We are excited to introduce Equinox Staking, which will serve as the final phase of our testnet. This milestone is far ahead of our original schedule and is undoubtedly our most significant launch to date.

Equinox Staking will enable users to gain early access to Injective’s staking features while also allowing them to earn rewards for helping to test the capabilities of the protocol itself.

Introduction

Injective’s initial testnet began with an early access period to the Solstice testnet with our first ever trading competition beginning a few weeks after.

These past two phases have allowed us to test the capabilities of the network. We were able to rollout a number of optimizations that culminated in the release of entirely new versions of the testnet that could cater to retail and institutional traders alike. We were also able to launch novel markets  such as decentralized forex and stock futures.

We have far exceeded all of our initial goals and are thrilled to share with you Equinox Staking, which will provide an unparalleled view into new parameters of Injective Protocol.

Equinox Staking

Equinox Staking Dashboard

Equinox Staking will allow both validators and delegators to stake on Injective as we prepare to launch our mainnet in Q2. This will also mark the first time that our users and community members will be able to earn rewards by actively staking INJ.

Validators

Validators will serve an integral role in this process by helping to run nodes globally for Injective.

Since Injective is based on Tendermint Proof-of-Stake (PoS), the algorithm will use a pseudo-random election process to select a node to be the validator of the next block, based on a combination of factors that could include the number of tokens staked with a certain validator.

Currently, we have bootstrapped the network by working alongside leading validators in the space. This will help to accelerate our timeline in terms of rigorous testing as the validators will be able to provide meaningful assessments through a tight feedback loop.

The validator onboarding period will last at least two weeks and will officially begin today. We will be revealing a number of these validators over the coming weeks as we look to release Equinox Staking.

Upon the launch of our mainnet, we will allow anyone to become a validator on our network as Injective will be run by the community.

Delegators

Anyone can act as a delegator on Injective without needing to setup complex hardware or to setup any node. We have simplified the process, whereby users can delegate their tokens to any validator to earn rewards directly with the use of MetaMask or even their ledger wallet. The Injective delegation process will allow users to delegate their stake to a validator that will help run the day to day functionalities of Injective.

A minimum of 5 INJ will be required in order to delegate on Injective.

Rewards

Equinox Staking Calculator

Users can earn rewards by staking as well as through completing a number of tasks during this phase.

Baseline APY

Equinox staking will begin with a baseline APY for any staked INJ. An example of a calculator with which staking rewards can be calculated is shown above.

This baseline APY will dynamically adjust based on network demand as well as as the number of staking participants, so all numbers displayed in the calculator should be taken only be taken as an example.

APY Boosts

The baseline APY can be boosted through the completion of additional tasks. This can include processes such as re-delegating to a new validator or creating new governance proposals.

These boosts will be revealed at random times throughout the duration of phase 3 and will require users to have a minimum amount of staked INJ on the network in order to be eligible for participation.

Additional Incentives

We have a number of innovative incentives planned for our community as they take part is what is to date our most significant product launch.

Receiving these additional incentives will also require users to have staked INJ on the network throughout the duration of the Equinox testnet.

Final Thoughts

This month, we will be onboarding validators and revealing them to our community as they continue to go live. We also plan to provide access to the dashboard to our community for testing before opening it up entirely for staking later this month.

We could not have made it this far without the support of our community and look forward to growing the Injective ecosystem further.

About Injective Protocol

Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing. Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.

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