Delegate Mina with Everstake: B62qpYmDbDJAyADVkJzydoz7QeZy1ZTiWeH1LSuyMxXezvu5mAQi53U
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Mina Delegation is an alternative to direct staking, with the advantage that you don't need to maintain your own node, which must always be online.
Delegators can stake their own mina to any block producer in exchange for a predetermined portion of the rewards (dependent on the terms the validator offers), minus any validator fees. Block producers are randomly selected for work on the chain, proportional to the amount of staked mina on the node (stake includes both self-bonded and delegated tokens). The more total mina staked to a node, the higher the probability it will be selected to produce a block.
You can delegate MINA tokens by using ~Clorio wallet, Auro wallet extension, or StakingPower mobile wallet.
Check out these guides on how to delegate MINA tokens via:
Please refer to our “Educational material” for guides in other languages.
If you are interested in staking $100,000 (in MINA tokens) or more, please Email us to get a special offer!
Mina Protocol is a next-generation Proof-of-Stake blockchain that stores transactions in a succinct form. The Mina blockchain is only 22KB in size. The size of the blockchain is immutable no matter how long it is used. Thanks to this, Mina Protocol provides fast synchronization of nodes. Mina operates on succinct proofs of state or SNARK-based compressed proofs of state. It is thanks to this approach that it is possible to achieve such compression.
What is the Mina Protocol’s APY?
Currently, the APY is 12% for locked tokens and 24% (Supercharged rewards) for unlocked tokens.
It should be noted that the emission is unlimited, and the token inflation rate will decline annually from 12% until it reaches 7%. See the chart below:
NOTE! The 12% (24%) is the average value and it can slightly change from epoch to epoch depending on how many blocks were won.
|Months From Launch||Supercharged Reward Target|
|0 — 5||24%|
|6 — 6||21%|
|9 — 11||18%|
|12 — 14||15%|
Zk-SNARK (Zero Knowledge Succinct Non-Interactive Arguments of Knowledge) is succinct cryptographic proof that checks blocks for validity.
In the abbreviation SNARK, “succinct” means that the evidence is small and can therefore be quickly verified. “Non-Interactive” means that there is little or no interaction between the prover and the verifier. They only share one piece of evidence.
A zk-SNARK functions as a genuine certificate to prove that a computation (verifying transactions in a block) was performed correctly, without confirming the computation itself. This way, a SNARK validates the block’s transactions without having to display all transactions. This effectively reduces the block size to one SNARK.
And here lies the ingenious solution provided by the Mina Protocol developers. Creating a SNARK is a computation, so you can create a SNARK from multiple SNARKs. Therefore, every time a new block is created, a new SNARK certificate is generated accordingly. It is also possible to create one SNARK confirming previous certificates. After that, one “super” SNARK can be created that proves the entire transaction history of the blockchain, allowing you to go from the first block (genesis block) to the current state while remaining the same size as one certificate. This process can be called recursive SNARK composition, which allows the blockchain to remain constant in size (less than 22KB).
For more details see the Technical Whitepaper
The node operators can play two roles: they can create blocks and/or they can create SNARKs.
There are two groups of validators in the Mina blockchain:
- Block Producers, who are represented in other blockchains as miners or validators. Typically, block producers choose which transactions to include in the next block.
- SNARK-workers or SNARKers are network members who create zk-SNARKs to verify transactions.
To remove the trust element from the Mina network, the developers have added two important properties to SNARK:
- Combinability. A SNARK combines the two pieces of evidence to form a merger proof.
- Associativity. All merge proofs are identical to each other and do not depend on the order in which the merge occurs.
This approach allows any user to launch a node on the Mina network or become a SNARK worker, receiving rewards for their work. This sets Mina apart from other blockchains that require either expensive mining hardware or large staking amounts.
For more details, read our article
Currently, Everstake’s commission rate is 5%.
To encourage staking, Mina offers a Supercharged reward for the first 15 months for accounts that do not have blocked tokens. In the first 5 months, this remuneration will be 24% per annum. Which is 2 times more than the usual staking reward.
During the launch of the mainnet, 1 billion MINA tokens will be distributed, but they will be fully unlocked only after 8 years. Although the emission is unlimited, the token inflation rate will decline annually from 12% until it reaches 7%.
Owing to the use of recursive zk-SNARKs, Mina achieves scalability. By generating proof that attests to the validity of historic blockchain states, Mina can keep the blockchain size fixed. This allows for increased throughput due to block size limits not being as taxing on the network, thereby increasing the scalability of the network.
ZkApps (zero knowledge apps), previously known as Snapps, are Mina’s zero knowledge smart contracts. In short, Mina zkApps are a more scalable and private form of the dApps you find on Ethereum, and through zk-SNARKs, zkApps can prove that any information it processes is valid, without needing to expose all the pieces of information. So in the case of smart contracts that allow for trustless transactions to take place, zkApps can do this in a much more secure way because it doesn’t expose any unnecessary information whatsoever during its execution.
People are coming to crypto from a variety of industries. In order to guide newcomers through complexities, providing them with detailed information related to a blockchain, we work hard to create more educational content.
Read our introductional articles on Mina Protocol:
- Mina Protocol Overview — The Features Of A New Succinct Blockchain Platform
- Mina Protocol review — caractéristiques de la nouvelle plateforme avec blockchain compressé
- Mina Protokolüne Genel Bakış — Yeni Bir Özlü Blockchain Platformunun Özellikleri
- Огляд Mina Protocol — особливості нової платформи зі стиснутим блокчейном
- Tổng Quan Về Giao Thức Mina — Các tính năng của một nền tảng blockchain “gọn nhẹ’’ mới
- Visión general de Mina Protocol — Las características de una nueva plataforma blockchain “sucinta”
- Обзор Mina Protocol — особенности новой платформы со сжатым блокчейном
- How are the rewards accrued in Mina Protocol?
- Mina Protokolü'nde ödüller nasıl tahakkuk ettirilir?
- Phần thưởng được tích lũy ở Mina như thế nào?
- Mina 프로토콜의 특징 소개 — 새롭고 “간결한” 블록체인 플랫폼
- Как делегировать MINA в расширении Auro Wallet
- Auro Cüzdan uzantısını kullanarak MINA’ya nasıl yetki verilir?
- Cómo delegar MINA usando la extensión Auro Wallet
- Как делегировать MINA в мобильном кошельке StakingPower
- ~ Clorio Cüzdan ile Nasıl $MINA Delegate Edilir?
- Как делегировать $MINA (Mina Protocol) через кошелек ~Clorio
- Staking, Unstaking, and Redelegating Mina Tokens: The Next Level of Staking Flexibility