Figment

Why Stake with Figment?

EXPERIENCED & TRUSTED

EXPERIENCED & TRUSTED

Genesis block producer and original testnet participant. 

Extensive Cosmos ecosystem experience running leading validators on Cosmos, Terra and more.

Serving many of Akash’s early investors.

Figment is a venture funded, registered Canadian company, based in Toronto. Canada offers stability, rule of law and clear crypto regulation.

FEATURES & BENEFITS

FEATURES & BENEFITS

Figment Prime and discounts available for large token holders. Contact us for more information.

Active participant in the Akash ecosystem.

SECURITY & SAFETY

SECURITY & SAFETY

The world’s most advanced physical IDC + multi-cloud staking infrastructure.

You maintain custody of your AKT at all times.

Third-party custody solutions are available through our institutional partners. Contact us for more information.

COMPLIANCE

COMPLIANCE

Protected via industry-leading Delegation Agreement

Delegating AKT Tokens

The easiest way to stake your Akash AKT tokens is via Lunie. As other wallets become available, you can simply search for Figment, or you can delegate directly via the Akash command-line interface (CLI) to Figment’s validator address:

akashvaloper1mp0t9f4lpgu2tqa2maxk3vp8kugn8meyua86fh

Fiat-to-Token Exchange

Please see our comprehensive guide on fiat to crypto on-ramps for all staking tokens.

View Guide

Learn More

The Akash Network will be 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 to 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.

Akash will be a cloud platform for real-world applications. The requirements of such applications include:

  • Many workloads deployed across any number of datacenters.
  • Connectivity restrictions which prevent unwanted access to workloads.
  • Self-managed so that operators do not need to constantly tend to deployments.

AKT is the network token on Akash and will primarily be used for staking. 

Frequently Asked Questions

When are staking rewards enabled? When are transfers enabled?

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.

What is the name of the asset being staked?

Akash’s native token, AKT, is used to stake and to participate in on-chain governance.

Which type(s) and what rate of rewards can I expect?

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

Do I maintain custody of my AKT tokens? Who or what controls my staked AKT token?

You can self-custody your Akash AKT tokens, ideally using a Ledger hardware wallet. Here are instructions for using your Ledger wallet with Akash: https://docs.akash.network/wallet-guides/lunie

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.

How long does it take to unstake?

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.

Can my staked AKT be slashed (seized or destroyed)?

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:

  1. If you delegate to a validator that is offline for over 16.5 hours (assuming 6.25s blocktimes), you will lose 0.01% of the tokens you have delegated to that validator.
  2. If you delegate to a validator that signs the same block twice with the same key, you will lose 5% of the tokens you have delegated to that validator.
What is the rate of new issuance (aka "annual inflation") for AKT? How does the token supply change?

In short: effectively 50% (and reportedly 52%)

Akash is reporting 52% 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%.

How are decisions about the Akash network made and executed?

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

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