How-To Stake Guide
Read this guide in its entirety before beginning the EWT staking process
Last updated
Read this guide in its entirety before beginning the EWT staking process
Last updated
Beware of scams - always check that you are on one of the official staking pages (https://stake-ewt.io/ or https://consortia-stake-ewt.io/) and make sure you are interacting with the official smart contract 0x3Bd4D48D022ACA4C3FC1Fe673CF4741D5888bcc7 (you can give the contract an alias in Metamask, example: EWT-STAKING)
Before you continue, read this
Read this guide in its entirety before beginning the EWT staking process. If you carefully follow all of the steps and still encounter a problem, please visit the dedicated Discord channel and describe your issue. Over the course of following this guide, you will add a “role” to your EW Chain wallet that authorises it to stake - you can learn more about how roles are assigned and used to govern permissions for wallets here.
You will only be able to stake using the wallet that you used in the authorization process.
Be mindful of which wallet you have selected in MetaMask, and that your MetaMask is connected to the Energy Web Chain network.
Also, please note, we only recommend running through this process using your desktop browser at this time (we do NOT recommend using mobile wallets/browsers).
In crypto, staking is best known for its role in consensus mechanisms for public blockchains (e.g. Ethereum 2.0's Proof-of-Stake, Polkadot’s Nominated Proof-of-Stake) but it is not limited to this use-case.
Staking EWT on EW Chain supports Decentralised Software-as-a-Service (dSaaS) provisioning on the Utility Layer of the Energy Web technology stack. You can learn all about this in the dSLA lightpaper, but in short, authorised members of the EW community (“Patrons”) stake their EWT to support Service Providers (“Providers”) who operate nodes to deliver Utility Layer services. When a Provider delivers fast, stable, and secure Utility Layer services, both the Provider and their Patrons are rewarded. Providers who are unreliable or fail to meet the Utility Layer performance standards will lose Patron support and/or face penalties.
The primary objective of the initial phase of EWT Staking is to test and validate the unique form of token staking governed by role-based authentication with Decentralised Identifiers (DID).
Accordingly, there are no formal penalties Providers or Patrons currently and staked EWT will not be slashed due to Provider performance.