Staking ZILs
Can I stake my ZILs via Torch Wallet?
Yes, you can stake your ZILs via Torch Wallet with your choice of SSN.
What are the benefits of staking at Ignite DAO via Torch Wallet?
Staking at Ignite DAO comes with benefits such as receiving discounts on fees for products and services. Also, by choosing Ignite DAO you help grow the treasury. This then will be used to reinvest in the growth of the ecosystem and indirectly helps increase your ZIL value.
Can I stake at multiple SSNs via Torch Wallet?
No, currently there is an enforced limit to stake with one SSN at a given time.
What is an SSN?
A seed node is a Zilliqa full node that does not participate in Zilliqa’s network consensus. The purpose of seed nodes is to serve as a direct access points (for end users and clients) to the core Zilliqa network that (1) validates transactions, (2) consolidate transaction requests and (3) forward these to the lookup nodes (another type of node) for distribution to the shards. Also, SSNs maintain the entire transaction history and the global state of the blockchain, which is needed to provide services (e.g. for block explorers).
How to change your stake to another address? (change stake ownership)
1. Download Zilpay wallet from Zilliqa official website https://www.zilliqa.com/wallets.
2. Open Zilpay wallet, click restore in order to restore the wallet with 12 words seed phrase which you need to export from Atomic wallet.
3. Then go to https://stake.zilliqa.com/
4. Click - sign in for Delegators
5. Click Zilpay to login with Zilpay
6. Once you are logged in, scroll down & look for "staked balance".
7. Scroll to right-hand side, click "Manage" and then click on "Switch nodes" in order to switch nodes from one SSN to Ignite DAO.
8. Then Approve the transaction.
Note - Wallets generally show max transaction as 60 Zil, however actual fees will only be few ZILs.
2. Open Zilpay wallet, click restore in order to restore the wallet with 12 words seed phrase which you need to export from Atomic wallet.
3. Then go to https://stake.zilliqa.com/
4. Click - sign in for Delegators
5. Click Zilpay to login with Zilpay
6. Once you are logged in, scroll down & look for "staked balance".
7. Scroll to right-hand side, click "Manage" and then click on "Switch nodes" in order to switch nodes from one SSN to Ignite DAO.
8. Then Approve the transaction.
Note - Wallets generally show max transaction as 60 Zil, however actual fees will only be few ZILs.
What is the minimum and maximum amount of ZILs I can stake?
You need to stake a minimum amount of 10 ZILs. Currently, there is no limit to the maximum number of ZILs you can stake.
How long does each cycle take?
Each cycle takes 2200 blocks. This estimates to an approximate of 20-25 hours.
