Elrond Network Staking Guide
Elrond Network
The Elrond Network is designed to be a highly scalable and high performing platform for DApps for the internet economy.
Elrond team solves the blockchain scalability and transaction speed problems through its innovative Adaptive State Sharding technology and through Secure Proof of Stake (SPoS) consensus mechanism. The Adaptive State Sharding technology allow the network to vast amounts of transactions with low costs and instant finality in a secure way. The SPoS mechnism reduces the latency in the network and allows any node in the shard to determine which members will be part of the consensus group at the start of each round. Elrond can process up to 15,000 transactions per second (TPS), with 6-second latency, and minimum cost.
In short, Elrond is fast, high-throughput, with a low transaction fee, and smart contract-friendly. On top of that, Elrond team has developed user-friendly toolkits for EGLD holders, and developer-friendly devkits for developers to build on the network.
To know more about Elrond, please check out their website, explorer, twitter and GitHub.
EGLD Basics
tokenomics
The EGLD token, or Elrond eGold, is the native token on Elrond Network and is used for transactions, staking, and governance.
- Total Supply: 20,397,843
- Circulating Supply (at the time of writing): 19,465,382
- Total Staked (at the time of writing):11,759,377 (60%)
- APR of staking (at the time of writing): 20% for base-stake and 14% for topping-up stake, which might result in a proximate overall APR of 14.5% after subtracting validator fees. Please refer to each validator's page for their specific APR.
- Decreased inflation of supply in 10 years, that is to say, each year the inflation rate would decrease and after the 10th year, the total supply would reach the cap and there would be no more inflation.
buy EGLD
You can purchase EGLD on Elrond's own site with credit card or via bank transfer. EGLD is also available on a variety of exchanges, including Binance, Crypto.com, Bitfinex, and OKEx.
How to Delegate EGLD to Forbole
Forbole is running 15 validator nodes on Elrond, which consolidates as a staking pool. Forbole's info on Elrond can be checked here. EGLD holders are welcome to delegate to Forbole!
- Create a Elrond wallet. Please make sure to save the seed phrases, Keystore file (a json file) and the password. You will need the Keystore file and your password every time when accessing the wallet, and you will need the seed phrase to recover the wallet.
- Delegate to Forbole
Method A: from explorer
a. Connect to Forbole from Elrond explorer -Forbole page, then connect to your Elrond wallet. You will need to upload your Keystore file and enter your password in this step.
b. Once on the wallet dashboard, choose Stake Now on upper right corner.
c. Search for "Forbole" then choose Forbole, hit continue.
d. Type in the amount you'd like to delegate and hit continue. Confirm the transaction.
Method B: from delegation manager
a. Go to the delegation manager, and connect to your wallet. You will need to upload your Keystore file and enter your password in this step.
b. Once inside Forbole's delegation manager site, press Delegate and input the amount you'd like to delegate to Forbole, then confirm the transaction.
Please note that there is a minimum of 1 EGLD requirement but no maximum requirement for delegation.
Stay in touch with Forbole:
Elrond Network Staking Guide
Elrond Network
The Elrond Network is designed to be a highly scalable and high performing platform for DApps for the internet economy.
Elrond team solves the blockchain scalability and transaction speed problems through its innovative Adaptive State Sharding technology and through Secure Proof of Stake (SPoS) consensus mechanism. The Adaptive State Sharding technology allow the network to vast amounts of transactions with low costs and instant finality in a secure way. The SPoS mechnism reduces the latency in the network and allows any node in the shard to determine which members will be part of the consensus group at the start of each round. Elrond can process up to 15,000 transactions per second (TPS), with 6-second latency, and minimum cost.
In short, Elrond is fast, high-throughput, with a low transaction fee, and smart contract-friendly. On top of that, Elrond team has developed user-friendly toolkits for EGLD holders, and developer-friendly devkits for developers to build on the network.
To know more about Elrond, please check out their website, explorer, twitter and GitHub.
EGLD Basics
tokenomics
The EGLD token, or Elrond eGold, is the native token on Elrond Network and is used for transactions, staking, and governance.
- Total Supply: 20,397,843
- Circulating Supply (at the time of writing): 19,465,382
- Total Staked (at the time of writing):11,759,377 (60%)
- APR of staking (at the time of writing): 20% for base-stake and 14% for topping-up stake, which might result in a proximate overall APR of 14.5% after subtracting validator fees. Please refer to each validator's page for their specific APR.
- Decreased inflation of supply in 10 years, that is to say, each year the inflation rate would decrease and after the 10th year, the total supply would reach the cap and there would be no more inflation.
buy EGLD
You can purchase EGLD on Elrond's own site with credit card or via bank transfer. EGLD is also available on a variety of exchanges, including Binance, Crypto.com, Bitfinex, and OKEx.
How to Delegate EGLD to Forbole
Forbole is running 15 validator nodes on Elrond, which consolidates as a staking pool. Forbole's info on Elrond can be checked here. EGLD holders are welcome to delegate to Forbole!
- Create a Elrond wallet. Please make sure to save the seed phrases, Keystore file (a json file) and the password. You will need the Keystore file and your password every time when accessing the wallet, and you will need the seed phrase to recover the wallet.
- Delegate to Forbole
Method A: from explorer
a. Connect to Forbole from Elrond explorer -Forbole page, then connect to your Elrond wallet. You will need to upload your Keystore file and enter your password in this step.
b. Once on the wallet dashboard, choose Stake Now on upper right corner.
c. Search for "Forbole" then choose Forbole, hit continue.
d. Type in the amount you'd like to delegate and hit continue. Confirm the transaction.
Method B: from delegation manager
a. Go to the delegation manager, and connect to your wallet. You will need to upload your Keystore file and enter your password in this step.
b. Once inside Forbole's delegation manager site, press Delegate and input the amount you'd like to delegate to Forbole, then confirm the transaction.
Please note that there is a minimum of 1 EGLD requirement but no maximum requirement for delegation.
Stay in touch with Forbole: