The SKALE Network is an “elastic” blockchain network that is designed to be interoperable with Ethereum. Ethereum compatible elastic sidechains will be the primary use of the SKALE Network.

Sidechains are operated by a group of “virtualized subnodes” that are selected from a subset of nodes within the network. These sidechains can be run using all or a subset of a node’s computation and storage capacity, which means that a single node can perform work in multiple sidechains.

Stake Now
Market Cap
Distributed every epoch (30 days)
Currently variable based on percentage of tokens staked. ~11%
None, if tokens are unlocked (after 60 day Proof of Use delegation period)
Rewards are manually restaked at the end of each epoch (30 days)
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Optimizing Staking With Figment

Figment offers peace of mind to its customers and provides the most complete staking experience in the industry

Rock-Solid Infrastructure

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.

Stake with confidence and knowledge

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.

Fully automated rewards reporting

Available via the Figment App or via API that hooks directly into client platforms, offering portfolio tracking across multiple networks and rewards optimization.

Staking Guide & Instructions

Stake your SKL tokens in a few clicks by following these steps:

There are serveral ways to delegate with SKALE, if you are using Activate, you can follow the steps here.

Those more technically savvy can use Validator-CLI tool to delegate from a hardware wallet. To use the CLI, you’ll need our validator information.

The final way is through Etherscan. You can use Etherscan and Metamask to delegate through the DelegationController.sol contract on Ethereum.

  1. Click here to go to the DelegationController contract
  2. Click “Connect to Web3” button at the top.
  3. Complete the fields by entering in the following information:
  4. Validator ID
  5. Amount of SKL in Wei units (the eth-converter tool will help)
  6. Select the delegation period – currently only 2 months are allowed
  7. On the Info line type “Etherscan”
  8. Click “write”

Figment's Validator Addresses


Need more detailed instructions?

See full guide


Where can I explore the network and create a SKALE wallet?

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If you participated in the Activate SKALE token sale in the fall of 2020, you can stake and delegate your tokens using this guide.

You can also use Etherscan and Metamask to access the network on DelegationController.sol

Those more technically savvy can explore the network using command-line interface.

What is the name of the asset being staked?

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The SKL token. The token can be used for staking, fees, and governance.

When is SKALE staking enabled? When are transfers enabled?

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SKALE has enabled rewards. Transfers will depend on the token lock-up schedule.

If you purchased your tokens via the **Activate Codefi Networks auction**, you will need to stake at least 50% of your tokens for three months before you can transfer (or trade) your SKL tokens. If you acquired SKL in any other way, this Proof of Use will not apply.

Why stake SKL?

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Good question!

Initially, the SKL is being staked to earn new issuance ("inflationary") subsidies. That means that the SKL supply will increase and stakers will capture the newly issued SKL. Generally, you will earn around 11% annually on your staked SLK, but that can change. Since staking rewards are tied to inflation, read about how inflation and rewards are related here.

Stakers will also capture fees from network transactions, so as SKALE transaction volume increases, SKL stakers will earn more than new issuance subsidies.

The SKL also gives stakers the right to vote on policy decisions for how the SKALE will operate and distribute treasury funds.

The main drivers of the SKL's value could be more than transaction fees. SKL-holders should be able to somehow extract value related to the “assets under management” that the SKALE secures (via products like DeFi). Owning staked SKL is ownership of the SKL, entitling SKL stakers to set/change the rules of the SKALE.

How long does it take to stake & unstake?

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It will take 60 days for your staking delegation to complete and for your tokens to become liquid (ie. transferrable). If you want to delegate for longer than 60 days months, you may elect to have your stake automatically redelegated at the end of the three-month period and will be rewarded a higher amount accordingly.

Do I maintain custody of my SKL tokens? Who or what controls my staked SKL?

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The SKALE network protocol will control staked SKL tokens automatically, however, functions involving rewards, delegating/redelegating rewards, and unstaking will be controlled by you.

Can my staked SKL be slashed (seized or destroyed)?

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Yes. Malicious action on the network on the behalf of your validator will result in 100% token burn. Double-signing and validator downtime penalties are to be determined by on-chain governance.

How is staking income disbursed? Is staking income liquid or automatically staked?

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Staking income on SKALE is automatically distributed every epoch (monthly). Figment is never in control of your rewards.

Staking income is staked automatically, which means you will need to unstake to withdraw your staking income.

Can I lose potential staking rewards?

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Your potential rewards depend upon validator performance. When your validator is down, you will not be earning staking income.

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Learn more about Staking

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.

Thank you for your interest in Figment and our team will contact you shortly! In the meantime, please take a look at our content that we publish regularly here.
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