Get Started with Staking
Get started by walking through our in-depth documentations and guides on how to get started with staking by becoming a node on the Hydra network.Get Started
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HYDRA is a proof of stake blockchain network. Staking is a critical activity for the maintenance of the blockchain. The more nodes are online, the better it is for the health of the chain, as it increases redundancy and at the same time strengthens the protective shield against attacks.
Here are few of the advantages of Staking
HYDRA has a unique staking economy which guarantees fixed income to the stakers. Every block yields a pre-defined block reward, which can be adjusted by distributed governance proposals & subsequent on-chain votes. The more HYDRA you stake, the more frequent you will mine blocks. If the number of stakers decreases, then this will immediately increase the staking yield and therefore incentivize the deployment of new nodes by new stakers.
HYDRA has a reliable and attractive staking economy. If the transactional economy is small, fixed block rewards will dominate during the growth phase and incentivize nodes to keep the network running. If the transactional economy is strong, deflation will kick in, and the supply will start shrinking.
Block rewards consist of two main pillars: Transaction fees and new HYDRA issued by the blockchain. Their share can be adjusted by democratic votes on the decentralized governance protocol.
Every transaction on the HYDRA chain requires a transaction fee. The fee policy is regularly voted on by coin holders and the result of these votes is binding for all network participants. This way the transactional economy on the chain can be steered by the network owners.View Details
As a second layer of revenue, the chain is rewarding block validators with newly minted HYDRA coins. This means that even in the case of 0 transactions on-chain, stakers will still be able to rely on an attractive APY.View Details
Hydra is based on the UTXO model, which means that wallet balances consist of the combined value of all UTXOs stored in it. Having multiple UTXOs gives you the ability to perform parallel operations, particularly because of the independence each such UTXO carries. Understanding how the UTXO model works can help you optimize your staking rewards.More Info