How-to Stake FRA with DK Validator
Introducing our Findora validator
We’re excited to announce the start of our multi-chain journey with the commissioning of our DK Validator node on the Findora network.
You can now stake your FRA with DK Validator and receive block rewards.
What is Findora?
Founded in 2017, Findora is a hybrid UTXO / Account Model based blockchain network focusing on privacy using zero-knowledge proof cryptography (ZKP).
The network architecture consists of two blockchains and bridges:
Findora Native Chain — A UTXO based blockchain with built in privacy features that allow the sender to hide amounts and/or asset types. The Native Chain is used for staking/delegating FRA and can also be used to create UTXO based assets.
Findora Smart Chain — A fully Ethereum Virtual Machine (EVM) compatible smart contract platform allows the deployment of dApps utilising all the development tooling available to Ethereum developers. Smart Chain user’s have a similar experience to other EVM chains utilising the leading MetaMask wallet and it’s supported hardware wallets such as Ledger and Trezor.
Prism — The Findora Native Chain / Smart Chain bridge allows users to send assets between the two blockchains. Prism is built into the Findora desktop and mobile wallets.
Rialto — Named after the famous Venetian bridge; Rialto is Findora’s EVM chain bridge. Currently, Rialto supports the bridging of Binance Smart Chain assets to/from Findora Smart Chain, with other EVM chains such as Polygon planned for future releases.
Findora Tokenomics
Findora uses FRA as it’s native cryptocurrency for consensus (staking/delegation and block rewards), governance and transaction fees.
FRA has a maximum supply of 21 billion, with a circulating supply of 4.6 billion as of June 2022.
Currently, transactions fees are set at 0.01 FRA. Dynamic transaction fees could be considered in the future with fees being paid to validators.
Further details of Findora’s tokenomics can be found here.
Findora Wallets
The two separate chains (Native Chain and Smart Chain) have their own wallets.
Metamask
As a dApp user and to transfer tokens on to the chain you’re going to need an Ethereum compatible wallet that allows you to configure the Findora network. For this, we recommend MetaMask.
You’ll need to setup the Findora network with the following settings:
RPC URL: https://prod-mainnet.prod.findora.org:8545
Chain ID: 2152
Currency Symbol: FRA
Block Explorer URL: https://prod-mainnet01-blockscout.prod.findora.org/
Findora Wallet
To stake and store / transfer assets on the Native Chain you’ll need the Findora Wallet. The Findora Wallet is available for desktop (Windows / Mac) and mobile (iOS / Andriod).
Where to buy FRA
FRA is available to trade on Gate.io and Kucion crypto exchanges.
You can also bridge assets from Binance Smart Chain such as BNB and BUSD using Rialto and swap for FRA on Findora’s native Fairy Swap DEX.
How to stake FRA
Staking/delegating Findora’s native FRA token is done on the Native Chain, which means to start you’ll need the Findora Wallet.
To get your FRA on to the Native Chain you may need to transfer it over from the Smart Chain first using Prism. This is done inside the Findora Wallet:
Using Prism
- Click the arrow until the direction is pointing from EVM to Native Wallet.
- Click on select wallet, then “Add” to add your MetaMask wallet. Adding a wallet will require you to paste in your private key from MetaMask. We recommend creating a second account in MetaMask to use as an intermediary to add to the Native Wallet for better security, so you don’t need to paste your main wallet private key here.
- Once the EVM-Compatible wallet is created and selected you add the Native Wallet address you want to send funds to. Clicking Address will allow you to select an address you have setup in the wallet, or you could paste in a different native address.
- Finally select the amount and click next to initiate the transaction. Once the transaction has completed the FRA will be available in your chosen Native Wallet account.
Staking FRA
Stake, unstake and claim rewards from the Staking section in the Findora Wallet.
To stake, hit the STAKE button then select a validator from the list and enter an amount to stake:
The 1% Rate you see above is the validator’s commission fee rate and is deducted from rewards. Click the “View” link to see more information about the validator.
Things to note:
- There is a 21 day unbonding period (21 days is approximate based on 113400 blocks) for undelegating your stake. You won’t be earning rewards or able to access your unbonding FRA during this period.
- Validators are punished by slashing for poor uptime and double signing. Slashing takes a percentage of the staked FRA belonging to the validator and it’s delegators.. so it is important to choose a validator you can trust.
As always, feel free to reach out to us with any questions. Check out our Linktree for contact links and more information.
DK Validator is a UK based non-custodial crypto staking service provider.
