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Aptos Introduces Delegated Staking to Increase Participation in Staking on Network
The new feature will allow users to reap staking rewards without requiring them to serve as validators for the blockchain’s transactions.
Updated Apr 21, 2023, 7:44 p.m. Published Apr 21, 2023, 7:40 p.m.
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Layer 1 blockchain Aptos has introduced a feature that aims to make staking on its network more accessible, according to a Thursday blog post.
The new offering, delegated staking, allows users to earn staking rewards without running nodes themselves. It also lowers the amount of the blockchain’s native token, aptos (APT), needed to participate in staking. Now users will only need 11 APT, worth roughly $117 at publication time, to stake their tokens with the blockchain.
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“Delegated staking ensures that token holders continue to hold ownership of their APT in their own wallets, and do not have to resort to off-chain methods of funds aggregation,” the blog reads.
With delegated staking, users can enlist the help of a trusted validator to stake for them. In this way, token holders profit from locking up their crypto for predetermined periods of time without needing to obtain special hardware or pay a fee to run code to verify blockchain transactions.
Participants can stake APT directly in the Aptos Explorer or choose from staking interfaces created by the blockchain’s partners, such as Pontem Network and Nodes Guru.
APT is trading at $10.65, down 2% from its price 24 hours ago, according to CoinGeck data.
Read More: Aptos Jumps 8% Ahead of $50M Token Unlock
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