In the Blockchain world, staking is the act of locking up one's coins or tokens.
What is it for ?
The Arianee project requests Brands and third parties to stake in order to complete their Know Your Business (KYB) process.
Staking is a demonstration of good faith and a testimony of a Brand or third party’s commitment and engagement in the Arianee protocol.
First, the staking entity needs some Aria because stakes are accounted for in Aria (the currency of the Arianee protocol). To learn more about the ARIA token and how to buy some, please refer to the Arianee Economy chapter.
Second, staking Aria consists of sending them to the Arianee staking smart contract. To learn more about smart contracts, please refer to the Arianee Decentralized Platform chapter.
Multiple options are available for this second step, depending on the technical level of the staking entity:
- Outsourcing to the Arianee project team ([email protected]) or another third party.
- Using a compatible software such as the Brand data hub.
- In-house by developers with the ArianeeJS library or at the smart contract level.
The stakes the Arianee project requests from Brands and third parties to complete their Know Your Business (KYB) process are defined in fiat currency (USD) payable only in Aria. The price in Aria is adjusted every day by Oracles based on the Day-1 8:00pm CEST Aria/USD exchange rate.
The amount requested depends on the number of employees of the staking entity:
- 1 000 USD : less than 10 employees.
- 5 000 USD : 10 to 49 employees.
- 25 000 USD : 50 to 499 employees.
- 50 000 USD : 500 to 4 999 employees.
- 100 000 USD : more than 5 000 employees.
- Automatic transactions : no automatic transaction is set in the Arianee staking smart contract. Stakes are transferred to and transferred out of the Arianee staking smart contract on demand.
- Lock-up : no lock-up period or policy is set in the Arianee staking smart contract. Stakes can be cashed out at any moment by staking entities.
- Bad / good leaver clauses : none as of today.
Staking return & fees
Fees may apply if the staking entity outsources to a third party or uses an external software to stake.
There is no fee (such as entrance, management, performance or exit fees) implemented on the Arianee staking smart contract.
There is no return on Aria staked (such as dividend) implemented on the Arianee staking smart contract. However, the value in fiat currency (USD) of Aria staked by a staking entity changes with the evolution of the ARIA/USD exchange rate, just like Aria on any other wallet.
Staking activity on the Arianee staking smart contract is public and can be tracked globally or at the public key level.