Staking and Rewards

1. Staking on Satellite Nodes

Staking on SolSync enables token holders to actively participate in securing the network while earning rewards. The staking system is tied directly to satellite nodes, ensuring that contributions positively impact the network's performance and scalability.

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How Staking Works:

1. Token Locking:

   • Users lock their tokens in a smart contract tied to a specific satellite node.

   • Staked tokens enhance the operational capacity of the node, enabling it to handle higher network traffic.

2. Reward Distribution:

   • Rewards are distributed based on:

     • Node Activity: Nodes with higher uptime and greater processing contribute more to the network, earning more rewards for stakers.

     • Traffic Relayed: Nodes relaying a significant volume of transactions earn proportionally higher rewards.

3. Dynamic APY:

   • The Annual Percentage Yield (APY) is dynamic, influenced by:

     • Network usage.

     • Total tokens staked.

     • Satellite node performance.

4. Unstaking Mechanism:

   • Users can unstake tokens after a fixed lock-up period.

   • A penalty may apply for early unstaking to discourage network disruption.

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Staking Interface:

Users interact with the staking system through an intuitive dashboard that provides:

• Real-Time Metrics:

  • Total tokens staked.

  • Node-specific rewards.

  • Network traffic data.

• APY Projections:

  • An estimate of potential rewards based on current network conditions.

• Staking History:

  • Transaction logs showing staking, reward distribution, and unstaking activities.

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Example API Workflow for Staking:

Step 1: Query available nodes for staking:

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javascriptCopier le codeimport axios from 'axios';

async function getStakableNodes() {
  const response = await axios.get('https://api.solsync.xyz/nodes');
  return response.data; // Returns details about active nodes
}

Step 2: Stake tokens on a selected node:

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javascriptCopier le codeasync function stakeTokens(nodeId, amount, walletAddress) {
  const response = await axios.post('https://api.solsync.xyz/stake', {
    nodeId,
    amount,
    walletAddress,
  });
  return response.data; // Confirms the staking operation
}

Step 3: Fetch staking rewards:

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javascriptCopier le codeasync function getRewards(walletAddress) {
  const response = await axios.get(`https://api.solsync.xyz/rewards?wallet=${walletAddress}`);
  return response.data; // Returns current reward balance
}

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Key Benefits for Stakers:

• Passive Income: Earn tokens as rewards while supporting the network.

• Network Contribution: Staking improves the resilience and scalability of satellite nodes.

• Decentralized Governance: Stakers may gain voting rights for governance decisions, ensuring the network evolves democratically.