Figment

Flow is blockchain that aims to be the foundation for a new generation of games, apps, and the digital assets that power them.

The Dapper Labs team (ie. Flow team) is best known for the partnerships they have made with a number of well-known brands, like the NBA.

The Flow design has three key principles: 

  • Developer-first experience
  • Consumer-friendly onboarding
  • Mainstream-ready apps and distribution
Rewards Distributed every epoch (weekly)
Slashing Only for clear signs of malicious activity
Inflation 3.75%
Unbonding 7 - 14 days
Compounding New delegation required

Optimizing Staking With Figment

Figment offers peace of mind to its customers and provides the most complete staking experience in the industry

EXPERIENCED & TRUSTED

EXPERIENCED & TRUSTED

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

Serving the world’s largest FLOW holders.

30+ years of experience successfully scaling internet infrastructure companies.

FEATURES & BENEFITS

FEATURES & BENEFITS

The Commission rate is 8%.

Active participant in the FLOW ecosystem.

Third-party custody solutions are available through our institutional partners. 

SECURITY & SAFETY

SECURITY & SAFETY

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

You maintain custody of your FLOW at all times.

Protected via industry-leading Staking & Delegation agreement.

Looking to stake over 10,000 FLOW?

Get in touch with our team to discuss Prime customers advantages and unlock the full Figment experience

Staking Guide & Instructions

Stake your FLOW tokens in a few clicks by following these steps:

  1. Either have your Ledger device ready with the Flow app installed or have your Blocto login information ready.
  2. Head to https://port.onflow.org using Chrome or Brave browser and click ‘Sign In’.
  3. Click ‘Stake & Delegate’ in the left margin of the dashboard, then the ‘Start Delegating’ button to begin.
  4. Delegate your FLOW to our Node Operator ID listed on this webpage.
  5. Review your transaction and have your Ledger active and ready, then submit your transaction.

Figment's Validator Addresses

Need more detailed instructions?

See full guide

Flow FAQ

Wallet: https://port.onflow.org

Explorer: https://flow.bigdipper.live

Windows 10 Wallet Users
– In Chrome or Brave, navigate to chrome://flags#new-usb-backend
– set “Enable new USB backend” to disabled
– restart your browser and head to https://port.onflow.org

Flow’s native token, FLOW will be staked to capture new issuance rewards. FLOW will also be used as:

  • Transaction fees
  • Exchanging and transfers
  • Deposit for data storage
  • Collateral for secondary tokens
  • Participation in governance

Staking rewards to began on Dec 16, 2020 (with payouts one week later, Dec 23).

Transfers are enabled, and users started being able to transfer tokens on Dec 23, 2020.

Good question!

Initially, the FLOW is being staked to earn new issuance (“inflationary”) subsidies. That means that the FLOW supply will increase and stakers will capture the newly issued FLOW. Generally, you will earn around 5% annually on your staked FLOW, but that can change. Since staking rewards are tied to inflation, read about how inflation and rewards are related here.

Stakers will also capture fees from network transactions, so as Flow transaction volume increases, FLOW stakers will earn more than new issuance subsidies.

FLOW also gives stakers the right to vote on policy decisions for how the Flow will operate and distribute treasury funds.

The main drivers of the FLOW’s value could be more than transaction fees. FLOW-holders should be able to somehow extract value related to the “assets under management” that the Flow secures (via products like NFTs). Owning staked FLOW is ownership of the Flow, entitling FLOW stakers to set/change the rules of the FLOW.

Between 7 and 14 days.

From the moment you initiate the unbonding process, it takes between 7 and 14 days to unstake, depending upon when the request is made. An epoch is ~7 days, so your tokens will remain staked for the remainder of the epoch and then will take one additional epoch to unlock.

During the one-week unlock period (i.e., epoch), you will not earn rewards. When the process is complete, you will be able to transfer/trade your FLOW tokens.

You can self-custody your FLOW tokens, ideally using a Ledger hardware wallet. These are the instructions for using your Ledger wallet with Flow. Shorter version is here.

Figment has partnerships with a number of top-in-class custodians: support@figment.io

The Flow protocol takes control of your FLOW tokens while you are staking. 

While your FLOW is staked, you may participate in on-chain governance once it is enabled.

Not currently, but we expect that to change. Eventually, a portion of your staked FLOW can be destroyed if you have delegated to a validator that is acting maliciously or offline for long periods. We will update this page when those conditions are enabled.

Staking income on Flow is automatically distributed every epoch. Figment is never in control of your rewards.

Staking income is liquid. Rewards are distributed every week, and you will have to “restake” your rewards before the next epoch to earn on them.

Your potential rewards depend upon validator performance. When your validator is down, you will not be earning staking income.

New FLOW tokens will be minted (ie. created) and then distributed to stakers at a rate of 3.75% of the total supply yearly. All transaction fees get deposited to a fee vault in the Service Account (controlled by Dapper Labs), and the fate of these tokens will be determined by the team over the next few months.

The Flow Service Account has special permissions to change critical aspects of the network, including minting/burning tokens and changing the core protocol. This account will be controlled by the Flow team, Dapper Labs, at network launch. Here are the key details from the Flow team’s documentation.

Governance

Besides its special permissions, the Service Account is an account like any other in Flow. During the early phases of Flow’s development, the account will be controlled by keys held by Dapper Labs. As Flow matures, the service account will transition to being controlled by a smart contract governed by the Flow community.

Additional Resources

Want to learn more about Flow? Check out our latest articles