Overview
The record of transactions for each blockchain network is stored on thousands of computers that participate in that specific network. Depending on the network, these participants are usually called miners, validators, or nodes. In Proof of Stake (PoS) systems, validators stake a specific minimum amount of the network's base asset to be trusted by other network participants and are rewarded for maintaining the network accurately.
On Fireblocks, you can stake to various networks from your Vault. When staking, you select a third-party staking provider to operate the validators associated with your staked funds. Typically, the staked amount is locked for a certain period.
Staked assets become eligible to receive rewards after the network's activation period. Staking rewards are calculated over a period usually known as an epoch. This is the period of time in which validators and their staked amount are accounted for. Depending on the network, an epoch may be anywhere from a few minutes to several days. Typically, staking rewards are calculated and distributed after each epoch ends.
When you unstake your assets, you no longer generate staking rewards, but you're able to use those assets for other transactions.
Staking on Fireblocks
Fireblocks allows you to stake your assets using the Fireblocks Console or the Fireblocks API. Staking with these methods allows you to:
- Easily and securely stake assets with a few clicks or through Fireblocks-native API calls.
- Create dedicated Policy rules for staking using the Stake operation type.
- Track the status and rewards for your staked funds.
- Initiate staking transactions without the need for SDKs, scripts, or Raw Signing.
- Select validators directly from the Staking page.
To stake, you must fund a vault account with the asset you want to stake and add at least one Policy rule using the Stake operation type that allows transactions from that vault account. Then create a staking transaction using the Console or the Fireblocks API.
Supported assets
Fireblocks also support staking on testnets for the above assets.
Additional staking methods
You can also stake your assets using the advanced methods below. However, they are generally less secure, limited in their functionality, more complex in scope, and don't include the benefits that come with the built-in methods above. For example, the methods below don't allow for explicit rewards tracking, can't be used with Policy rules configured with the Stake operation type, and usually involve running SDKs or other scripts. Each method only supports certain assets.
Additionally, these methods can't be used in conjunction with the Fireblocks Console or the Fireblocks API methods mentioned above. For example, if you use the Raw Signing method to stake, you can't track the rewards via the Fireblocks Console or the Fireblocks API.
Raw Signing
This method involves using an SDK in conjunction with the Raw Signing feature. You must have API access enabled with an API user and Policy rules to accommodate Raw Signing.
You can stake the following assets on mainnet or testnet using Raw Signing:
- Cardano (ADA)
- Kusama (KSM)
- NEAR (NEAR)
- Polkadot (DOT)
- Tezos (XTZ)
Learn more about staking with Raw Signing.
Web3 connections
This method involves connecting your workspace to decentralized applications (dApps).
Staking notifications
You can use the Notification Center to configure email, Slack, and webhook notifications for certain staking events. In the Fireblocks Console, go to the Notification Center and configure notifications for Transaction category events.
Only staking actions that produce transactions will trigger a notification. For example, you will not receive a notification for withdrawing staked ETH since the action does not require you to sign a transaction.