How Free TON staking works
The term "staking" implies reaching a consensus on the state of the blockchain using the Proof-of-Stake algorithm. To do this, any user can send their TON Crystal to a stake, and will begin to receive income for participating in maintaining the network.
Free TON offers several roles.
Validators – must support the operation of the virtual server and have a significant amount of TON crystals. The community hosts contests with an award for the most responsible nodes (one of the largest is Magister Ludi). Validators are responsible for computing and signing blocks, must have technical knowledge and provide round-the-clock uptime of their data centers.
When sending false data or long downtime, the validator is fined and automatically loses some of the crystals from the amount of its stake.
Nominators – transferring their TON Crystal under the control of the validator. In return, they automatically receive a share of the reward in proportion to their stake. This is a simple method available to every user, and it only requires a wallet with an address in order to stack your TON crystals. Drawing an analogy with the Proof-of-Work Bitcoin algorithm: validators are managers of mining pools, and nominators are individual miners, which easily connect to the pool and use it to increase income, for a small commission.
If the selected validator tries to break the consensus or goes offline for a long time, the nominator's funds may be partially lost too, in the manner of a fine. Therefore, choose only reliable validators for crystal stacking.
Fishermen – use the computing power of their servers for a detailed study of shardchains for validity. Finding invalid Merkle blocks among the approved ones, they publish the proof and receive a reward. Fishermen's income is the withdrawn stakes of validators who approved an invalid block.
Validators who did not pass the competition due to lack of stake or places can use their computing power and act as fishermen.
The maximum number of validators is 1000. And this is quite enough for decentralized consensus in the Free TON network. In case of active development of the network, some of the validators will be directed to validate shardchains, and the top level in terms of the stake size will be responsible for signing blocks.
Collators – an additional vacancy for the Free TON blockchain validation process, which will not be in high demand yet. But it may be needed when the network is working intensively. Collators will identify candidates for blocks from shardchains, provide them with Merkle proofs, and provide validators for signing, saving their computing power and time. Now validators do all the work of collators on their own.
How to Stake TON Crystal
There is a site with a list of decentralized pools (DePools). The user independently chooses in which of them to put their crystals in the staking.
There are two selection criteria:
- Minimum stake size (from 10 TON crystals and above)
- Fee size (from 1%)
Click «STAKE» on the selected pool, and specify the amount of TON crystals that you will freeze for staking.
Use your seed phrase, or a pair of public and private keys, to place the stake.
Now on the «My Stakes» tab the minting process (extraction of new blocks and receiving a reward) will begin. Everything happens automatically, you can just watch the results and withdraw TON Crystal back to your wallet at any time.
If you want to simplify the staking process, and do not use plugins – place crystals on your account in the Koshelek wallet.
The balance will automatically go staking, and will bring loot every second, right in front of your eyes.
You retain full control over the funds, and you can withdraw them at any time.
The size of the award and conditions of participation
Free TON staking brings in about 8% per year. The percentage may increase or decrease, but this will automatically affect the value of Crystal tokens. It all depends on the number of assets allocated by the validators.
The reward is credited instantly. Funds of nominators, ordinary users, pool members are not frozen and are always available for withdrawal.