Note: If you see a “claim,” button instead of “delegate,” you will need to wait 24 hours for Figment to claim before you can delegate. If you are already delegating, you do not need to claim.
Audius is a new streaming platform designed for musicians–they can build a fanbase, share works in progress, and finally share completed tracks with the world.
Musicians are using Audius to create, grow, and monetize their work without needing a record label. Audius is built for musicians and fans to enjoy their music together with the highest quality streaming.
Figment leverages the founding team’s 30+ years of real world experience operating critical internet infrastructure, resulting in unparalleled performance across our staking and application platforms.
Get insights from Figment’s complete staking offering with 24/7 institutional support from our dedicated global team and regularly produced industry leading research and insights.
Available via the Figment App or via API that hooks directly into client platforms, offering portfolio tracking across multiple networks and rewards optimization.
Stake your AUDIO tokens in a few clicks by following these steps:
If you see a “claim,” button instead of “delegate,” you will need to wait 24 hours for Figment to claim before you can delegate. If you are already delegating, you do not need to claim.
Note: if this is the first time, you will need to send an approval transaction before being able to delegate.
Metamask software wallet, a Ledger device via Metamask (recommended), and Gnosis Safe multisig are three different ways to stake, delegate, and interact with Audius.
Audius contract address: 0x18aaa7115705e8be94bffebde57af9bfc265b998
Staking dashboard: https://dashboard.audius.org
Transfers were enabled when the network launched on Oct 23, 2020. We expect staking rewards to be enabled on December 18, 2020.
Audius’ native token, AUDIO, is used to stake (to earn fees and rewards), for feature access on the platform, and to participate in on-chain governance.
Stakers are expected to earn newly-issued AUDIO tokens and platform fees. Stakers will earn at least 7% in yearly rewards, but we expect earnings between 10% and 14%, depending upon how much of the token supply is staked (ie. between 50 and 70% of the supply).
All investor tokens may be staked and delegated. Investor tokens are on a 2-year quarterly unlock schedule with a 6 month cliff.
You will be able to self-custody your AUDIO tokens, ideally using a Ledger hardware wallet. You can use the Audius team’s wallet with (or without) a Ledger device: https://audius.co/dashboard
The Audius protocol takes control of your AUDIO tokens while you are staking. If you unbond your tokens, this process will take about 7 days before the protocol returns your tokens to you. While your AUDIO are staked, you may participate in on-chain governance by voting on different proposals.
From the moment you initiate the unbonding process, it takes 7 days to unstake. During this time you will not earn rewards. When the process is complete, you can freely transfer/trade your AUDIO tokens.
Yes, a portion of your staked AUDIO can be destroyed via the governance process if it is decided that a node did something malicious. Examples:
The Audius community controls slashing via governance and is designed only to be used in egregious situations where 1) malicious intent or extreme negligence can be proved and 2) where the issue cannot be resolved off-chain.
Yes. Rewards are eligible to be distributed once per week, and an Ethereum transaction is required for stakers claim to rewards. Anyone can do this, and Figment will do this on your behalf. However, if the rewards are claimed within one week, delegators to this staking provider will miss their rewards for that period.
There are no consequences for node downtime.
The network will begin with a new issuance rate fixed at 7% of the supply per year, and though this rate is governable, we expect it to stay at 7% until at least November of 2021. Besides slashed tokens being burned, we do not expect the supply to decrease.
Audius uses on-chain governance, and that voting is based on the number of AUDIO tokens staked.
Everything in Audius is governable, including governance parameters themselves. Examples of parameters that may be changed via governance:
The only way that the network can be modified today is via governance or the community multisig override process. Key details about the governance process:
Voting lasts 48 hours, followed by a 24-hour enactment delay to allow for a veto via community multisig.
Figment is the world’s leading provider of blockchain infrastructure. We provide the most comprehensive staking solution for our over 200+ institutional clients including exchanges, wallets, foundations, custodians, and large token holders to earn rewards on their crypto assets.