Staking on Zilliqa is very easy and has been designed for the masses instead of technically minded individuals. Staking non-custodially allows users to keep their tokens safe and secure off exchanges, this lowers the chances of hacks and losing your tokens on exchanges.
Staking non-custodially also takes the power off exchanges, by removing tokens from exchange supplies this in-turn is making $ZIL more valuable.
Check out the links below for information on where to stake your Zilliqa non-custodially.
Staking rewards are handed out at the same time no matter what provider you choose. Currently rewards are handed out every 1,800 blocks, which is estimated to be between 24-26 hours.
When you first stake your $ZIL you will enter a buffer first and start receiving $ZIL in the next cycle, so you may not receive any rewards for 2 cycles (48-52 hours) depending on the time you stake.
Stakers can change their staking provider at any point but will be added to the next cycle.
So, if you change providers from Zilliqa to Zillacracy you will miss one reward cycle, with your coins being added to the “Buffered status” on the smart contract.
Buffered coins are simply waiting to be added to the next cycle.
Seed node providers charge a commission fee for their servicing in non-custodially staking. The commission fee helps maintain the service and provide funds for future developments.
Zillacracy actively uses funds raised via commission fees to help grow the Zilliqa ecosystem if it’s by developer tools and workshops, community initiatives and funding amazing projects.
The fee’s charged comes directly off your rewards and have no effect on the coins you have deposited for staking.
gZIL is the governance token on the Zilliqa blockchain, users can use the token to vote on different consensus’s and suggest ideas to the Zilliqa community. You will receive gZILs when you claim your staking rewards to a ratio of 0.001 gZIL per 1 $ZIL in rewards.
The token itself has its own platform and can be found here.
The gZIL token is only available to non-custodial stakers and is limited to the first year of staking. The full amount of gZIL will be fully distributed by October 2021 with all 722,000 tokens being in circulation.