What is xDai?
The xDai chain is an Ethereum-based sidechain that uses a Proof-of-Stake mechanism. It has been live since late 2018 and uses a stablecoin, xDai, as its native cryptocurrency.
The xDAI blockchain is a stable payment blockchain designed especially for fast and cheap stablecoin transactions. The xDAI stablecoin is used for transactions, payments, and fees, and the STAKE token is used for Proof of Stake consensus. xDAI is an ideal cryptocurrency for daily payments and transactions, with extremely low fees, fast payments, and a stable value of about $1 per xDAI
What is STAKE?
The STAKE token is used by validators and delegators to secure the Gnosis chain. Users may participate in chain consensus, either as validators running nodes, or delegators placing stake on those nodes. Participants place STAKE to secure the chain, and receive rewards in both STAKE and xDai (for validators) thanks to unique reward mechanics.
STAKE also serves in a governance capacity (this is being replaced by GNO).
Where to buy STAKE?
- Huobi Global
- AscendEX (BitMax): STAKE/USDT trading pair.
- Poloniex: You can now deposit STAKE and trade STAKE/USDT.
- Bilaxy: STAKE/USDT trading pair.
Additional exchanges listing STAKE are shown on the CoinGecko page.
- Uniswap https://v2.info.uniswap.org/token/0x0ae055097c6d159879521c384f1d2123d1f195e6
- Balancer Pool https://pools.balancer.exchange/#/pool/0x834fb8276B4E8a24010e2108fDd7F8417C8922bD
- 1inch.exchange DEX aggregator https://app.1inch.io/#/1/swap/ETH/STAKE
- Sushiswap https://app.sushi.com/token/0x0ae055097c6d159879521c384f1d2123d1f195e6
You can bridge STAKE on xDai to STAKE on Ethereum with the Omnibridge.
- OmniBridge url: https://omni.xdaichain.com/
How to delegate STAKE?
What is the APY?
APY is the current annual yield a pool and delegator are receiving on their staked amounts. While 15% is accrued by pools for all active STAKE in the protocol, other factors contribute to individual pool and delegator rewards.
What is the unbonding period?
You will order a withdrawal for the entire delegation amount. At the end of the epoch, you will be removed as a delegator for that validator.
When will I receive my first staking rewards
You will only be able to claim rewards of an epoch (1 epoch 1 week) after that epoch ends. You can see the status of the epoch at the top of the page https://blockscout.com/xdai/mainnet/
Note that you will only get rewards for an epoch if you stake the full epoch. If you started staking in the middle of an epoch, you will start earning rewards the next epoch.