FAQ
What is staking on Torus?
Staking on Torus involves allocating your Torus tokens to secure the network. By staking, you earn rewards while also contirbuting to the network's stability and security.
How do I start staking on Torus?
You start by acquiring Torus tokens, typically through a centralized exchange such as Binance/Kucoin. These tokens are then sent either to Tofee Wallet, or Metamask which is configured to the Torus mainnet, check guide here. After this, you delegate to a validator node, you can do this by clicking here.
What is a validator node?
A validator node is a participant on the Torus network responsible for validating and adding new blocks to the blockchain. These nodes are crucial for maintaining the network's security and integrity. You can read more here.
Can I lose my staked tokens?
While the Torus network has various measures in place to ensure safety of your staked tokens, if you stake on a validator node that behaves maliciously, there's a risk of losing all your staked tokens. Always stake responsibly.
Can I unstake my tokens anytime?
Yes. If you decide to unstake before your lock-up period ends, you will need to unlock your stake first. Early unlocking will result in a penalty. There is also an "unbonding" period, during which your tokens cannot be withdrawn after you decide to unstake them. The penalty is 50% of the accumulated rewards and the unbonding period is 7 days.
Can I stake with a small amount of tokens?
Yes, the minimum delegation amount is 1 QF.
What are the risks involved in staking?
Risks can include potential slashing (loss of staked tokens) if the validator node behaves maliciously, or potential loss in value of the staked tokens due to market fluctuations.
Can I stake if I'm not a technical user?
Yes, the staking process on Torus is designed to be straightforward and user-friendly. If you need assistance, contact us on Discord.
What's the difference between delegating and validating?
When you delegate, you're lending your tokens to a validator who secures the network on your behalf. As a validator, you're actively participating in securing the network and earning rewards for your efforts. Since the validator needs to have a significant amount of coins in combination with expensive hardware, the validator takes a percentage on the rewards of delegators.
Can a validator run away with my funds?
No. A validator doesn't have access to any tokens except their own. However, if a validator acts in a harmful way, all the funds staked to that particular node could be lost.
What occurs if a validator goes offline?
Should a validator node go offline for 800 blocks and 72 hours, it ceases to receive rewards as it's no longer contributing to the network's security. The stake and delegated stake is not lost and the ex-validator and it's delegators can unstake if they would like. Nonetheless, as mentioned above, the ex-validator doesn't have access to delegator's staked coins, and hence, your funds are safe.