You can use your Aion on the OAN to secure the network and earn Aion as a reward. Aion can be earned by mining and staking on the OAN.
Joining a Staking Pool
You can now use the Staking interface to find a pool and start earning rewards, however, rewards will not be earned until the network begins producing POS blocks on Nov 19-20 (block dependant).
Staking the OAN is putting your Aion to work on the OAN to secure the network and process transactions in the network and to earn Aion for your contributions to network security and operations.
A stake is your Aion contribution to the network. Aion is considered as a stake after it satisfies a few criteria. To make it easy the network enables a secure and safe delegation mechanism that makes it easy to participate.
Delegation is a trustless mechanism available on the OAN for Aion coin-holders to earn without having to worry about day to day operations.
Pools never directly own your stake and cannot spend your Aion. OAN enforces mechanisms so that your contribution is under your control and ownership.
A coin-holder delegates to a public staking pool; or in other words, a coin-holder uses delegation service from a public pool. These services mostly come with a fee which is a pre-defined percentage of the reward earnings.
Undelegation lets you withdraw your stake from a pool at any time, however, your funds are released only after about 24 hours ~ by the network.
A staking pool is a service provided by operators of the network in which individual stakes from many users are pooled to provide scale and efficiency.
Selecting and supporting pools that contribute towards the growth of the network is a very important task, and hence users should do their research before delegating. It is healthy for the network to not have concentrated stake with a few pools, hence it is encouraged that users distribute their stake evenly among pools.
Rewards are your earnings on the network. You can withdraw your rewards to your account instantly if you are delegating or staking directly.
Updated about 3 years ago