[uStake] Opening more community staking on Ontology

UNFI holders now govern an even larger ecosystem, which includes staking!

Unifi Protocol (uStake) is currently operating nodes on multiple blockchains. Unifi nodes are accepting stake from the community and currently offering 100% of the staking rewards to stakers. Some Unifi Protocol nodes require management in order to stay competitive amongst all validators.

Unifi is seeking guidance from UNFI holders regarding the management of the Unifi Protocol node on Ontology.

Ontology Staking

In order to allow community staking, validators on Ontology must stake first stake ONT to their own node. This is known as self-stake. For each ONT self-staked to the node, that node can accept 10x the amount of ONT from the community as stake. Once that capacity is reached, the node cannot accept any more stake.

Currently the Unifi Protocol node has 41,000 self-staked, and is filled to capacity with 410,000 community stake. Unifi is currently offering the best ONT staking rewards on the network, with 100% of the node rewards going to the community.

That is an APY of over 50%!!

Many validators on Ontology do not accept stake from the community, limiting the ability for ONT holders to earn staking rewards. Wherever possible, Unifi Protocol seeks to support its blockchain partners and their communities. Providing community staking as a community service increases the diversity, security, and reliability of blockchain networks. UNFI holders are being asked to contribute guidance by voting to increase the amount of ONT Unifi has self-staked to the Unifi Protocol node on Ontology. This will open more spots for community members to earn 100% rewards. This will not dilute rewards to current stakers.

Community Staking Plan

Staking on the Ontology Network can only be changed at the start of a new round. Rounds last about 7 to 10 days on average. Unifi is proposing to increase the amount of community staking at variable intervals which will coincide with the start of new rounds. This increase is expected to take place over one or more rounds, potentially for multiple rounds into the future.

Yes - Open more community spots on Ontology

No - Do not add any more self-stake on Ontology