Collaborative Staking (Co-Staking)
In the world of decentralized networks, staking is a crucial way to secure blockchain systems and reward participants. Collaborative Staking (Co-Staking) takes this idea further by allowing third parties to participate in staking on devices they don't own, earning a share of the block rewards. This makes staking more accessible and encourages a more inclusive and cooperative network.
On our platform, Co-Staking allows users to contribute to staking on someone else’s device. This creates a partnership where both the device owner and the co-staker benefit. However, it’s important to remember that if a device doesn't meet the platform’s requirements, it could be penalized (a process called slashing), which may reduce both rewards and the original staked amount.
This guide will walk you through how to find staking opportunities, manage your co-staked devices, and track your rewards. Whether you're experienced with staking or just getting started, we’ll provide the tools and knowledge you need to navigate the Co-Staking system with confidence.
To ensure that more users can benefit from co-staking offers, we have set a claim cap of up to two offers per IO account.
Table of Contents
FAQs
We've compiled answers to frequently asked questions about co-staking on io.net, including troubleshooting tips and guidelines to help users navigate the platform.
Getting Started with Co-Staking
Q: Why is the "Create Co-Staking Offer" button greyed out for my device?
If you're a device owner and the "Create Co-Staking Offer" button is greyed out, it likely means your device hasn’t met the minimum self-staking requirement. io.net requires you to stake a certain amount of $IO tokens on the device before inviting co-stakers. In most cases, you must stake at least 50% of the total required amount before creating an offer.
Ensure that:
- Your device is fully set up and active on the network.
- You have met the minimum staking requirement.
Co-staking is only available for operational devices.
Q. Can a person co-stake on multiple devices?
Yes, co-stakers can participate in multiple devices simultaneously. However, you can only claim offers from two devices at any given time. This ensures fair distribution and prevents one person from monopolizing multiple co-staking opportunities.
Q. Can I co-stake on my own device?
No, device owners cannot co-stake on their own devices. This rule is in place to prevent users from bypassing staking requirements, such as the minimum self-staking threshold. Co-staking is designed to foster collaboration between independent parties.
Unstaking involves a 7-day waiting period followed by a 14-day cooldown period. Funds cannot be used during the cooldown, and rewards are paused during this time.
Co-Staking Terms & Rules
Q. How many co-stakers can a device have?
Each device can have only one co-staker per offer. Co-staking agreements follow a one-to-one structure:
- 1 device owner → 1 co-staker
If a device owner needs more than one co-staker, they must create multiple offers or reduce their own stake. Co-stakers can participate in up to two devices at the same time.
Q. Are the identities of co-stakers or device owners visible?
No, identities are anonymized within the marketplace. While users can view device specifications and staking terms, personal details of device owners or co-stakers are not disclosed.
However, wallet addresses are visible on the blockchain, but they do not directly reveal the identity of the parties involved.
Q. Can I change the terms of a co-staking agreement after it has been accepted?
No, once a co-staking offer is accepted, its terms are locked in via a smart contract. You cannot modify the stake amount, reward split, or other conditions after activation.
If changes are needed, you must:
- Cancel or close the existing offer.
- Create a new offer with the updated terms.
Withdrawing & Unstaking
Q. How do I unstake and withdraw funds from co-staking?
To withdraw your staked funds:
- Click "Unstake" - this initiates a 7-day waiting period where your tokens stop earning rewards.
- After the waiting period, your stake enters a 14-day cooldown period.
- Once the cooldown ends, your tokens will be available for withdrawal.
Risks & Performance Considerations
Q. What if the device I co-staked on performs poorly or goes offline?
io.net has a slashing mechanism that penalizes underperforming devices. If a device frequently goes offline or fails to meet performance requirements, both the device owner's and co-staker's stake may be slashed.
Slashing means forfeiting part of the staked amount as a penalty.
To minimize risk, always select reliable devices before co-staking.
Q. How does co-staking compare to traditional staking?
Unlike traditional staking, where tokens are delegated to validators, co-staking on io.net directly stakes tokens onto a specific device.
Key differences:
- Co-stakers share the risk of slashing.
- Rewards and conditions are set in a smart contract.
- It promotes a collaborative staking model rather than simple delegation.
Troubleshooting & Support
Q. What should I do if I experience an issue not covered in the FAQs?
If you encounter a problem, such as:
- A transaction error
- A device not appearing in the marketplace
- Co-staking issues
Try the following:
- Ensure you’re using the official io.net platform.
- Verify that your wallet is properly connected.
- Clear your browser cache or try a different browser.
If the issue persists, reach out to io.net support through:
When contacting support, provide key details like your wallet address and device ID for faster assistance.
Updated 12 days ago