- Summary:
- Ankr has launched a reward scheme to incentivize staking on the platform. We tell you what’s in it for users and why this is important.
Ankr, the Web3 infrastructure provider has unveiled an innovative application of staking to a variety of Ankr Network node providers. Users of Web3 can now earn a part of the fees that node operators receive from accessing blockchains by staking their nodes on the the network. This is a first in the world for Web3 users. Therefore, it will likely attract substantial user interest in the network.
Why rewarding staking is good for Ankr Network
The Ankr Network connects a global network of operators. These operators run corporate grade nodes with Web3 developers, dApps, and businesses to support cryptocurrency transactions. This infrastructure technology helps blockchain networks run quicker and more reliably. As a result of this move, it has become the largest decentralized infrastructure supplier in the industry.
Currently, Ankr is the only decentralized infrastructure supplier capable of serving big corporations. As a result of its extensive geographic coverage, the Ankr Network is able to achieve exceptionally low latency for local traffic. In addition, this makes it possible for the free market to exert some influence over the physical locations of the nodes.
Node providers must deposit 100,000 $ANKR into their nodes as an insurance deposit in order to service RPC traffic on the Ankr Network. Staking is critical to the seamless operation of the network. This is because it guarantees that node providers adhere to performance criteria at all times. Because of this, it is possible for developers to get extremely fast and trustworthy RPC returns.
Token holders will have the opportunity to stake their ANKR in order to back the nodes of particular node providers on its network. This will allow token holders to show their support for individual node providers. All network node providers receive ANKR tokens for every request they handle. 70% of the rewards paid out to the network’s independent nodes will go to the node itself.
The individual stakers’ staking insurance pool accounts for 49% of this, while the node providers’ self-stake pool accounts for 51%. Finally, 30% of the earnings will go to Ankr Treasury, which is owned by Ankr DAO.