DPoS and How to stake on Calamari
Calamari is Manta’s canary network, built on Kusama. It uses ZK-Proof technology for privatizing transactions. Calamari aims to provide on-chain privacy to NFTs, DAOs, DeFi, GameFi, and other blockchain dApps.
To strengthen Calamari network security and enhance decentralization, the team migrated to Delegated Proof of Stake, DPoS. The staking program was launched in October.
PROS AND CONS
Before discussing how to delegate KMA, let’s highlight the pros and cons between Calamari DPoS and NPoS.
✓Calamari’s delegators don’t lose their collateral (KMA) or get punished if their elected collator turns malicious. Delegating is simple and requires less computational time, i.e., a delegator can always pick any collator he wishes to delegate to.
✓While in Nominated Proof of Stake, both validator and nominator are punished in the event of malicious activity of the collator. Delegating requires a kind of distribution election, for example, on Kusama, an on-chain election occurs to distribute KSM tokens among backed nodes.
✓The disadvantage of DPoS is that it favours larger stakeholders. Sometimes those with higher stakes are given some disproportionate control of the protocol consensus.
Note: There is no slashing risk for Calamari’s delegators. But, when a collator fails to produce new block, no reward for both the collator and his delegators.
KMA
$KMA is the deflationary native token of Calamari. The total supply is 10,000,000,000 KMA, and 2.358B KMA is currently in circulation. 9% of total KMA (i.e 3% per year) will be distributed for 3 years as a staking reward, which commenced after the launch of the staking program.The annual 3% issuance or incentive helps to strengthen Calamari network decentralization.
STAKING DETAILS
Since its launch, the Calamari staking program as been looking good. About 40 active collators are supporting the network. 487.087M KMA has been staked.
Staking rewards are divided into 2. Approx. 1104 KMA (equivalent to 3% incentive per year) are minted per block. 10% of 1104 KMA goes to the collator, and the remaining 90% is proportionally split to the collator’s delegators.
HOW TO DELEGATE KMA
Staking $KMA on Calamari Dapp is simple due to its user-friendly interface.
Below are guidelines and infographics on how to stake KMA:
✓You must have a minimum of 5000 $KMA.
✓A compatible wallet like polkadot.js.
✓Visit https://app.manta.network/#/calamari/stake
Note: mobile phone is not yet supported; use PC.
✓As the homepage appears, click “connect wallet” as indicated below
✓Now that you’re connected to the staking app, click on the Start Staking button
✓scroll down and choose any collator you prefer and click stake.
Note: if you are unsure of who to stake with,? To help pick a collator with the best staking APY (ranges from 10% — 70%+ APY) visit stakekma.com
✓After clicking stake, a pop up will appear requesting you to enter the amount of $KMA you wish to delegate. Enter the amount, and click stake.
✓Success!
Rewards are updated automatically on your dashboard every 6 hours.
CONCLUSION
Start staking $KMA with just a couple of clicks and automatically earn rewards after every 6 hours.
