We all love a sizzling steak dinner—but have you ever thought about the rewards of staking ELA? While a good meal might leave you full for a few hours, your staked ELA can keep serving up sweet rewards day after day. Let’s dig in to see why staking on Elastos could be the more satisfying option in the long run!
Elastos Smartweb is building the foundation for a decentralized internet. One of the necessary components of the decentralized internet is blockchain. For its blockchain, Elastos utilizes an Elastic Consensus mechanism that combines merge mining with Bitcoin, Bonded Proof of Stake (BPoS), and Proof of Integrity via the Elastos DAO (Cyber Republic). By staking ELA, participants become an integral part of this next-generation network, helping to secure it while also earning passive rewards.
Understanding Elastic Consensus
Merge Mining (Auxiliary Proof of Work)
- Merge mining allows miners to mine multiple cryptocurrencies simultaneously without requiring additional computing power.
- Bitcoin miners can mine ELA alongside BTC without adding significant overhead, securing the network and receiving ELA rewards in return.
- This arrangement helps Elastos benefit from Bitcoin’s strong security, ensuring an additional layer of protection for Elastos’ blockchain.
Bonded Proof of Stake (BPoS)
- In BPoS all community members and validators secure the network, finalize blocks, and participate in governance.
- A unique design that balances decentralization
- More people staking = More security to the blockchain network.
Proof of Integrity (Elastos DAO)
- The Elastos DAO, formerly known as Cyber Republic, is formed by a 12-member Council elected by the broader community.
- The DAO funds community projects, secures sidechains, arbitrates cross-chain transfers, and plays a key role in overall governance.
- Council members further strengthen network trust by promoting transparency and integrity within the ecosystem.
Staking Tiers and Their Rewards
- Regular Stakers (up to 5% APY)
- If you want to participate in network security and governance without running a node, you can stake ELA to earn passive rewards.
- This option requires the least effort—anyone with 1 ELA can stake it for a period of 10-1000 days.
Benefit: A reliable, steady return on your tokens while supporting Elastos’ decentralization.
- Validator Nodes (up to 21% APY)
- Validators help produce blocks and verify transactions on the Elastos mainchain.
- This role demands a medium level of responsibility—maintaining node uptime and meeting hardware requirements.
- Benefit: Increased rewards and greater influence over the network’s operation, but requires simple technical involvement and monitoring.
- Council Members (up to 36% APY)
- The Elastos DAO Council is voted in by the community and deeply involved in governance decisions, funding allocations, and system updates.
- Members earn the highest staking returns, reflecting the significant responsibility they undertake.
- Benefit: Not only do you earn the highest potential rewards, but you also help steer Elastos’ future development, security, and community initiatives.
Why Stake ELA?
- Secure the Network: By staking, you help ensure Elastos maintains robust security and decentralization.
- Earn Passive Income: Locking up ELA in BPoS provides a source of ongoing rewards, while validators and Council members can tap into even higher yields.
- Shape the Future of the Smartweb: The more you engage in the network—especially at the validator and Council levels—the more direct influence you have over Elastos’ growth and direction.
Next Steps
To get started with staking or become a node operator/Council member, you’ll need the Elastos Essentials Wallet to manage your ELA and any related tasks (like pledging tokens, voting, or registering a node).
For detailed instructions on how to stake or run a validator node, visit the Elastos Staking Portal or watch the official Elastos YouTube channel. You’ll find step-by-step guides, FAQs, and the latest updates to help you on your journey.
In the end, that steak dinner may be delicious—but the taste fades fast. Staking your ELA, on the other hand, could keep rewarding you long after the last bite of ribeye is gone! Whether you choose to become a regular staker, a dedicated validator, or even a Council member, your role in Elastos helps secure the Smartweb’s future while offering some sweet returns. Bon appétit—and happy staking!
