Go to https://ping.pub/passage/staking, search for Chorus One from the list of validators, and click on it.
Go to https://ping.pub/passage/staking, search for Chorus One from the list of validators, and click on it.
Enter the amount you want to stake (leave some amount in your wallet to pay for the fees)
Click on the Delegate button
Click on Send and then Approve the transaction in your wallet/ledger. You're now staking with Chorus One!
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Validators in staking networks are nodes backed by collateral in the form of cryptocurrency tokens (“stake”). Token holders that stake (“stakers”) contribute to the network security by selecting trustworthy validators (“delegation”) and increasing the cost of a potential attack. They receive tokens as compensation for this in proportion to their stake backing (“staking rewards”). The size of these rewards is also impacted by additional factors such as network issuance rates (inflation), transaction (and sometimes storage) fees spent within the network, staking participation rates, as well as validator-specific factors such as uptime, commission rates, etc.
To learn more about the concepts of validation and delegation, check out the 101 post of our introductory series on the Proof-of-Stake ecosystem.
Proof-of-Stake (PoS) is an umbrella term for Sybil resistance mechanisms that use native cryptoassets as collateral to determine participation in the consensus process of a blockchain network. Staking enables token holders to earn a share of network income (e.g. from transaction fees) in return for placing their capital in escrow and helping to maintain the network.
In comparison to Proof-of-Work, where participants are rewarded for solving cryptographic puzzles in order to validate transactions and create new blocks, Proof-of-Stake relies on economic skin in the game (“stake”) in the form of network tokens.
Generally speaking, protocols that use some form of staking do so to enforce that the interests of participants are aligned with what the network aims to achieve. To learn more about the different types of staking, check out our framework here.
A critical component in the staking process is the need to lock tokens in escrow. In many networks there is an additional enforced delay that needs to pass before staked tokens can be withdrawn. This withdrawal delay is often referred to as the unbonding or lockup period.
One reason for these liquidity limitations is that protocols with staking need to ensure that slashings or other penalties can be enforced after the offense took place. If these limitations would not exist, a node could misbehave and instantly withdraw his stake, thereby avoiding penalties. In addition, lockup periods help with a variety of other goals like ensuring the safety of light clients, limiting validator turnover, and enforcing correlated penalties.
There are new designs emerging to mitigate the downsides of liquidity restrictions associated with staking through tokenization of staked positions, which is often referred to as liquid staking or staking derivatives. To learn more about these topics, check out our comprehensive liquid staking report.
You can use our services and stake in a non-custodial manner by setting up a wallet and taking control of your private keys. If you bought tokens on a centralized exchange platform, this will mean you will need to withdraw your tokens to your own wallet. Refer to our staking guide to learn about wallet options and how to stake in a non-custodial manner.
To ensure that the nodes (in Proof-of-Stake: validators) participating in a network behave as intended, many protocols enforce penalties if a node provably deviates from pre-defined rules. Penalties can mean that locked (staked) collateral in the form of tokens is taken from the balances of stakers backing that node. This is usually referred to as slashing. Other forms of penalties including excluding a misbehaving node from participating in the protocol, or temporarily lowering the rewards stakers receive. Such penalties pose the main risk of participating in staking. Read our Proof-of-Stake 102 post to learn more about other risks and tradeoffs to consider before getting involved in staking.
Most staking network tokens are listed on various centralized exchanges such as Binance, Coinbase, Bittrex, Kraken, Poloniex, Huobi, etc. We recommend using Coingecko to figure out on which markets the token you are looking for is available. Staking with Chorus One will require you to move tokens from the exchange you bought them from to your personal wallet.
Passage provides tools for creating a metaverse of virtual worlds that may be accessed using a web browser with no hardware requirements. The Passage worlds are led by the Strange Clan game, as well as the Blok Hous, which hosts live NFT auctions and artist performances. These are the inaugural metaverse worlds in the Cosmos ecosystem. The Passage ecosystem runs on the Cosmos Ecosystem and makes use of CPU capacity from the Akash Network decloud with the desire of decentralizing its GPU also. Passage released the marketplace on the Juno blockchain.
Chorus One is excited to announce that we have onboarded the Passage3D ecosystem as validators.
Passage, or Passage 3D, provides tools for creating a metaverse of virtual worlds that may be accessed using a web browser with no hardware requirements.
The Passage worlds are led by the Strange Clan game, as well as the Blok Hous, which host live NFT auctions and artist performances. These are the inaugural metaverse worlds in the Cosmos ecosystem. The Passage ecosystem runs on the Cosmos Ecosystem and makes use of CPU capacity from the Akash Network decloud with the desire to also decentralise its GPU.
Released on the Juno blockchain, the Passage Marketplace will allow NFTs in the Cosmos Ecosystem to be traded, viewed, and transferred, with ATOM serving as the primary token of exchange. This will be the first NFT-Marketplace to use the native Cosmos ecosystem token.
The Passage token ($PASG) serves as the universal utility token for all Passage worlds. The developers of the new world will stake Passage tokens in order to build a new world within the Passage metaverse.
The APR for World Creator Staking will be the same as for ordinary staking. The needed amount and lock-up duration are determined by the world’s scale. This model will begin with a USD value and will not be tied to a set number of Passage tokens. ATOM payouts are converted to PASG rewards for staking pools.
The gaming industry has a current market value of $200 billion and is expected to reach $340 billion by 2027. At Chorus One, we believe that GameFi and NFTs will become increasingly important in this share. Passage3D is here to expand and improve the GameFi ecosystem.
Passage has developed a Cosmos SDK blockchain in collaboration with the development company VitWit. The blockchain will initially offer staking, vesting, and airdrop capabilities, with a goal of counting 100 validators at blockchain genesis, using the Cosmos SDK. The blockchain’s major features will be a mix of security and efficiency, allowing for a large volume transaction rate with minimal costs.
The Passage token will have a low initial circulating supply of 145 million tokens with a fixed supply capped at 2 billion tokens.
There is a high initial inflation of 50%, followed by a 35% decline each year until maximum supply is attained after year 5. After year 5, staking rewards will be derived from Marketplace transaction costs. 71% of the available tokens are associated with staking incentives.
Aside from the more typical payouts for staking the token, all $PASG stakers will receive in-world advantages for assisting in the security of the blockchain. Savings on streaming Passage worlds and marketplace discounts on transaction costs (0.4–1.2% depending on stake amount) are among the perks. Find more information here.
You need to withdraw rewards and re-stake them with some frequency if you want to make use of compounding returns hence, additional delegation is needed for compounding. There is an un-bonding period of 21 days.
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