Staking FAQ

Where do I go to stake my VDA?

Staking will occur via the ​​Verida Network Staking Interface which is available at pools.verida.network.

Is there a staking tutorial?

There is no formal tutorial accompanying the Verida Staking Interface, but users will find the process intuitive. Questions can be directed to the Verida Discord if particular problems are identified.

What are the staking tokenomics for stakers?

The overall token economic system for individual stakers is discussed in this document introducing the staking program and explaining its benefits for Verida ecosystem participants.

As described, Verida will initially offer three staking and liquidity provisioning opportunities. Verida’s Incentivized LP Pool will allow members to contribute equal amounts of both VDA Tokens and USDT, and to receive both regular trading fees that would accrue to any LP, as well as additional bonus rewards sponsored by the Verida Foundation. The planned yield for this program is 20%.

Additional fixed return staking pools will also be available, with a pool with a single-sided, compounding VDA pool with a 90 day token lock offering a 18.05% APY. A second single-sided, compounding pool with a 30 day lock is offering a 14.11% APY.

Additional staking pools are likely to be introduced in the 20-40 days after the VDA Token listing, and additional information will be provided in a timely manner.

How can I monitor how many rewards I received so far?

The ​Verida Network Staking Interface will allow users to monitor their staking allocations and the rewards they have earned.

Is there a minimum VDA amount required to stake?

There is no minimum amount of VDA needed to stake at this time.

Where can I buy more VDA to stake additional tokens?

Verida is able to be purchased on a number of centralized and decentralized exchanges, in some cases subject to restrictions based on residency . Options include Gate.io, MEXC, Uniswap, and Quickswap.

Is there a limit to the amount of VDA that can be staked?

There is no limit to the number of VDA an individual user can stake. That said, the individual pools may have limits on the overall number of VDA that can be contributed. thus it is possible that a user may fund themselves unable to stake their desired amount into a particular pool.

How many VDA will I get for staking?

The token economic system for individual stakers can be seen in The ​Verida Network Staking Interface.

As described in the announcement cited above, during an initial period of operations, the Verida Foundation will operate the entirety of the network’s nodes while final technical upgrades are implemented and tested. During this period, an expanded set of decentralized nodes will gradually be incorporated into the network.

To encourage Verida tokenholders to familiarize themselves with the staking process during this initial period when nodes are operated by the Verida Foundation, all VDA Token rewards that would normally be used to compensate node operators will be returned to VDA holders who stake their tokens. During this period, the exact reward per individual VDA staker or per individual VDA Token that is stake will be a function of how many users stake and make a claim on the allocated pool of VDA Tokens.

Are my funds safe when I stake?

Some amount of smart contract risk always exists when staking, and there is never a complete guarantee of 100% safety while staking. That said, the staking contracts Verida is using are well audited and have been successfully used by a number of projects without incident.

How much does it cost to stake?

Staking via the Verida Network Staking Interface has no costs to the user. Behind the scenes the transactions do occur regular Polygon gas costs, but these costs are abstracted and handled by the staking interface.

How long does it take to stake?

Staking is a rapid process when users employ the Verida staking contract. Specifically, connecting a wallet and indicating the amount a user would like to stake is a straightforward process.

If I staked then deposited more in an address is it necessary to restake?

Yes, VDA that is newly deposited into a user’s wallet will not be automatically staked. As such, the user would need to stake the incremental amount manually.

Is there a required lock up period to stake?

Yes. Different staking options will have different lock up periods. The specific period for each pool is displayed alongside the pools, and is visible again as part of the staking process.

Can I unstake when I want?

Locking periods for different staking pools will vary, with each pool clearly indicating the required staking period. Note that once a pool’s minimum staking period has passed, tokens will be free to be unstaked, but can also be left in a staking pool in order to continue to earn any rewards the pool may offer.

When are the staking rewards paid?

Staking rewards are paid from specific pools once that pool’s lock up period has passed. As an example, joining a pool with a 90 day duration and a 30 day lock up would see a user able to unstake tokens and withdraw funds after day 30.

It is also possible to claim rewards without unstaking once the initial lock up has passed. In the above example, the user would be able to claim and withdraw their rewards after 30 days. A user also has the option to remain in a pool for an additional period stipulated by that pool’s lock up period, and is able to do so even if rewards are claimed for an initial period.