Story(IP)

Validators

Mainnet

Name	Address
Kiln	0x08629caABb138194272F952a1488879539472A11
Validator Addr.	storyvaloper1pp3fe24mzwqegfe0j54pfzy8j5u5w2s3vpkfr8

Overview

Metric	Description
Stake activation time	Instant
Auto-compounding	No
Minimum Stake	1024 IP
Unbonding time/Lockup period	14-day unlock period for all staking token types(locked or unlocked). During the unbonding period, the delegator/validator will not earn block rewards. But they may still be slashed.
Rewards frequency	The reward is accumulated per block and can be distributed per block. However, it will only be automatically distributed to the delegator’s account when it is larger than a threshold. The default and also minimal threshold is 8 IP, which means that only if the delegator’s reward is more than 8 IP, it will be sent to the delegator’s account
Active set	Yes, currently the top 64. Kilns validator will be in the active(bonded) set
Slashing	Yes - slashing will be implemented from mainnet launch

Staking workflow

How does staking work?	For every block, a fixed proportion of token inflation will go to the rewards distribution pool, which will be shared among all 64* active validators according to each of their share weights. These allocated tokens will then be shared among the validator and its delegators in a fashion described by the next section. The validator share weight is calculated based on the total token staking amount, and whether or not the token staking type is locked or unlocked.
What is the staking process?	To start earning rewards, you will need to add your stake to the validator run by Kiln. If a fixed period is chosen, a delegation id will be returned to the users. Users must use this delegation id to unstake tokens from this stake operation. If flexible staking is chosen, the returned delegation id will be 0. The staking amount needs to be larger than a threshold, which is 1024 IP.
Do funds move out to another wallet?	No
Can I keep staking/unstaking from/to the same wallet?	Yes, However, the redelegated tokens are still subject to the unbonding process(14 days)
Can I select how much of my wallet balance I want to stake?	Yes, you select the amount of tokens you want to stake to earn rewards.
Can I unstake a portion of my stake?	Partial unstake of a delegation is supported. For example, if a 1-year long delegation has 1 million tokens, after 1 year, users can unstake 500k from this delegation and keep the remaining staked to continue earning rewards.
Whats the difference between Locked v Unlocked Tokens?	Unlocked tokens have no restrictions imposed on them and can be used for gas consumption, transfers, and staking. Unlike unlocked tokens, locked tokens cannot be transferred or traded and are unlocked based on an unlock schedule. However, locked tokens may be staked to earn staking rewards, with the locked staking reward rate being half of that of unlocked tokens. Staked locked and unlocked tokens have the same voting power. That means that a validator with 100 staked locked tokens has the same network voting power as a validator with 100 staked unlocked tokens. Delegators can decide how flexible and how long they want to stake their tokens. By default, for both locked and unlocked tokens, delegators can stake and then unstake immediately and get their token back after the unbonding time. This is called ‘Flexible Staking’. Both types of tokens can be slashed if their validators get slashed.
How do I unstake?	When staking without a staking period, users can unstake anytime. The tokens will be distributed to the user’s account after the unbonding time. A fee of 1 IP will be charged for unstaking to prevent spamming. The fee will be burnt by the contract. The minimum unstaking amount is 1024 IP. After the unstaking request is processed, if the remaining staked amount is less than 1024 IP, the remaining part will also be unstaked together. The unstaking request will first go through the unbonding process, which is 14 days. After that, the unbonded requests are sent to a withdrawal queue, distributing a maximum of 32 withdrawals per block. If there are more than 32 withdrawal requests in the withdrawal queue, the next 32 withdrawal requests will be processed in the next block.
What is the slashing risk on Story?	Validators must act honestly and perform well; otherwise, they risk being slashed (losing a portion of the stake entrusted by their delegators). Slashing occurs in two main scenarios: Downtime: This happens when a validator’s node is offline and misses 95% of the past 28,800 blocks. As a result, the validator is jailed. They can unjail and return to the active set, but their delegators will irrevocably lose 0.02% of their staked amount. Double-signing: This occurs when a validator mishandles their key and signs one block twice. In this case, the validator is permanently jailed (tombstoned), and their delegators lose 5% of their tokens. It’s a significant and severe penalty, as the validator is removed from the network permanently.