The Akash Network is a secure, transparent, and decentralized cloud computing marketplace that connects those who need computing resources (tenants) with those that have computing capacity to lease (providers).
The foundational design objective of the Akash Network is to maintain a low barrier of entry for providers while at the same time ensuring that clients can trust the resources that the platform offers them. To achieve this, the system requires a publicly-verifiable record of transactions within the network. To that end, the Akash Network is implemented using blockchain technologies as a means of achieving consensus on the veracity of a distributed database.
|Rewards||Distributed automatically every block|
|Slashing||5% for double signing, 0.01% for downtime|
|Unbonding||21 day unbonding period|
|Compounding||New delegation required|
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Stake your AKT tokens in a few clicks by following these steps:
The easiest way to stake Akash is via Keplr.
In short: both are enabled
Since mainnet launch, Sep 25, 2020, Staking Akash AKT tokens have been enabled, as well as staking rewards and token transfers.
Akash’s native token, AKT, is used to stake and to participate in on-chain governance.
In short: ~72% yearly in AKT tokens
Stakers are currently earning newly-issued AKT tokens.
As of Sep 28, 2020, stakers are effectively earning a yearly rate of ~72.8% staking rewards. This could decrease as more AKT is staked.
Currently just over 67% of the token supply is staked, and the new-token-issuance rate is 50%, which means that the token supply is being increased by 50% yearly and 98% of the new issuance is captured by stakers. When over 67% of the supply is staked, gradually the rate of new issuance decreases (and vice versa).
You can see the number of bonded tokens, the token supply, and the inflation rate here: https://akash.aneka.io
You can self-custody your Akash AKT tokens, ideally using a Ledger hardware wallet.
We recommend using the Keplr web wallet.
The Akash protocol takes control of your AKT tokens while you are staking. If you unbond your tokens, this process will take 21 days before the protocol returns your tokens to you. While your AKT are staked, you may participate in on-chain governance by voting on different proposals.
In short: 21 days
From the moment you initiate the unbonding process, it takes 21 days to unstake. During this time you will not earn rewards. When the process is complete, you can transfer/trade your AKT tokens.
In short: 0.01% slash for ~16.5 hours downtime; 5% slash for equivocation
Yes, a portion of your staked AKT can be destroyed. There are two ways this can happen:
In short: effectively 50%
Akash is reporting 50% inflation, but the average blocktime changes the effective new issuance.
As of Sep 25, 2020, Akash is effectively issuing new tokens at an annual rate of 50% of the total supply. 98% of the new issuance is distributed to stakers, and 2% is held in the community pool (which may be distributed arbitrarily via on-chain governance proposal).
Under 67% of the token supply is staked, so the reported inflation (aka new issuance rate) will increase to a maximum of 58%. If over 67% of the supply is staked, the inflation will begin to decrease before bottoming out at 46%.
In short: on-chain governance via token-weighted vote
The Akash network uses on-chain governance that is nearly identical to that of the Cosmos Hub. Proposals are created to either coordinate together with a signalling proposal, spend funds from the community pool, or to change various network parameters (economic or otherwise).
100 AKT must be deposited as a bond for an Akash proposal to be voted upon. Voting lasts for 14 days. 33.4% of staked AKT must participate in order for the proposal to be valid. A simple majority is then required for the proposal to pass, but 33.4% can veto the proposal.
You can watch proposal activity here: https://akash.aneka.io/proposals
Want to learn more about Akash? Check out our latest articles