If you are new to SOUL staking and wondering how to go about staking your first SOULs, please have a look at our wallet guides for the multi-chain wallets Poltergeist and Ecto describing the simple process
There are multiple benefits to staking your SOUL tokens. In addition to earning a decentralized storage allocation you earn voting power in proportion with the amount and duration of your staking. On top of this you will be able to secure your very own on-chain wallet name, but there are pure token incentives as well:
- Stake for KCAL: Every single day you stake your SOUL, you earn 0.002 KCAL per SOUL staked, ie 100 KCAL per day for 50,000 SOUL staked.
- Stake for SOUL: If you own and stake 50,000 SOUL or more in your wallet you earn the title of Soul Master. This earns you an equal share of the 125,000 SOUL distributed each month to every eligible Soul Master who has staked at least 50,000 SOUL throughout the previous calendar month.
- Stake for CROWNs: On top of this, every 90 days the Phantasma blockchain distributes a special NFT reward to those who have been continuously staking their Soul Master. This NFT, called the CROWN, is infused with 25% of the KCAL fees spent on the blockchain in the last 90 days, as well as 10% of the block producers’ SOUL allocation. Those who receive a CROWN can choose to burn it to access the infused assets, or they can keep it in their wallet and make use of its special power: Adding 5% to your KCAL generation rate for each CROWN you hold!