Provenance
Cosmos SDK
Provenance is a Cosmos-based blockchain whose mission is to develop a vibrant ecosystem of decentralized financial services for a variety of financial institutions and individuals.
Provenance supports the financial service industry by providing a ledger, registry, and exchange across multiple financial assets and markets.
APY | TBD |
Compounding | Manual |
Reward Distribution Period | Every block (~6 seconds) |
Unbonding Period | 21 Days |
Delegation Requirements (Min-Max) | min. 1 HASH |
Validator Self-Bond Requirement | 1 HASH |
Inflation | Non-inflationary |
Figment Validator Address | pbvaloper1g0ksqyf6rehy5j8hzsq34tdl9kkc8cetgdgmat |
Recommended Wallet |
Double Signing | 5% |
Downtime | 0.01% |
Step 2. At the bottom of the pop-up window, click on “Create new wallet”.
- Important: The browser password manager must be enabled since the encrypted private key is stored this way.
Step 3. Select “Generate seed phrase” and click “Continue” for a new wallet.
- Note: If you have previously created a wallet, you can import the existing seed phrase or private key to regenerate the wallet.
Step 4. A new pop-up window will appear and show your 24 word seed phrase. Make sure to write down these 24 words and have a backup of this wallet saved. This will allow you to restore the wallet if needed. Ensure this file is stored in a safe location. Once you have copied and stored your seed phrase, select “Continue” at the bottom of the window.
- Important: Loss or compromise of your 24 word seed phrase may result in permanent loss of your HASH.
Step 5. Verify the requested words of your seed phrase to continue.
Step 6. Fill the information by choosing a wallet name and password.
- Note: The wallet name serves as a way to identify your encrypted private key. The password is used to encrypt your private key before it is saved. Private keys are encrypted and stored locally. This password will be needed to decrypt the private key in order to complete transactions.
Step 7. On the “SAVE TO KEYCHAIN” window, select “Copy” and paste the encrypted private key in the password field below.
- Important: the password manager must be enabled to save the password.
You have now created and saved your Provenance wallet !
- Note: Choose the adequate type of account, enter the information and select “Sign up”.
Step 2. Select “Create Wallet'' on the redirected page.
Step 3. Select “Continue'' on the new pop-up window.
- Note: Change the wallet name if desired like and select “Submit”.
Step 4. Review Figure's custody agreement, enter your full name and select “Sign & Submit”.
Step 5. From Figure’s dashboard, select “Menu”, and “Link Provenance Wallet”.
Step 5. Enter your credentials on the new pop-up window, and select “Connect”.
Step 6. Select “Set as wallet default” and hit “Submit” on the new window that Figure auto filled with the details of your wallet.
Step 7. Set up your Figure Passport in order to fund your Provenance Wallet.
- Note: Follow ALL the steps in order to connect your bank account to Figure’s dashboard.
Step 8. Select “Deposit” in order to fund your account.
Step 9. Select “Trade” in order to exchange USD for HASH.
- Note: You can now return to https://wallet.provenance.io/ to see your HASH and to interact with the Provenance ecosystem.
Step 2. Select the Key icon in order to connect your wallet.
- Note: If you followed the previous steps, select “Provenance Wallet”.
Step 3. Enter your credentials on the new pop-up window, and select “Connect”.
Step 4. Select “Staking” on the top menu.
Step 5. Search for the Figment moniker and select “Delegate”.
- Note: Figment validator can also be found with the following validator address: pbvaloper1g0ksqyf6rehy5j8hzsq34tdl9kkc8cetgdgmat
Step 6. On the new pop-up window, enter the amount of HASH you wish to delegate and select “Delegate”.
Step 7. Confirm the Figment validator address and select “Confirm” and “Broadcast”.
- Figment validator address: pb1env6shlkv2jtd4qyjd2xl70mcha8m07mp8uemq
Congratulations! You have successfully delegated your HASH to the Figment validator.
You can now track your staked HASH under the My Validators section of the Provenance Explorer Staking dashboard.
Delegators staking HASH receive rewards based on the transaction volume. Provenance is non-inflationary since the 100 billion HASH have been minted since genesis. Since there is no inflation adjustment, the rewards are redistributed from the fees paid for the transactions. Thus, the higher the volume of transactions, the more rewards are distributed.
Provenance employs on-chain governance. Users holding staked Hash tokens can participate in voting on governance proposals which drive the evolving configuration of the blockchain.
Even though the chain is up and running, we're still very early in terms of applications built on Provenance. We are the burgeoning state.
- Figure Marketplace - Bilateral trading of digital assets, including loans, loan participation, and private equity
- Six other applications currently in development:
- Adnales - cap table management and valuation building on immutable records and instant traceability for companies looking to better manage equity offerings
- Figure Loan Origination System
- Figure Passport - Digital Identity on-chain for entities and individuals
- Figure Portfolio Manager - Manage and see the real-time performance of loans on Provenance Blockchain
What is protocol 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?
The Provenance network token, HASH, is used for staking, and participating in on-chain governance.
Where can I explore the network and create a provenance wallet?
Wallet: Provenance Wallet Block Explorer Figment provides advanced explorer features with Hubble.
How long does it take to stake and unstake?
There is a 21 day unbonding period to unstake your HASH.
When are staking rewards and transfers enabled?
Staking rewards and transfers will begin at the launch of the mainnet.
How is staking income disbursed? Is staking income liquid or automatically staked?
Staking income on Provenance is automatically disbursed every block. Figment is never in control of your rewards. Staking income is not automatically compounded, a new delegation is required.
Can I lose potential staking rewards?
Your potential rewards depend on validator performance. If a validator misses more than 99% of the last 10,000 blocks, this results in a slashing penalty of 0.01%. There is also a 5% slashing penalty for double signing.
Can my staked HASH be slashed (seized or destroyed)?
Figment insures our clients from slashing and has never had a slashing event.
What is the rate of new issuance (aka "annual inflation") for HASH? How does the token supply change?
The number of minted HASH remains constant, and no new HASH is minted as reward for work. As a result, there is no inflation for HASH.
Do I maintain custody of my HASH tokens? Who or what controls my staked HASH token?
You can self-custody your HASH tokens, ideally using the native Provenance wallet. Figment has partnerships with a number of top-in-class custodians. Please contact [email protected] for more inquiries.
Last modified 5mo ago