Voting Service Provider Overview

Voting Service Providers (VSPs) allow you to participate in Decred Next’s proof-of-stake (PoS) system without the need to keep a constantly unlocked wallet or worry about losses due to downtime, flaky internet.

VSPs are used to delegate your voting powers. The VSP can cast a vote on your behalf when a ticket is called to vote. VSPs do not hold, manage, or transfer any of your DCRN funds. The VSP cannot steal your funds.

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What is Staking?

Staking (PoS) allows users to participate in Decred Next’s Governance. To have your say, you can lock up your DCRN funds in return for tickets. Participants are given a real voice in the decision-making and rewarded for engagement in the projects governance.

Participation in Staking (PoS) is open to everyone and requires time-locking a portion of your DCRN in return for tickets. Current price of a ticket is 2.86 DCRN

What are Tickets?

The purpose of these tickets is twofold:

- Firstly they serve an automatic function of voting on the validity of new blocks.

- Secondly they grant the right to partake in the decision-making processes which determines the future of Decred Next.

The process of staking is essentially like a lottery, where tickets are chosen to vote randomly.

Rewards

A successful vote returns the participant the original cost of the ticket and a part of the block subsidy as a reward.

In case the vote misses (0.5% probability), original cost of the ticket is safely returned without the reward. Average time for a ticket to vote is within 28 days and maximum up to 142 days.

Information

VSP fee: 7.5%

Proportion: 3.37%

Network: mainnet

Status: Open

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