Staking

Staking is an energy efficient form of mining that provides security to the Nexus Blockchain. NXS can only be staked inside the official Nexus Wallet when staking is enabled, and with a continuous Internet connection (24 hours a day, 7 days a week). This ownership represents a 'stake' in the sense of an interest in something. Staking provides security to the network, by which you can earn a Stake Rate which ranges between 0.5% - 3.0% per year on your staked NXS holdings.
What is the Stake Rate?

This value represents your current annual NXS rate of return (%).

The rate starts at 0.5%, and can increase to 3.0% after 12 months of consistent staking. The rate increase is non linear, slowing in terms of its increase over time. It takes several weeks of consistent staking to reach 1.0%, and around four months to reach 2.0%. With this rate, you can calculate the average amount of NXS you can expect to receive each day for staking.

Is there a minimum amount of NXS required to stake?

It is possible to stake with any amount of NXS at a rate of 0.5%. However, as of the 3rd March 2020 it takes around 10,000 NXS to be able to reach the maximum stake rate of 3.0%.

Removing Stake

When you remove stake, there is an associated cost. If you remove a portion of your stake, it also reduces your Stake Rate. This is to reward those who consistently stake long term and do not frequently reduce their committed Stake amount.

If you require frequent access to a portion of your NXS, consider keeping it in another account (such as your Default Account) and not committing it to stake.

Staking Difficulty

Similar to other forms of mining, Proof of Stake mining has a level of difficulty. As more people successfully stake on the network, the difficulty of staking increases. This results in an increasing amount of NXS required to increase the stake rate. Furthermore, a larger balance of NXS in your wallet will increase the frequency of NXS rewards.