Staking​

Staking is a Proof of Stake protocol that helps to keep Vince Chain secure and running all the time. You help maintain Vince Chain's integrity, and in return, get rewarded for your contribution. Vince Chain also organizes special staking with rewards where users earn higher rates with higher stakes and low risks.

Validators are responsible for processing your transactions on Vince Chain. This requires some special technical skills to keep transactions running. The good part is you can become a validator without having these skills and without engaging in any technical skills. You do this through staking on the network.

Staking is a win-win for users, validators, the network, and the community. Stakers earn appreciable value in return for the favor granted on the network. Validators are rewarded for securing the network, the community experiences fluidity, and there is liquidity in the network.

Staking on Vince Chain simply involves locking up your $VCE token in the protocol. That way, you delegate your tokens to validators to process transactions on the network on your behalf. Over time, you earn interests (in APY or APR) depending on your staked value. Vince Chain dictates the un-bonding time for your locked-up token, during which you can unlock them. You withdraw your rewards if you meet the criteria for staking and collecting your assets.

</ Image for staking on Vince Chain>

Vince Chain approves its own validators. You can choose the validator to delegate in our delegated Proof of Stake consensus (DPoS). Delegating validators could come with risks. Therefore we recommend choosing validators with less voting power and consistent online activity. You can also redelegate your stake instead of un-delegating them. You could lose your stake if your delegator acts maliciously and gets punished.