Original testnet participant and genesis block producer on SKALE’s mainnet.
Serving many of SKALE’s early investors.
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Active participant in the SKALE ecosystem.
The world’s most advanced physical IDC + multi-cloud staking infrastructure.
You maintain custody of your SKL at all times.
Third-party custody solutions are available through our institutional partners. Contact us for more information.
Protected via industry-leading Delegation Agreement.
The SKALE Network is an “elastic” blockchain network that is designed to be interoperable with Ethereum. Ethereum compatible elastic sidechains will be the primary use of the SKALE Network.
Sidechains are operated by a group of “virtualized subnodes” that are selected from a subset of nodes within the network. These sidechains can be run using all or a subset of a node’s computation and storage capacity, which means that a single node can perform work in multiple sidechains.
The SKL token is the work and usage token on the network. Nodes are required to stake a certain amount of SKL in order to receive work. Holders of the SKL token are able to delegate their tokens to nodes on the network, which will allow them to earn a share of rewards earned by nodes they delegate to.
You can learn more about SKALE by reading their whitepaper.
The SKALE Network is an “elastic” blockchain network that is designed to be interoperable with the Ethereum blockchain.
The SKALE Network is an “elastic” blockchain network that is designed to help scale the Ethereum ecosystem through “elastic” blockchains.
The SKL token.
We expect the SKALE mainnet to launch with staking on October 1st, 2020.
Proof of Use: If you purchased your tokens via the Activate Codefi Networks auction, you will need to stake at least 50% of your tokens for three months before you can transfer (or trade) your SKL tokens. If you acquired SKL in any other way, this Proof of Use will not apply.
The target reward rate is 7.8%. The reward rate will halve every 6 years until the max supply of tokens is reached in the network.
Every epoch bounties are distributed equally between nodes in the network (ie. pro-rata for stakers).
As more apps use the SKALE network, stakers will earn more fees in the form of SKL.
The SKALE network protocol will control staked SKL tokens automatically, however, functions involving rewards, delegating, and unstaking will be controlled by you.
It will take three months for your staking delegation to complete and for your tokens to become liquid (ie. transferrable). If you want to delegate for longer than three months, you may elect to have your stake automatically redelegated at the end of the three month period.
There is no inflation. Instead, a fixed amount of SKL tokens have been allocated to reward stakers.
The SKL token supply will be capped at 7 billion tokens, with the initial supply being 4.55 billion SKL.
For the first three months, there will be no potential for being slashed when staking SKL.
At either Month 3 or Month 6, slashing will be turned on based upon community input and security requirements for dApps (decentralized applications).
Our understanding is that the SKALE foundation, comprised of various stakeholders, will make code release decisions to be considered and adopted by the validator set (aka off-chain governance).
We expect that eventually on-chain voting will be implemented in future.