In celebration of our 300 Block Generator milestone we are increasing the yearly reward by 33%
It’s been two weeks since our Block Generator stakers went live and began accumulating their rewards. The community response to our staking campaigns have been significant, to put it mildly. Daily caps were met within hours and now we’ve reached yet another milestone:
At this moment, the current maximum cap of 300 Block Generator spots has been filled.
This achievement is a testament to the community’s support of our endeavors, and signals a long-term trust in the project that allows us to accelerate developments even more efficiently. If you fear you’ve missed out on the opportunity to stake Dusk tokens as a Block Generator, rest assured: beside the staking opportunities granted through our upcoming Provisioner staking initiative, we also have plans to increase the Block Generator cap in the near future.
Before then, however, we’d like to both thank the community for its amazing engagement over this time and also rebalance the reward pool by increasing the APR for Block Generators.
Due to the exceeding success of Block Generator staking, we’ve decided to increase the annualized reward pool to 4 million DUSK!
By the numbers
In this article, we would like to share some of our favorite statistics about Dusk staking so far. With a total of 300 Block Generators that collectively hold 11.2% of the circulating supply we are well on our way in securing a vast number of consensus participants. As it stands, 300 Block Generators are earning daily rewards that conform to a yearly return rate of 13.3%. Now, with Provisioner staking around the corner, we look forward to opening up staking opportunities for the wider community.
New Block Generator Spots
In effect, all current Block Generators will see their daily rewards increase with 33% starting on the 15th of September. As noted, the cap of Block Generators is currently fixed at 300 spots, with all spots taken. After the launch of Provisioner staking on the 22nd of September, we intend to make an additional 50 spots of Block Generators available to the public on a first come first serve basis.
This reward increase was not a decision taken lightly. In fact, it stems from numerous factors, including our desire to stick closer to mainnet conditions, as to properly simulate our future mainnet launch. We also want Block Generator staking rewards to be competitive, and equally rewarding, with what we have in mind for Provisioner staking.
On top of that, the sheer volume of interest and number of Dusk locked through Block Generator staking alone merits a celebration!
Why stake on Dusk Network?
Staking is a vital mechanic within Dusk Network. On the technical side, the act of staking powers the Segregated Byzantine Agreement (SBA), Dusk Network’s very own Consensus Algorithm. By staking, participants show their dedication and willingness to further support Dusk Network. During the ERC-20 stage, minimal technical knowledge is required to identify as a Block Generator or Provisioner.
Here’s why you should start staking:
- Be part of the community that is Dusk Network
- Be an early adopter of cutting edge technology
- Identify as a Block Generator or Provisioner to earn competitive rewards
PROVISIONER STAKING GOES LIVE ON THE 22ND OF SEPTEMBER
If you’re ready to register for Provisioner staking or want to join the Block Generators already live on Dusk Network, please visit our Staking website through the link below:
To learn more, we highly recommend you read our article ‘An Introduction to our unique Consensus Algorithm’: https://dusk.network/news/consensus-algorithm.