We are pleased to announce the next phase of Noether’s PoS system: Staking Delegation on Ropsten Testnet.
Staking Delegation allows CTSI holders to stake their tokens on staking pools managed by third parties. This aims to dramatically increase the participation rate of users and tokens on the network, providing better security for the Noether Sidechain when fully implemented.
Node runner individuals and institutions will be able to easily set up their nodes and manage their pools, contributing to the network’s decentralization while earning rewards for the work provided.
Meanwhile, Cartesi token holders will freely select their preferred pools to delegate their CTSI and receive compounded rewards easily.
To ensure a smooth rollout of the staking delegation, we immediately implemented the system on the testnet. Once the public testing phase is complete, the Cartesi team will move the system to Mainnet.
The Benefits of Cartesi Staking Delegation
Staking delegation offers benefits to both users and node runners, who can become pool managers. For testnet purposes, we are using a preview version of the Cartesi Explorer found here.
Benefits for Users
CTSI holders do not need to set up and manage node software or rely on custodial services to stake their CTSI. In addition, the user’s principal is secured by smart contracts and cannot be lost or mismanaged by node runners or pools.
With Cartesi’s staking delegation, users also benefit from a native compounding feature that automatically re-stakes all token rewards.
Staking your CTSI is easy and grants you rewards if you help secure the network and launch/bootstrapping Noether, Cartesi’s data availability sidechain. Instructions for CTSI staking are described in this article.