Skale

What is Skale?

SKALE Network is a Layer-2 scaling solution on the Ethereum network which alleviates congestion on the Ethereum mainnet by shifting development away from the main chain to adjacent sidechains managed by SKALE.

These sidechains known as "Elastic Sidechain Networks" offer a reliable, high-throughput, and cost-effective environment for deploying decentralized applications (dApps). Each dApp utilizes its own independent SKALE blockchain to operate efficiently.

SKALE's infrastructure significantly boosts transaction throughput on Ethereum while minimizing latency. This enhancement empowers Ethereum-based dApps to rival Web2 applications in terms of both cost efficiency and throughput, thereby enhancing their overall performance.

Developers engage with the SKALE ecosystem by paying with SKL, the native utility token, for the creation of these blockchains. Additionally, SKL tokens play a crucial role in SKALE staking and platform governance.

What is SKALE staking?

Staking is a great way for long-term crypto investors to earn passive income on their Proof-of-Stake cryptocurrency assets (such as SKL) while taking part in securing the network.

Stakers, by delegating tokens to validators, give voting rights to these to validate transactions on the blockchain and propose new blocks. The more stake is attributed to a validator, the more it will be able to take part in the network consensus and earn rewards for its stakers.

A quick example: Suppose a blockchain network offers a 5% reward rate for a staking period of 1 year (5% APR). You decide to lock up and stake 100 tokens on the network. After a year, you can access your staked tokens, and you receive 5 additional tokens as your reward – minus eventual fees charged by the staking provider.

Staking Proof-of-Stake (PoS) cryptocurrencies such as SKL does not require stakers to transfer their tokens to validators. It is a non-custodial process.

Why is Stakin a great choice for SKALE staking?

Staking your assets on your own is operationally challenging as it requires specialist expertise to set up nodes and ensure constant uptime to maximize rewards or prevent so-called slashing: partial loss of your staked cryptocurrencies due to prolonged downtime, or inappropriate/malicious behavior by the node operator.

Stakin is an excellent choice for staking your SKALE (SKL) tokens, as we have a strong expertise and track record of reliable operations on this network. Stakin is already operating three SKALE nodes on Mainnet, including one public node. We have been an early Skale validator partner since April 2020, and also a participant in Fuji and Kilimanjaro test networks. More than 60 million SKL have already been staked to Stakin.

There are several advantages when staking your SKALE (SKL) tokens with Stakin, such as:

• Triple AAA-rated institutional staking provider by Staking Rewards

• ISO 27001-certified staking provider

• Tracking dashboard, to easily track and generate reports for the performance of your staked assets

• Reliable infrastructure - We distribute our servers across various geographical locations and partner with premier bare metal and cloud providers

• Dedicated support for all your staking, unstaking, and network-related questions

• Institutional grade SLAs with uptime and slashing guarantees

What kind of institutional services does Stakin offer for Skale (SKL) Staking?

As an institutional-grade Skale (SKL) node operator, Stakin has a full range of staking services and advantages to cater to the needs of enterprises and investors, such as asset managers, company treasuries, exchanges, VCs and hedge funds, wallets, custodians, and liquid staking services.

• Institutional grade SLAs with 99%+ uptime guarantees and slashing guarantees

• Possibility to stake via WalletConnect through any custodian that supports this integration

• Dedicated Account Manager to answer all your technical and commercial questions

• Enhanced yield with dedicated nodes and validators

• 24/7 monitoring and alerting

• Free premium access to Stakin Dashboard which includes staking data visualization across any validator, and premium historical data features (on selected networks)