AKASH: Staking and Delegating AKT

AKASH Primer

The foundational design objective of the Akash Network is to maintain a low barrier to entry for providers while at the same time ensuring that clients can trust the resources that the platform offers them. The system requires a publicly-verifiable record of transactions within the network to achieve this. To that end, the Akash Network is implemented using blockchain technologies to reach consensus on a distributed database’s integrity.

Why Stake with Figment?

EXPERIENCED & TRUSTED

  • Figment is a venture funded, registered Canadian company based in Toronto. Canada offers stability, rule of law, and clear crypto regulation.
  • Servicing the world’s largest AKT holders.
  • 30+ years of experience successfully scaling internet infrastructure companies.

FEATURES & BENEFITS

  • 5% commission rate to our AKT delegators.
  • Figment Prime & discounts available for large AKT holders. Contact us for more information.
  • Active participant in the AKASH ecosystem.

SECURITY & SAFETY

  • The world’s most advanced physical IDC + multi-cloud staking infrastructure.
  • You maintain the custody of your AKT at all times.
  • Third-party custody solutions are available through our institutional partners. Contact us for more information.

COMPLIANCE

Akash Token

Akash’s token, AKT, is primarily used for three things: staking, lease settlement, and acting as a unit of measure for pricing all the currencies supported by the marketplace. Akash referred to this as Resolve, Reward, and Reserve.

AKASH supported Wallets

Akash supports two staking wallets Cosmostation and Keplr. In this walkthrough, we’ll be using Keplr.

Ready to Stake?

If you don’t already, install the Keplr wallet extension onto your browser. After installation, once you click on the K in your extension bar, it will open a page that looks like the one above. Follow the steps to make a new wallet or reactivate one that you already have.

Calculate Rewards for Stakers

Let’s go through some scenarios to calculate rewards if you delegated 1,000 AKT, with a 5% commission rate. This is subject to change depending on inflation, and rewards are reported in Akash tokens (AKT).

Frequently Asked Questions

When are staking rewards enabled? When are transfers enabled?

Both are enabled.

What is the name of the asset being staked?

Akash’s native token, AKT, is used to stake and to participate in on-chain governance.

Which type(s) and what rate of rewards can I expect?

~56% yearly in AKT tokens.

Do I maintain custody of my AKT tokens? Who or what controls my staked AKT token?

You can self-custody your Akash AKT tokens, ideally using a Ledger hardware wallet.

How long does it take to unstake?

21 days

Can my staked AKT be slashed (seized or destroyed)?

0.01% slash for ~16.5 hours downtime; 5% slash for equivocation.

  • If you delegate to a validator that is offline for over 16.5 hours (assuming 6.25s blocktimes), you will lose 0.01% of the tokens you have delegated to that validator.
  • If you delegate to a validator that signs the same block twice with the same key, you will lose 5% of the tokens you have delegated to that validator.

What is the rate of new issuance (aka “annual inflation”) for AKT? How does the token supply change?

Akash is reporting 49.9% inflation, but the average blocktime changes the effective new issuance.

How are decisions about the Akash network made and executed?

On-chain governance via a token-weighted vote.

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