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Staking

Staking#

  • The equilibrium of 35,000 ERB stakes exists as a trade-off between network costs, the number of validators, and the total ERB circulation.

  • The stake offers economic finality: a quantifiable measure of chain security.

Introduction#

The conditions for an Erbie qualified node are as follows: the Validator must self-stake 350 ERB and the Staker must delegate a stake of 35,000 ERB. When the Validator initiates the node and completes the self-staking of 350 ERB, the node will begin synchronizing with the Erbie network. Once it reaches the latest block height, it can accept the ERB stakes from the Stakers. After the total stake reaches 35,000 ERB, the node will start participating in the DRE consensus and earning inflation rewards.

ErbieChain operates as a permissionless system, which means that anyone can participate. Such systems need a method to distribute influence among participants. To prevent individuals from creating an excessive number of duplicate identities and overloading the chain, there must be a cost associated with identity creation. In a proof-of-stake system like ErbieChain, participants must stake coins, a limited resource, on the chain.

Roles in Staking#

In the ErbieChain ecosystem, there are two roles related to staking:

  1. Validator

  2. Staker

Staking Process#

The ErbieChain ecosystem incorporates two staking processes. In essence, these two staking processes represent two distinct roles within the ErbieChain system.

  • Validator

    To become a validator, a user needs to stake a certain amount of ERBs to himself, and then stakers can stake more ERBs to the validator. Upon block generation, the validator and the stakers staked to the validator have a chance to earn ERBs. If the user stakes as a validator but fails to run a node program, no rewards will be given. The larger the stake in ErbieChain, the higher the chance of receiving a reward.

  • Staker

    To obtain ERB asset but don’t have resource to run a erbie node, user can stake ERBs to validators. This role doesn’t require running a node program. Upon block creation, the staker also has an opportunity to earn ERBs. The larger the stake, the higher the likelihood of receiving a reward.

Stake Size#

Each validator who can participant verification blocks in the ErbieChain system must lock at least 35,000 ERB.

This figure is a compromise, small enough to allow wide participation, but sufficiently large to prevent an overload of validators. Essentially, by reducing stakes, we may permit stakeholders to operate more expensive hardware on a higher bandwidth network, increasing the risk of centralization.

Stake Redemption#

Deposits in the ErbieChain are locked for a fixed period, and the redemption time is highly correlated with block occurrences. The specific wait time for each user may vary due to factors like block behavior.

  1. Lock-in Period: Users are permitted to initiate redemption transactions after 17280 blocks(The lockup time may change), i.e., when the block height at which the staking occurred surpasses 17280. For instance, if user A stakes at block height 100, the redemption operation can occur after block height 17380.

    Once the redemption operation is completed, the user no longer receives rewards for participating in consensus.

  2. Pre-release Period: After initiating the redemption transaction, the user must wait for another 17280 blocks before retrieving the original deposit.

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