interesting idea, but why stake and get risks? Staking is interesting because its out of risk.
If you stake, you nominate a validator. There is an incentive to only nominate good validators in order to secure the network.
you can read all about it over here:
Nothing in Crypto is without any risks but if you follow the clues @Ritskes mentioned you will be fine.
As well the tips from the beginning of the chat (how to select validators) are helpful
IL - yes. But staking (delegation) risky - new for me.
There is least risk involved on chain staking compared to CEX or DeFi protocols. However, its upto an individual to make informed judgement after DYOR.
Interesting. i had the same idea first … why try risking to stake when we could get slashed… what percentage would we get slash does anyone knows?
Depend upon the severity of fault/error by validator. Team will be in a position to provide detailed info, however, the underlying principal is Validator Payout Overview · Polkadot Wiki
Ok, ok. I’m just new to that principle. I used on-chain staking few times without any slashing principle.
I better run a node by myself, to be sure i’m not depended of any 3-rd party faults.
Hey guys, I’m a little confused.
I have some DAI in the Tinlake/Fortunafi Series 1 earning CFG, that’s cool.
I also have some CFG somewhere else, gathering dust right now.
My question is…can/should I add my dusty CFG to my Tinlake/Fortunafi investment?..or can/should I stake it separately?
Advice greatly appreciated.
It depends where do you store your claimed CFG-rewards from Tinlake pools? You cannot re-invest CFG into Tinlake pools but you could swap them into DAI to invest in the pool and earn more CFG.
The easier way is for sure to stake your CFG and earn staking rewards. A guide “how to stake” is in the Community FAQs of the forum
Tjure07 thanks for your clear reply, I have another doubt - I can’t see or find out how to withdraw my claimed CFG rewards from Tinlake.
As you suggested, I want to withdraw them from Tinlake and stake them.
I’ve tried searching online, within the centrifuge site, without luck - sorry to bother you.
Luckily there is a blog post on the topic.
You can also find more user guides on staking in the Community FAQs. This is the space for and especially from the community where everyone can help each other
Slowly getting there, now to staking!
If you need help to get started with staking CFG, there is a manual available here.
cheers mate, much appreciated
Since the topic is rather old and I am not sure whether you caught up with the ‘staking’ comes with risks part.
Just like with everything in life there is a risk / reward curve hidden in staking.
How much is the current staking reward sir?
Pozdrav, the staking rewards vary from validator to validator but on average you can expect an APY of around 20%.
You can check out the various validators and the rates below:
After the parachain launch of the Centrifuge chain traditional staking has ended. Please take a look into the proposed changes to increase the token utility and staking on pools
After the parachain launch of the Centrifuge chain traditional staking has ended.