Klaytn
Time factors
| Protocol time | Human readable time | |
|---|---|---|
Protocol time 1 | Block | 1 second |
Protocol time 2 | Cycle (= 86,400 blocks) | 24 hours |
First reward delay | 2 cycles | 48 hours |
Reward frequency | Every block | 1 second |
Unbonding period | 1 week | 7 days |
The protocol has an implicit block time target of 1 second. However, this is not an enforced parameter and block times can fluctuate depending on network conditions.
Lifecycle
Must know before staking
Minimum stake amount | ✅ | 5,000,000 KLAY |
Partial stake changes | ✅ | |
Partial reward withdrawal | ❌ | |
Compounding | ❌ | |
Penalty | ❌ | |
Slashing | ❌ |
No delegations. The protocol does not support delegations. Stakers must run a validator or use third party apps that lets them stake with existing validators.
All transaction fees are burned.
Advanced topics
Rewards
Rewards come from newly issued tokens.
Fixed number of tokens issued every block. The protocol issues 6.4 KLAY per block. 10% goes to the block proposer, 40% goes to all stakers, 20% goes to the Klaytn Growth Fund, and 30% goes to the Klaytn Improvement Reserve.
Risks
The protocol does not have any penalties or slashing.
Since the protocol does not natively support delegations, stakers need to rely on third party apps, which have their own sets of terms and conditions.
Validators
Total validator cap | ❌ | |
Validator requirements | ✅ | 5,000,000 KLAY |
A validator must go through a qualification review process by Klaytn’s governance in order to become part of the active validator set.
Resources
Klaytn documentation: https://docs.klaytn.foundation/
Klaytn explorer: https://scope.klaytn.com/
Last updated
