BandChain is an open protocol that facilitates the governance of data used in decentralized blockchain systems. While many decentralized applications rely on centralized data providers, BandChain leverages existing internet data as a secure and scalable decentralized oracle.
BandChain is built on Tendermint and Cosmos SDK, and is designed for speed, flexibility, and cross-chain compatibility.
|Rewards||Distributed automatically every block|
|Slashing||5% for double signing and 0.01% for downtime|
|Inflation||Between 7% & 20% depending on staking participation|
|Unbonding||21 day unbonding period|
|Compounding||New delegation required|
Figment offers peace of mind to its customers and provides the most complete staking experience in the industry
Original testnet participant and genesis block producer on mainnet.
Figment is a venture funded, registered Canadian company, based in Toronto. Canada offers stability, rule of law and clear crypto regulation.
Our Commission rate is 10%.
Active participant in the Cosmos ecosystem, including active governance leadership.
Third-party custody solutions are available through our institutional partners.
The world’s most advanced physical IDC + multi-cloud staking infrastructure.
You maintain custody of your BAND at all times.
Protected via industry-leading Delegation Agreement.
Get in touch with our team to discuss Prime customers advantages and unlock the full Figment experience
Stake your BAND tokens in a few clicks by following these steps:
BAND tokens are the rewards for staking.
In future, a native stablecoin may be earned by stakers.
As of March 30th, 2021, staking rewards were calculated to be 12.60% per year.
The rewards rate will likely always be changing based on:
You maintain custody of your BAND at all times, but your tokens will be locked by the protocol during staking. This means that before you can unbond to transfer your assets (to trade or pay using BAND), you will first need to wait for a 21-day period for the tokens to become liquid.
We recommend using a Ledger hardware wallet to control your BAND tokens. Read more about that here.
As of June 9, 2020, the supply was calculated to be increasing by 14.43% per year.
New tokens are minted at a rate determined by the network’s inflation rate, increasing the BAND token supply. The inflation rate began at 13.5% supply increase per year, and will slowly change. When more than 67% of the supply is staking, inflation will gradually decrease. When less than 67% of the supply is staking, inflation will gradually increase. Inflation has a 7% bottom and 20% cap. 98% of all inflationary tokens are awarded to stakers.
50% of the BandChain transaction fees are burned permanently. The mechanism is designed to contract the supply of BAND as the utilization of the network grows in order for the BAND token value to be correlated with network utilization.
Want to learn more about Band Protocol? Check out our latest articles
Figment is pleased to announce that we will be supporting Band Protocol’s mission to improve the standard for data oracles.
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Band is a protocol that facilitates the governance of data used in decentralized blockchain systems. Figment hosted an AMA with...
Staking and delegating BAND tokens could require a few different steps to achieve. Here is our BandChain delegation guide.