Minimum Staking Amount
The Miminum
Approximately 20-25K NXS (April 2022).
The minimum threshold varies every few minutes as staking difficulty changes. The only way to know for sure is to start staking. If no blocks are found within a reasonable time, add more NXS to trust balance and adjust the staking amount. This is the equivalent of adding more Graphics Processing Units (GPUs) to a PoW mining rig. The minimum amount is an estimation, a ballpark approximation depending on community participation and ecosystem adoption. Additional clarification is provided below:
- Nexus staking incentive is a product of the total number of staking NXS and node trust (elapsed time spent securing the network).
- When the node starts staking, trust is minimal. For example, 20K NXS is sent to a trust account, after the coin matures for 72 hours, it takes a few days to generate a genesis which is your first stake transaction that locks your NXS in the trust account.
- The node may not be able to stake the next block before 72 hours (Block Weight = 100%). Don’t be alarmed, continue staking and over time the duration between new stake blocks decreases, and a block may be found within the 72 hour deadline.
- Remain persistent, continue staking at least for 3 months, before you decide to quit (if you wait longer your chances increase). In the meantime the stake amount can be increased.
NOTE: If planning to stake all the NXS balance, understand that when unstaking in part or in full, there will be a penalty on trust and stake rate.
Ex: If a user is staking 50,000 NXS, after a year he reaches 3% stake rate and he unstakes 50% ie 25,000 NXS the stake rate will drop to 1.5% immediately as the stake adjustment is confirmed.
Trust earned by staking beyond a year of continuous staking is recorded, even though the trust score is limited to 100.
Last modified 1yr ago