Ontology Staking Explained
Ontology uses the VBFT consensus mechanism to secure its network. At any given time, there will be 7 nodes who have been voted in by the community to participate in consensus every block. Users vote for nodes by staking ONT tokens in multiples of 500 tokens per stake.
Users are free to stake ONT in any node, change their stake, or withdraw their stake back.
Staking is managed in terms of rounds, which are comprised of 60,000 blocks each. Each block can range from 1 second to 30 seconds, which means each round can range from 16 hours to 20 days.
Get ONG for staking ONT
Ontology Gas (ONG) token is the fuel for transactions on the Ontology network. ONG is distributed on the Ontology network to ONT holders. If you have ONT on your balance, you can get ONG. After each generated block, ONG is distributed among ONT holders.
How to stake ONT on Guarda?
The minimum amount is 1 ONT.
Open your ONT wallet and click “Staking”, then “Deposit for staking”. Select a validator and confirm. The rewards are distributed after the end of the round. The round is 120,000 blocks and its duration can vary in time (from one and a half days to one and a half months).
Use this calculator to see your possible rewards.
How to claim ONG?
Unbound amount – a distributed reward which is not available for the claim, until you make some transaction.
Unclaimed amount – a reward that is available for claim. After you make some transaction unbound amount will become unclaimed.
Open your ONT wallet and click “Staking”, then “Claim”. You will need to pay the network fee, so make sure you have enough ONG on your balance.
How to unstake ONT
Open your ONT wallet and click “Staking”, then “Unstake”. The unstaked amount will be frozen until the end of the round. After the end of the round, this amount becomes available for withdrawal. You can claim it by clicking “Redeem”.