Staking Dijets on Dijets network

Staking is the process of locking up DJT coins to support the Dijets network while receiving a reward in return. The rewards vary depending on the staker and staking purpose. For instance, Council Members stake a set amount of DJT as a requirement for the duration of their council term. In return, the rewards they receive are in the forms of monetary compensation, increased network utility, and governance contribution.

When a validator is done validating, it receives back the DJT coins that were staked. The validator also receives a reward for helping to secure the network provided the validating node was sufficiently responsive and correct during the time it validates. On Dijets Testnet, all staking parameters are the same as those on Mainnet except for the following ones:

  • The minimum amount that a validator must stake is 1 DJT
  • The minimum amount that a delegator must delegate is 1 DJT
  • The minimum amount of time one can stake funds for validation is 24 hours
  • The minimum amount of time one can stake funds for delegation is 24 hours

To stake DJT coins as a validator, you need to have completed your Dijets Node setup requirement. You should have your NodeID at hand, which is the ID that was generated when you first built and started Dijets Node. You also need to ensure that you have a balance of 25,000 DJT in your Method Chain. You can only submit your stake if you have DJT on Method Chain. Alternatively, you can make an intra-chain transfer to have the required DJT balance in the Method Chain.

To confirm the NodeID for the validator’s stake, restart your Dijets Node. Then, log into your wallet using the Singleton Wallet address you generated. Make sure the wallet has 25,000 DJT coins on Method Chain. Fill out the form with Staking details and submit the transaction.

Finally, it’s important to note that staking rewards are sent to the nominated wallet address at the end of the staking term as long as all of the staking parameters are met.