Casper
Layer 1 Protocol, Casper Ecosystem
The Casper Network is a Layer-1 blockchain that makes it as easy as possible for enterprises to build blockchain-enabled products and services. The project was founded to solve the problems that existing enterprise blockchain solutions face in their struggles to support global enterprise adoption without making significant sacrifices in security, scalability, and/or speed.
APY | 15% |
Compounding | Automatic |
Reward Distribution Period | Once per era (~ 2 hours) |
Unbonding Period | 14 Hours |
Validator Self-Bond Requirement | Bidding a recommended 90% of testnet tokens to win validator auction. Token bid amount becomes self-stake |
Inflation | 8% |
Figment Validator Address | 015fd964620f98e551065079e142840dac3fb25bd97a0d4722411cb439f9247d72 |
Recommended Wallet |
Double Signing | ~90 days of jailtime for validators double-signing |
Downtime | N/A |
The initial delegations will be hardcoded into the Casper genesis block, so whether you have received tokens through BitGo or the token sale on CoinList. If you’ve chosen a validator beforehand, you’ll start receiving rewards on day one. The rewards received at genesis will not be able to be withdrawn after 90 days. Unbonding from the network will take 7 days, after which your tokens will be free to move.
If you are staking with BitGo and looking for a staking interface: hang tight. They will be building a staking interface but don’t have an estimated timeline. We’ll provide more information as it is built and as tokens become available for claiming rewards and unbonding.
Since there will not be much liquidity at genesis, we don’t expect a staking interface to be built until the end of April or May. But we can look forward to having an updated block explorer up and running by the end of March. This will replace the current block explorer, Clarity.
The only way to get tokens at the moment is through the CoinList token sale. This means that if you are not using either institutional custodian services, BitGo or Coinlist, the only other way to delegate on Casper is through a command-line interface (CLI). If you are new to using a hardware wallet or are curious about self-custody, we have guides for Ledger and SafePal Wallets. Casper will have support for Ledger wallets by the time trading starts in May of 2021. Delegating using a CLI on Casper does require a decent amount of technical knowledge, so follow Casper Lab’s instructions closely.
All tokens acquired via VFTA have a required a 90 day lockup period and a 90 day unlock period. Not all of your tokens will unlock on day 90 - they will event unlock over 13 weeks.
Here is an example for 100,000 tokens unlocking over 90 days:
Delegators who selected Option 1 or Option 2 through CoinList will receive an 8% annual rewards rate for the first year. This only applies to those who received their tokens through CoinList. If you’ve received tokens through a private sale, this APY might be different.
Part of the reason that Casper has long lock-up periods is to have dedicated, long-term investment in the network over time. Option 3 is the only tokens that will be liquid for the first few months to help validators spin up nodes and participate in consensus.
If you’ve purchased tokens, the exact details are as follows:
There will be 10 billion CSPR at the time of genesis; 16% of that is dedicated to the CoinList public offering. Roughly 29% of tokens have gone to validators in private sales, and 14% is reserved for the Casper Association.
We can make a solid estimate of the rewards rate by dividing the percent staked by the inflation rate.
Inflation is 8% at genesis. Based on inflation, we can calculate rewards based on the percentage of the network staked. The following are three estimations of what rewards we could expect when the network is 70%, 80%, and 90% staked.
If you would like to stake with BitGo and us or need help staking with CLI, we’re happy to help out.
Reach out: [email protected]
Casper is counting on the community to help build a website and wallet accessible to all.
Caspers’ native token, CSPR, is used to pay computation fees and reward validators.
Staking rewards will be enabled at launch. Depending on how you purchased tokens, either through the token sale on CoinList or the private sale details, transfers will be allowed as your tokens unlock. The first transfers will be enabled in early May.
Good question!
Initially, the CSPR is being staked to earn new issuance ("inflationary") subsidies. That means that the CSPR supply will increase and stakers will capture the newly issued CSPR. Generally, you will earn around 10-20% annually on your staked CSPR, 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 Casper transaction volume increases, CSPR stakers will earn more than new issuance subsidies.
The CSPR also gives stakers the right to vote on policy decisions for how the Casper will operate and distribute treasury funds.
7 days. During this time, delegators will not receive rewards.
Figment has partnerships with a number of top-in-class custodians: [email protected]
The Casper protocol takes control of your CSPR tokens while you are staking. If you unbond your tokens, this process will take one day before the protocol returns your tokens to you.
Casper does not slash for downtime. They have introduced a penalty for double-signing, the validator will be kicked out of the active set for ~90 days. During that time, a validator’s stake will be unbondable and untransferable.
Rewards will be automatically staked.
Outside of slashing, if a node is offline for an entire era, the node will be removed from the validator set and will not earn rewards.
The new issuance ("inflation") rate is around 8% of the total supply.
Casper has proposed a governance model that includes Constituency Groups making governance decisions on behalf of their representatives.
In some protocols, simply holding the token is necessary for voting for on-chain governance. But Casper wants to allow core developers, open-source contributors, open-source dApp devs, commercial licensees to participate in governance alongside validators and delegators.
There is no decentralized governance on the network. The core team controls network developments and communicates those instructions for node operators to upgrade their infrastructure.
CasperSign is the first native dApp created by community members at ChronoLogic and Digital Strategies CasperSign. As an alternative to HelloSign and Docusign, it is a blockchain-based solution that allows users to digitally sign confidential documents on the Casper Network.
What is staking?
On a Proof of Stake blockchain, staking is the act of depositing tokens in order to become a validator; that is, to participate in proposing and attesting to transaction blocks. Anyone with a minimum necessary coin balance can validate transactions and earn staking rewards on these blockchains.
What is the name of the asset being staked?
Caspers’ native token, CSPR, is used to pay computation fees and reward validators.
Why stake CSPR?
Initially, the CSPR is staked to earn new issuance (“inflationary”) subsidies. This means that the CSPR supply will increase and stakers will capture the newly issued CSPR. Generally, you will earn around 8% annually on your staked CSPR, but that can change.
Stakers will also capture fees from network transactions, so as Casper transaction volume increases, CSPR stakers will earn more than new issuance subsidies. The CSPR token also gives stakers the right to vote on policy decisions for how the Casper will operate and distribute treasury funds.
How long does it take to unstake?
It takes 7 eras, approximately 14 hours to unstake. During this time neither validators nor delegators receive rewards.
When are staking rewards and transfers enabled?
Staking rewards are enabled at mainnet launch. Transfers are enabled, but holders cannot trade tokens until they become unlocked.
How is staking income disbursed?
Staking income on Casper is automatically distributed once per era (~ 2 hours).
Rewards will be automatically staked and are locked for the first 90 days, along with all other tokens.
Can I lose potential staking rewards?
Your potential rewards depend upon validator performance. Validators earn rewards by participating in consensus by finalizing blocks. If your validator is offline or cannot vote on many blocks, you will not earn as many rewards.
Can my staked CSPR be slashed (seized or destroyed)?
Yes, a portion of your staked CSPR can be destroyed. If a validator is slashed, all tokens that have been delegated to that validator will also be slashed. Casper is slashed for double-signing, also known as equivocations. Double signing happens if a validator is running two nodes and they both sign the block at the same time.
What is the rate of new issuance (aka "annual inflation") for CSPR? How does the token supply change?
The actual annual inflation rate is 8%. There will be 10 billion CSPR at the time of genesis.
What affects future yields?
Rewards are calculated based on the total staked tokens, and they might vary for different delegators, depending on their validator’s performance and size. Validators earn between 10% and 20% of their staked CSPR in the first year, with regular participation under expected network conditions - also bear in mind different validators might have different commission fees. The growth of a delegator's individual stake depends on the total active stake, as only a fixed number of tokens is created per era. The new issuance rate is around 8% of the total supply.
Do I maintain custody of my CSPR tokens? Who or what controls my staked CSPR token?
Figment has partnerships with a number of top-in-class custodians. Please contact [email protected] for more inquiries.
How are decisions about Casper made and executed?
Casper has proposed a governance model that includes Constituency Groups making governance decisions on behalf of the group that they represent. In some protocols simply holding the token is necessary for voting for on-chain governance. But Casper wants to allow core developers, open-source contributors and dApp developers, and commercial licensees to participate in governance, alongside validators and delegators.
Last modified 5mo ago