• For Stakers

Begin your staking journey with Polimec by delegating your PLMC to the collator(s) of your choice. To delegate your PLMC, visit Polimec's staking dashboard.

Staking Metrics

  • Block Time: ~12 seconds
  • Minimum Delegation: 50 PLMC*
  • First Rewards Payout Delay: ~12 hours (3,600 blocks or 2 rounds)
  • Round Duration/Rewards Payout Frequency: ~6 hours (1,800 blocks or 1 round)
  • Rewards Payout: 90% to delegators and 10% to collators
  • Unstaking Period: ~168 hours/7 days (50,400 blocks or 28 rounds)
  • Maximum Delegators per Collator: 300

*The minimum delegation of 50 PLMC may vary depending on the number of delegators per collator. This is subject to delegator exhaustion, with a current cap of 300 delegators per collator.

Staking on Polimec

Parachains like Polimec can benefit from Polkadot’s security architecture by introducing collators. Akin to validators on the Relay Chain, in parachain networks, collators play a critical role in maintaining the parachain’s functionality by aggregating transactions from users on the parachain and generating for Relay Chain validators.

For this purpose, collators maintain a full node for the Relay Chain and another one for the corresponding parachain. This enables collators to retain all necessary information to author new blocks and execute transactions. In the normal course of operations, transactions are collated and executed to produce an unsealed block, which is furnished, along with a proof-of-validity (PoV), to one or multiple validators responsible for proposing a parachain block.

Similar to nominated proof-of-stake (NPoS), where DOT holders can participate as nominators, Polimec’s delegated proof-of-stake (DPoS) mechanism enables PLMC holders to act as delegators. By delegating PLMC to collators, delegators are eligible to receive rewards in PLMC in return. This process, referred to as staking, closely mirrors the procedure for DOT holders on the Relay Chain. During staking PLMC, a staking lock is activated, restricting transfers, evaluations, and participation in projects using the staked PLMC.

Staking Rewards

Staking rewards for collators and their delegators are paid out in PLMC on a round-by-round basis. The effective staking rewards rate is determined by the amount of PLMC staked in relation to the total supply. The more PLMC staked, the less staking rewards per staked PLMC.

Each round, collator candidates are selected to join the active set, which is capped at 10 collators. If there are 10 or fewer collators, a selected candidate of the active set needs only a minimum self stake of 20,000 PLMC. Conversely, if more than 10 collators compete for the active set, only the 10 collators with a self stake of minimum 20,000 PLMC and with the highest total delegation (self stake plus delegator stake) become the selected candidates of the active set.

Each round consists of 1,800 blocks, distributed equally among the active collators using round-robin scheduling. Every block produced by a collator earns them 20 points for the round, with a maximum of per round. A collator’s share of the PLMC distributed each round is determined by dividing their score by the total points.

Calculation Example - Staking

If a collator fails to perform their required functions, no rewards will be distributed, including for their respective delegators. If a parachain block is invalid, validators will reject it, and the affected collators will lose further validator backing. This differs from validators and their nominators on the Polkadot Relay Chain, as they face slashing risks for erroneous or malicious behavior. Hence, there is no slashing for collators on Polimec.

Relationship between the Polimec parachain and the Polkadot Relay Chain:

Relationship between the Polimec parachain and the Polkadot Relay Chain

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