The staking dashboard URL is https://staking-testnet.injective.network/.
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A delegator delegates INJ stake to a validator and in exchange receives a part of the validator revenue from signing transactions and confirming blocks.
Because they share revenue with their validators, delegators also share responsibility.
If a validator misbehaves, each of its delegators will be partially slashed in proportion to their stake. Delegators should perform due diligence on validator candidates before delegating, as well as spreading their stake over multiple validators.
Delegators play a critical role in the network, as they are responsible for choosing validators. Being a delegator is not a passive role: Delegators should actively monitor the actions of their validators and participate in governance.
Yes. You must transfer your tokens from Ethereum to Injective Chain through Kovan testnet in order to participate and stake in our staking competition. To make sure that your tokens are safe, the pre-stake step transfers your tokens first from Ethereum to Kovan (Ethereum testnet) and then you must manually transfer them from Kovan to Injective Chain using the staking dashboard's Wallet page.
The Injective Staking dashboard is just a decentralized web application (dapp). It supports the following wallets: Metamask, Ledger.
You must withdraw your funds from Binance or any other exchange to your Ethereum address on Metamask. If you don't know how to use Metamask, learn how to set it up using our How to Setup Metamask resource.
Once you have your INJ and some ETH for gas fees in your Metamask wallet, follow the instructions here to move your ERC20 INJ to Injective Chain.
This is a ledger issue related to derivation paths (ledger legacy/ledger live have different derivation paths). Unfortunately, ledger does not allow you to set a custom derivation path at the moment so the only way to find the correct address is to swap between ledger legacy/ledger live or log out and log back in until you are displayed with the correct address.
Injective is using Peggy, an ethereum-to-cosmos bridge to send tokens to the Injective Testnet for staking. Unfortunately, Peggy is not yet production-ready, so we are taking extra steps to guarantee safe bi-directional passage of your ERC-20 INJ tokens. Here's how:
Injective's Deposit Manager contract acts as a safety net to protect your INJ tokens when you transfer them to Injective's Equinox Testnet for staking. Instead of locking ERC-20 INJ into the Peggy contract on mainnet Ethereum, we are:
- Locking your "pre-staked" INJ tokens into our Deposit Manager (for at least 7 days from your last transfer).
- Minting an equivalent amount of Kovan Injective KINJ tokens on Ethereum's Kovan testnet and sending them to your same wallet on Kovan, which you can transfer in our staking dashboard.
- Instructing you to manually transfer these KINJ tokens to our Injective Chain using our staking dashboard, which calls the Kovan testnet Peggy contract.
Our Deposit Manager contract is a simple accounting contract that records who is sending how many tokens in, and makes withdrawals possible under a set of conditions (see the next question). This way, we will be able to return your tokens to you safely in case unknown issues arise with the Peggy contract.
Kovan INJ is just a test asset created for the purpose of Equinox Staking. It is minted for a user that deposits money into our deposit manager that lives on Ethereum Mainnet Network and keeps the user's funds safe. That way, the user can actually use the same amount he pre-staked (=depositing to the deposit manager) in a test and risk-free environment since we are still testing the functionality of our Injective Chain.
Not at the moment. There are plans about other chain integration, but at the moment there is no strict timeline as to when this will happen. Once we get our chain into a stable version, our focus can shift to something else, and having cross-chain compatibility is for sure one of the top priorities.
Upon transfering your ERC-20 INJ tokens to our Equinox Testnet, you will have to wait 7 days or until the end of our Equinox Staking Competition (whichever comes earlier) before becoming able to withdraw your tokens back to their ERC-20 form on Ethereum. The 7 day period begins and restarts every time you transfer tokens to our testnet. If you withdraw your tokens back to Ethereum before the competition ends, you forfeit any and all rewards accrued during the staking competition.
There is no minimum stake amount for delegations.
You can add more INJ but even though this amount will be shown in the pre-staked amount, it will not be included in the pre-staking rewards (0 to 12 days) nor the early adopter bonus (0 to 2 days). Only your initial pre-staked amount will be awarded with these rewards so the new INJ tokens you deposit will receive the APY from the day you pre-staked them and not from the beginning.
You can find your transaction in etherscan to see when you deposited your ERC20 tokens to our deposit manager. The pre-stake period lasted from March 17 to March 29.
Please use the Testnet Staking Calculator to determine your yield reward estimates. The calculator can be found here after connecting with metamask.
Real time rewards are not shown by design since the tasks you perform were made for the community to test the functionality of our Injective Chain. This means your rewards can vary based on the tasks you complete.
In the Wallet page you can see approximate monthly returns if you complete all of the tasks that are specific to some specific functionality of our Injective Chain.
Currently, only the Metamask extension on the desktop browser and Ledger are supported.
Staking through Binance is not yet supported. There will be an announcement if and when Binance starts supporting it.
Yes, but only for the approval, deposit, and withdrawal of your tokens when performing transactions on through Ethereum (the pre-stake step). We provide you with a sufficient amount of Kovan ETH when you pre-stake, which should cover approval and transfer of your KINJ to Injective Chain.
Please make sure that you have enough ETH for the gas fees needed to transfer tokens to Injective.
Once you have completed your delegation on the Validators page of the staking dashboard, you can go to the Wallet page and find details of your delegations under the Delegations section.
On the staking dashboard, you can go to the Wallet page to find details of your rewards from staking under the Total Rewards card.
Your rewards will be distributed to your INJ balance on the testnet Wallet page at the very end of the staking competition. You will be able to withdraw them to your ERC-20 address at that time.
The rewards will be calculated in the end of the phase based on the pre-staked amount, the day the user pre-staked (March 17 - March 29, 0-12 days), early adopters boost (0 to 2 days) and APY boosts. The injective chain balance and Kovan INJ will not be taken under consideration. You can see a full breakdown of the reward formula in the Calculator (Wallet page).
No. Once you unbond from a validator you stop accruing delegation rewards. This is because your tokens are no longer staked with that validator. Delegate to a validator in order to continue accruing staking rewards.
A completed delegation requires a total of five transactions: approve (on Ethereum), confirm transfer (from Ethereum to Kovan), approve (on Kovan), confirm transfer (from Kovan to Injective Chain) and delegate (on Injective Chain).
This is entirely up to you. You should take into account validator's respective commission rates. Finally, you can delegate to more than one validator in order to diversify your holdings.
Yes, you can do this on the Wallet page using the re-delegate button under the Delegations section. If the validator you are moving your stake from is in the unbonded state, this will happen automatically. If they are bonded, you must wait the full unbonding period (24 hours) before your tokens complete this re-delegation. This means that, unless the validator you are moving delegation from is in an unbonded state, you will not be able to immediately re-delegate twice in a row immediately.
When you add delegations to a validator (manually or via the re-delegate button), your claimable rewards with that validator are immediately auto-claimed and added to your Injective Chain balance.
Slashing is a mechanism built into proof of stake blockchain protocols to discourage validator misbehavior. Slashing events are downtime and double-sign. Double-sign refers to double-spend or chain forks. Depending on the incident and the level of severity, the validator and delegators will lose different amounts of bonded tokens and when double-sign occurs the validator is not possible to re-enter the active validator set that participates in the consensus. The team updated the reward mechanism to ensure that all stakers will receive rewards regardless of validator downtime.
Users may see their injective delegated amount reduced due to slashing. Slashing is a mechanism built into proof of stake blockchain protocols to discourage validator misbehavior. Slashing events are downtime and double-sign. Double-sign refers to double-spend or chain forks. Depending on the incident and the level of severity, the validator and delegators will lose different amounts of coins bonded and when double-sign occurs the validator is not able to re-enter the active validator set that participates in the consensus. The reward mechanism was constructed to ensure that all stakers will receive rewards regardless of validator downtime.
No, you will only receive APY applied to your initial deposited (pre-staked) INJ amount. This APY can be boosted by completing certain tasks. Re-staking rewards that accrue over the period of the competition will grow your Injective Chain balance, but this is not reflective of what you will receive at the end of the competition. This balance is only for completing tasks to earn APY boosts and remain eligible for the baseline APY by actively deglating through the entire competition period.
Thanks to an innovation on our end, we are able to interact with the Equinox Injective Testnet irrespective of which network your metamask is connected to. We do this by using metamask to sign the transactions and route the signed transactions to our testnet separately.
No. Once your delegation transactions are confirmed and you can verify your delegations visually on the Wallet page, then you are done.
The airdropped tokens are distributed via a smart-contract to your Ethereum wallet from which you pre-staked your INJ. As such, if you were on the list, you would find the transaction under “Internal Txs” in etherscan (by putting your wallet address). If you see the transaction there, then you only need to add the airdropped token in MetaMask by clicking “Add Token” and then finding the token (if it is a well-known ERC20 token) or adding a custom token by providing the contract address from etherscan, decimals and token symbol.
In order to create a new denom, you would have to deploy a smart contract and mint an ERC20 token. We recommend you use a dapp which allows you to mint a token without writing code.
Define the fields as follows:
Token Name (The token you would like to propose, e.g. INJ): INJ
Token Symbol: INJ
Token Decimals: 18
Initial Supply (Any positive integer, e.g. 1000): 1000
Token Type: StandardERC20
Network: Kovan Test Network
Click "Confirm" and then in the next screen click the button “Add to Metamask”. Lastly, there is a contract address below the token name which you have to copy and provide it to the requested field during the denom creation.
It depends on the outcome of the incentivized testnet. The goal is to test every component of our Injective Chain during the staking competition.
When this testnet phase is over you will be able to withdraw your INJ from the Equinox Testnet back to Ethereum. From there, you would have to move your INJ through our Peggy Bridge to get them on to our mainnet Injective Chain.
No. Boosts were created only to incentivize our users to stake and interact with the injective chain in this testnet phase so that we can ensure that every element of our chain is working properly before mainnet. Upon staking on mainnet, you will receive a standard APY with no boosts.