To start the staking process, go to: https://app.hydranet.ai/#/stake
Unlock your wallet, click connect and enter your password and choose the account which you want to use for staking your HDX.
Now you have to approve the transaction so you can stake your HDX later. After this has been approved you can enter the amount you want to stake.
Please note: The APY for staking sHDX or gHDX is the same.
After this has been approved you can enter the amount you want to stake, click stake and confirm the transaction again.
Congrats, you have just staked your HDX!
Q: What is the total amount of HDX per rebase? Is this number fixed? What is the estimated number of new HDX per year?
A: The number is not fixed and it’s not that easy calculable until the moment when we have some constant staked values per week/month. With the planned bonds, we’ll make staking and inflation more constant. More info on the bonds will be published next week.
Rebase gets triggered whenever somebody stakes HDX in a certain time, called epoch (max one rebase in 8 hours). Whoever stakes first in one epoch and triggers the rebase, gets 2 HDX as a reward (bounty) and also rebase distribution like all other stakers.
If the rebase doesn’t get triggered you have to wait until another stake/unstake.
Q: What is the difference between sHDX and gHDX?
A: sHDX and gHDX will reward exactly the same amount of HDX over the same time period. The difference is in how those rewards come. If you select sHDX when staking you’ll receive sHDX at a ratio of 1:1, and you will receive rewards in sHDX each rebase period (every 8 hours if the rebase got triggered by a staker). This is similar to how staking was done on the XSN chain.
If you select gHDX when staking you’ll receive gHDX at a ratio based on the Current Index, which can be found on the dashboard page. While holding gHDX, the amount you hold will remain constant, but the amount of HDX that each gHDX is worth will increase with each rebase period. This is determined by the calculation gHDX * index = HDX.
Each rebase is one epoch, each epoch has a different staking reward. Bounty is a fixed value, HDX balance in staking contract and staked sHDX circulating supply are in each epoch different if we assume that in each epoch somebody will stake.
One example of an epoch:
- sHDX circulating supply: 51375511.494431436
- staking reward: 35273.949352839
- APY = (Math.pow(1 rebaseRate, 365 * 3) — 1) * 100; APY=(Math.pow(1 0,000686591,3653)-1)100
- Current APY=112.03