Earn Polkadot Staking Rewards with Figment

Polkadot is an interoperability network allowing interacting protocols to benefit from a shared security environment.

Polkadot is often referred to as a ‘metaprotocol’ – a protocol on which other protocols can operate. It facilitates a settlement environment that creates an ease of experience for projects that choose to execute within the Polkadot ecosystem via secure cross-chain message passing (XCMP) between chains and secured consensus on behalf of the validators that verify transactions for connected chains. The terminology used within the Polkadot community is that the relay chain is a ‘Layer 0’ protocol.

Market Cap

$10.0B

Staking Rewards Rate

16.64%

Price $7.51
Auto-Compounding No
Reward Frequency Per era
Unbonding Period 28 days
Slashing Penalties Enabled Yes

Estimated staking information, Market Cap, and SRR (Staking Rewards Rate). Data is approximate and subject to change. Data provided by CoinGecko and/or Figment API.

Table of contents

Highlighted Protocol Characteristics

Staking Guide & Instructions

When you nominate Figment, be sure to add all of the Figment validators to your list. Using Polkadot{.js} you can simply search ‘Figment’ or manually add each of our addresses. Note that the protocol will automatically optimize your stake.

Figment Validator Addresses

Market Cap

$10.0B

Staking Rewards Rate

16.64%

Price $7.51
Auto-Compounding No
Reward Frequency Per era
Unbonding Period 28 days
Slashing Penalties Enabled Yes

Estimated staking information, Market Cap, and SRR (Staking Rewards Rate). Data is approximate and subject to change. Data provided by CoinGecko and/or Figment API.

Table of contents

The Latest Insights from Figment Experts

Features

Rewards Performance

Figment clients benefit from our engineering and protocol expertise to earn consistent staking rewards via our safety over liveness approach.

Staking & Data

Manage your staking positions, view detailed and comprehensive rewards statements, analyze data on protocol wide and validator specific performance, and interact with blockchains with our Staking and Rewards APIs.​

Robust Risk Coverage

Off-the-shelf coverage for Figment customers to help offset the risk of slashing, downtime, and missed rewards backed by insurance and Figment’s balance sheet.


Frequently Asked Questions

Polkadot’s native token, DOT, is used to stake, pay transaction fees, and to participate in on-chain governance.

Initially, DOT is being staked to earn new issuance (“inflationary”) subsidies. It means that the supply of DOT will increase and stakers will capture the newly issued DOT. Generally, you will earn around 14% annually on your staked DOT, but it is subject to change.

Stakers will also capture fees from network transactions, and as Polkadot transaction volume increases, DOT stakers will earn more than just new issuance subsidies. DOT also gives stakers the right to vote on policy decisions on how the Polkadot protocol will operate and distribute treasury funds.

The main drivers of the DOT’s value could be more than transaction fees. Since DOT is required to lock up in parachain bidding, a new side chain will be required to procure and lock these DOT tokens in competition with other side chains. DOT-holders are also expected to be able to get early exposure to the assets of new side chains by lending their DOT for this bidding process.

Owning staked DOT is ownership of the Polkadot network, making DOT stakers entitled to setting/changing the rules of the Polkadot protocol.

From the moment you initiate the unbonding process, it takes 28 days to unstake. During this time you will not earn rewards. When the process is complete, you can transfer/trade your DOT tokens.

Staking rewards have been enabled with the launch of the Polkadot mainnet on May 26th 2020.

Once triggered, rewards on Polkadot may be automatically distributed every era (ie. 24 hours). Figment is never in control of your rewards. However, you will not receive your rewards until a claims transaction is sent, which any nominator may do every 24 hours.

Rewards are not staked automatically, which means you will need to lock and nominate with your rewards in order to compound your them.

Your potential rewards depend upon validator performance. When your validator is down, you will not be earning rewards. If your validator is not performant, your rewards will be reduced.

Yes, a portion of your staked DOT can be destroyed if the validator(s) you nominate are involved with too much stake going offline simultaneously or equivocation events (aka double-signing). Validators will be slashed a fixed percentage of their stake and not a fixed amount of DOTs. This means that more DOTs will be slashed from validators with a higher stake. This further incentivizes nominators to choose validators with a lower stake.

Figment has partnerships with a number of top-in-class custodians. Please contact support@figment.io for more inquiries. The Polkadot protocol takes control of your DOT tokens while you are staking.

If you unbond your tokens, this process will take 28 days before the protocol returns your tokens to you. While your DOT tokens are staked, you may participate in on-chain governance by voting on different proposals.

Polkadot uses token voting for on-chain governance. Governance proposals are discussed on the forum.

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