Staking and Rewards
Staking and Rewards process
To become a masternode, a user must apply as a candidate. A fee of 50,000 KLV will be charged and burned in the masternode application processes. The masternode candidate on Klever Finance Blockchain must hold a minimum of 1,500,000 KLV in self-staking to be considered active. To become an eligible masternode for the consensus and produce blocks, the node must reach the threshold of 10,000,000 KLV through self-staking plus delegated-staking. The masternode owner can also specify if it will allow delegated-staking and its delegation cap.
- If for any reason the masternode delegation goes below the threshold, the masternode becomes inactive and will be added to the waiting list until the threshold is reached again.
- If a node doesn't have a minimum of 1,5M KLV in self-staking, it will not participate in any staking or earns
- The minimum self-staking of 1,500,000 KLV can only be retrieved if the masternode cancels the application and there is no delegation-stake in process
- The 1,5M self-staked KLV will be blocked and only available if the owner decides to destroy the masternode
- If a master node is below 10M KLV staking, it will not be a producer, but it will be allowed to participate in the staking pool
- A masternode can choose to have an open or closed delegated pool as well to cap the max amount of delegated votes
- The delegation cap can be increased at any time, but only reduced to the current staked amount.
- Masternodes can set a commission fee for the delegated staking on their node (if the pool is open)
Masternodes earn block confirmation rewards when transactions are confirmed by their blockchain nodes. The block reward flowback is set initially to 50% of fee paid by users. The additional 50% of fees will be burned to control inflation and maintain a healthy network interoperability. An additional amount of 15 KLV will be added to the block rewards. Both the fees and the block rewards will be distributed proportionally to the staked amount of each wallet. All staked amounts bound to masternodes (eligible or not) will participate in a rewards pool of 500,000 KLV daily, proportional to the staked amount of each wallet.
- Masternode owners can set a commission fee for the delegated-staking on their node.
- All rewards are added to a claimable balance in the wallet and must be claimed by the wallet owner to be made available.
- All parameters can be adjusted by on-chain proposals
- All rewards are claimable and must be claimed by the owner wallet
- 50% of the fees are burnt and 50% are distributed to the masternodes that produced blocks
When creating an application on the blockchain, the developer can use their developer code(Referral code) within their k-app transactions to receive rewards (each k-app will have a percentage of the transaction fee). The reward will be paid in the currency in which the kApp transaction is provided.