What is Skale?
SKALE Network is an Ethereum Native multichain network supporting high-throughput, low-latency, configurable byzantine fault-tolerant sidechains for Ethereum.
The SKALE Network has a set of validators securing the network. Validators provide computation power to the SKALE Network via deploying nodes. The collection of validators and the node(s) they spin up represent the entire validator network that performs work for SKALE Chains (an elastic sidechain or SKALE Chain).
SKALE Chains in the network are operated by a group of virtualized sub-nodes selected from a subset of nodes (validators) in the network and are run on all or a subset (multi-tenancy) of each node’s computation and storage resources.
What is SKL
SKALE uses the SKL token, a hybrid use token that represents the right to work in the network as a validator, stake as a delegator, or access a share of its resources. SKALE chains can execute sub-second block times, run over 2,000 tps on every chain, and run full-state smart contracts in addition to decentralized storage, and machine learning in EVM.
Where can I buy SKL?
You can purchase SKL tokens on various exchanges, for instance:
What is the APR?
Currently it is 11%, APR in the Skale Network is not stable and may vary a bit.
Where can I stake NEAR?
You may start staking your assets in the following wallets:
- using MetaMask on Skale.Network
- using the Activate platform via MetaMask
- in Hubble Using the MetaMask Wallet
- in Activate platform via Ledger
Min. stake period and unbonding period
Yes, there is a minimum delegation/staking period of 2 epochs (2 months). SKALE will enable 6 and 12 month periods at a later date. There is no unbonding period. There is only a delegation period and whenever you request undelegation you need to wait until your delegation period ends.
When to receive first staking reward?
Rewards for validators and delegators are distributed at the end of each epoch and you are able to claim them within several days after the end of the epoch. Please note that claiming your rewards incurs a transaction fee, so make sure to have enough ETH in your wallet to cover the fees.
What is the unbonding period on SKL?
Do I have full control over my tokens?
Once staked, your tokens are frozen for a selected staking period and you still remain full ownership of your funds. Validators cannot access your SKL or the private key.
To know more about Skale network
To learn more about Skale ecosystem, do follow them on socials: