Until now, in order to be eligible for staking rewards, it was necessary to run a “baker”, which is the name given to the nodes that create blocks in the Concordium network.

Any user who meets the minimum stake requirements and the hardware requirements of the network will be able to set up a baker node. However, the requirements are not something that is available to everyone.

After the network upgrade and the deployment of the Sirius protocol, the delegations to these bakers will be available and therefore the staking rewards to the delegators will be activated.

No, there is no minimum staking amount to delegate CCD as a delegator. On the other hand, to become baker, the minimum amount required is 14,000 CCD.

The native token of Concordium is the CCD. Although initially the native token of the project was called GTU, at the end of 2021 it was decided to change it and use a name more representative of the brand. It is the payment token of the platform and is used as an incentive and means of payment of commissions and transactions.

All changes in Concordium are made every 24 hours. That is to say, the staking rewards that have been distributed during those 24 hours are distributed in the pool once a day.

Concordium is based on a Delegated Proof-of-Stake system where slashing rules may apply. That is, a part of a baker’s total stake could be slashed, which means that this amount could be reduced in case of non-compliance with these rules.

Our Concordium validator is managed by a team highly skilled. In addition, Stakely has a Staking Insurance Program to cover losses in case of slashing incidents and develops different tools in order to improve the user experience of our delegators.

Besides ensuring and maintaining the highest quality of our services as a validator, we actively participate in the governance of the network and provide support to our delegators.

Each baker opens a pool where CCD holders can delegate their tokens and receive staking rewards for them. The more stake that baker collects in its pool, the more chances the baker will bake a block (the process of creating blocks is called baking) and generate rewards.

To avoid centralization, the maximum token limit per pool is 5% of the total amount of CCD in circulation. This way, the network ensures that a single baker does not concentrate all the voting power and that if that baker crash, it won’t affect the whole network.

Another limitation is related to the amount of staking that a baker can receive. The total amount that a baker can receive in its pool will be 3 times the total amount of tokens delegated by the baker in its pool. That is, the more tokens a baker delegates in its own pool, the more delegations it can receive.

Concordium’s main objective, besides solving the famous trilemma of scalability, security and decentralization, is to find the solution to regularisation in order to unlock trillions of potential business transactions on blockchain.

All accounts created on Concordium are linked to an identity. For the verification of your identity, Concordium uses third parties in order to preserve the nature of decentralization.

It is necessary to have verified your identity to be able to make transactions on the Concordium blockchain.

Once your identity has been verified, you will have a personal identification card in your wallet and an associated account. You will be able to create as many accounts as you want once your identity has been created.

You can withdraw your tokens from the pool at any time. There is a cool-down period of 2 weeks from the time you decide to withdraw your tokens from the pool, during which time your tokens will remain in the pool generating rewards.

The commission deducted directly from the delegators’ staking rewards is 10% for all validators. This parameter is set by Concordium.

Stakely’s baker ID is 89288.