Source : cryptodaily.io
Cryptodaily Admin: Hello everyone!! Welcome back to another AMA with SolanaDaily 🔥I’m Daley and today, I’m joined by Gabriela from stake2earn 🙌
Gabriela: Hi everyone! 😊
Cryptodaily Admin: Good day to you Gabi 😁How are you doing?
Gabriela: Great! So excited for our first AMA for the Solana community!
Cryptodaily Admin: And may there be many more 😂
Gabriela: Yesss 🚀
Cryptodaily Admin: Hey if you’re ready, we can start the AMA right away 👀
Gabriela: Born ready 🙌
Cryptodaily Admin: Nice 🤩 let’s get started with our first question for stake2earn!
Q1: Please introduce stake2earn’s team. What are your past experiences with Blockchains in general? Are you fully public?
Cryptodaily Admin: This is an introductory one so tell us everything about you guys 👀
Gabriela: Stake2earn has been fully public since 2019, when Alex (CEO of stake2earn) started the company with the first validators. Solana was one of these validators. We have been with Solana since testnets and before being even listed on any market. Since then, we managed to reach 12 networks, and there are also some in testnets waiting to go mainnet.
Our team is formed of more technical people, as a staking provider is really important to have good infrastructure and a great technical team behind. For those that want to see also the faces behind our name, we invite them to go to https://stake2earn.com/#team
We have a great team! 😀
Cryptodaily Admin: Oh man, why do we only hear about you now? Seems like you’ve been having tons of exposure in the market, supporting 12 networks now
Gabriela: It might be that because marketing was not our first step. We concentrated more on the technical side and gathering and working with different networks.
Cryptodaily Admin: Ok, building the product first, I like it. So let’s get to know about stake2earn then
Gabriela: Thank you! 😊
Q2: What is stake2earn about? What is the main network that stake2earn focuses on? And why?
Gabriela: Stake2earn is a decentralized and non-custodial staking provider for 12 networks, as mentioned before. We don’t have one network in specific that we focus on, as every project is important for us. We choose only projects that bring technical value and innovate technology, as well as give an end purpose, create a need and solve problems. So, all networks are well chosen. There are moments when each network launches something in particular, so we shift the priorities in order to focus more on the one that has something new on the table. But.. just between us, in our team Solana is the favorite! 😁
Cryptodaily Admin: And we appreciate that 😍 Would you mind listing some of the major networks that you’re supporting at the moment?
Gabriela: Sure: Solana, The Graph, Avalanche, Agoric , Evmos, etc. And the full list is under networks https://stake2earn.com/#networks
Cryptodaily Admin: Thank you 👌 Go to their website and see if there’s any networks of your favorite peeps
Q3: What is the difference between staking with a decentralized validator with stake2earn and other centralized protocols?
Gabriela; This is a really great question. When traveling for the World of Blockchain Summit in Dubai, a few months ago, we encountered many people asking us the same question. This is why we also created a Staking guideline: https://stake2earn.com/staking-guideline. But we will summarize it here too:
Decentralized validators are the ones that run a validator on the blockchain of a specific network and when staking is being done, the delegator ‘sends’ the tokens/coins directly to the blockchain of the network. Also, in decentralization there is no need for KYC (nobody cares who you are and where you live). You are in full control of your coins and you can un-stake the coins/tokens whenever you want. Centralized validators obliged you to create an account. For them, it is important to know who you are. You stake with them on their conditions: there might be a minimum or maximum amount, there might be a certain period of time. And there is no access to your funds after staking is done. You need to wait for the terms you accepted to finish in order to regain access to your funds. And the biggest difference is that centralized validators choose their APR (the rewards % per year you are to receive). In decentralized nodes, just like us, this is decided by the blockchain itself.
Moreover, decentralized validators are the ones securing the blockchain more and more when they are running nodes, so it’s important to go for decentralized validators in general.
Cryptodaily Admin: I can see you have been contributing a lot in these guides as well 🙌 Efforts noticed
Gabriela: We are trying our best! Thank you!
Cryptodaily Admin: Ok, so that’s some of the basic differences between centralized and decentralized staking, what about the differences between staking with stake2earn in comparison to other platforms:
Q4: Why should users choose stake2earn over other decentralized platforms?
Gabriela: We are more than just a place where to stake. We offer people our support, we are trying to be involved as much as possible into educating the communities. We engage a lot, as we know people need someone to talk with before making any decision, they need to know all the advantages, the disadvantages, the risks.. This is something that very few staking providers are doing. Besides this, the technical infrastructure behind all our validators is high, everything being kept updated and secured. And the quality can be seen on the networks list; all these networks are since testnets, this means that each network chose us to participate in the mainnet. And don’t forget .. we are fully decentralized and non-custodial. You don’t send us your coins, we help you to stake directly on networks’ blockchain. We are like a bridge 🙂
Cryptodaily Admin: There are various articles on guiding people how to stake with stake2earn with each network that you collaborate with as well
Gabriela: Yes we actually redesigned our Blog section on our website to be easier for people to find the tutorials based on the network they stake with us
Cryptodaily Admin: Also, you talked about being secured and updated frequently, given the expertise of each member in the team. But, security cannot be overstated, so my next question is about that:
Q5: Is stake2earn secured? Are you audited by any third parties? Is there a bug bounty program?
Gabriela: Stake2earn is secured through the high quality of the infrastructure used for each validator. Having each network updated is important also because otherwise the rewards could stop for our delegators, or even worse if the validator itself goes offline, it may lead to slashing. Slashing is bad for everyone: the image of the validator in front of his delegators, the fact that everyone is penalized for this. (a certain % is being deducted from the validator itself and the delegators). So infrastructure and security are important for us as well
However, the staking service is provided through us, with the help of our nodes and validators via accessing a decentralized wallet such as (Phantom or Solflare). Regarding the audited part, as we are fully decentralized, the tokens that a delegators stake with us are going to the blockchain itself which is audited of course. This is why we don’t have to be audited, or run any bug bounty programs. So, people that want to stake with us Solana, for example, they still need to use Phantom Wallet for example or Solflare. They just need to choose from the validator list, stake2earn as a validator.
Cryptodaily Admin: Ah I see. Well then marketing is quite crucial if that’s true, we need to get more people informed about stake2earn to pick you guys from the list. And let’s talk about that in later questions! For now, since stake2earn is decentralized
Q6: Is there a minimum staking amount required by stake2earn? Do we need to know about any other conditions to about staking solana on stake2earn?
Gabriela: There is no condition set by us. You can stake as minimum as is in your advantage. We won’t recommend people to stake 1$ and pay gas fees 10$, as it is not worth it for them. However, in the end it is everyone’s choice and technically they can do it. The only thing that we apply is a staking fee (commission), as we also need to maintain a high-quality infrastructure and team. For example, for Solana, it is right now 10%. This is deducted from the reward of the delegator and not from the initial staked amount. And this can get smaller if we notice the delegation amount increasing.
Cryptodaily Admin: Would you say your fee is competitive to other platforms?
Gabriela: For Solana, right now the fee is set to be similar with other decentralized validators as this was discussed a few months ago and agreed between decentralized validators.
Cryptodaily Admin: Thank you for explaining! Ok, I think it’s time we discuss about how to pick stake2earn as a validator
Q7: There are obviously a wide range of validators offered by stake2earn across different projects/blockchains. How do users pick a validator to stake?
Gabriela: Users stake with us the tokens that we support. For example, people that own Solana and they haven’t staked them yet, they can stake with us now. We don’t recommend people buying specific tokens or coins. Our service is dedicated only to people that already own the coins we support. If we talk in general about picking a validator to stake, users should take into account:
up time of the validator
the commission rate
the team behind the validator
Cryptodaily Admin: Earlier on the AMA, you talked about supporting 12 networks, you even named some of them
Q8: what networks will stake2earn about to support in the future?
Gabriela: Right now we support:
• Solan network
• The Graph
• Regen Network
And in the future we are planning to add more networks too. So stayed tuned for the news in our Telegram group (https://t.me/stake2earn) and Twitter (https://twitter.com/stake2earn)
Q9: What’s in development now and will be released shortly?
Cryptodaily Admin: We do have some networks in testnets right now, we are waiting to reach the mainnet too. An example would be Axelar Network.
Q10: How can we join stake2earn?
Gabriela: Very simple. If you already have one of the tokens mentioned above, start staking today! We would be more than happy to become your staking provider. 🌜
Cryptodaily Admin: You heard her! If you have any spare SOL with no intention to sell, try stake2earn! Of course, no financial advices 😂
Cryptodaily Admin: With this we are now at the end of our AMA session with stake2earn🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community?
Gabriela: Thank you all for all the questions received, we will try to collect them and answer all via a Medium article. Meanwhile! For us every stake counts! So don’t forget to stake to us 🌜
Cryptodaily Admin: Thank you Gabi for coming on and talking about stake2earn!!! We hope you and the team all the best and may you become the best validators across different networks! Take care 💪