running a secure and professional validator need to be covered by the commission rate. Hence, it is worthwhile to accept a certain amount of commission in order to secure your profits and minimize the risk of punishment.

How much can I earn by delegating my SKL to Staking Facilities?

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Use our Reward Calculator above to see how may SKL you can earn through your stake.

For our service, we charge a commission fee of 8%.

When will I receive my rewards?

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You receive your staking rewards within a few days after the end of every epoch (= calender month).

Are the rewards directly sent to me?

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Yes, staking rewards accrue automatically in your account within a few days after the end of every epoch (= calender month).

What do I have to do if I want to sell my delegated SKL?

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Your stake remains locked until the end of your chosen staking period. After that period concludes, your tokens are liquid and can be sold. Please note that within the Consensys Codefi Activate platform your staking period is renewed by default every time it concludes. You can change this within the "Token Inventory" menu of the "Staking" section on Activate.

Are my rewards taxable?

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Unfortunately we cannot answer this question in a general manner as tax regulation differs among legislations. Nevertheless, we advice you to always track your staking operations so you can provide a detailed history of your staking rewards.




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