Why Pre-stake on Elrond?
Elrond is a proof-of-stake based blockchain platform where a set of validators are incentivized to secure the network by locking an ERD stake, running a node, processing transactions, producing blocks and reaching consensus. Validators are rewarded for their contribution or penalized for malicious behaviour in the network.
Pre-staking is the first phase in the Elrond bootstrapping process. Thus it is an important preparatory phase in which all ERD holders are incentivized to support the Elrond network and mainnet launch, by locking their ERD into a smart contract, contributing to reach the necessary economic security threshold, and earning rewards without being required to run a validator node.
Here’s why you should start prestaking today:
- Support the launch of a game changing technology
- Join a passionate community
- Earn Competitive rewards
How it works?
- The pre-staking process will unfold in 10 successive waves every 3 days, with each wave unlocking 500.000.000 ERD on a first come first served basis for staking. A maximum total amount of 5.000.000.000 ERD will be accepted for staking during the 10 waves.
- Withdrawals will only be possible 30 days after the start of the pre-staking process. After that, withdrawals are possible, with a 7 day unbonding delay, during which rewards are not accrued.
- The reward rate will be between 17%-32% annualized. See the pre-staking calculator above.
- Contract termination
- The smart contract staking process will stop before phase 2 of the bootstrapping process starts, or when a max reward limit of 400.000.000 ERD is reached.
- Wave 1 31 Dec, 2019
- Wave 3 6 Jan, 2020
- Wave 5 12 Jan, 2020
- Wave 7 18 Jan, 2020
- Wave 9 24 Jan, 2020
- Wave 2 3 Jan, 2020
- Wave 4 9 Jan, 2020
- Wave 6 15 Jan, 2020
- Wave 8 21 Jan, 2020
- Wave 10 27 Jan, 2020