There are several risk factors associated with using the Staking Dashboard by Indorse. Please refer to our terms here for all the associated risks in detail.
1. What is an IND token?
IND is the native token in the Indorse ecosystem, and was created during the Indorse token sale in late 2017. Users of Indorse are rewarded for their activity on the platform with the Indorse cryptocurrency token (IND), which can be used to participate in the Indorse ecosystem. With the upcoming updates such as new roles, staking, and DAO, the IND token becomes even more powerful, empowering the Indorse ecosystem to grow further.
2. Who is a validator?
Code Validators are part of the Indorse ecosystem in terms of their calibre as independent expert software developers with multiple years of experience in the software industry. These validators conduct Code Reviews on the code projects submitted by individual candidates or those being sent by the clients of Indorse. Currently, Indorse has a community of about 250 active validators across 11 different technologies, including Java, JavaScript, Python, Data Science, Blockchain, C#, C, and more
3. What are the rewards for staking?
The staking rewards will be given out of the 14,624,747.00 “Inflation Tokens” that have been kept aside during the token sale in 2017. They can be found in this contract -
https://etherscan.io/address/0x00D31206E625F1f30039d1Fa472303E71317870A
The staking rewards distribution model is designed to be available for a period of 60 months and will go on decreasing month over month until the 60th month. It might go on beyond this time period if part of the tokens is not distributed by the 60th month.
Every month, IND tokens equivalent to the corresponding value from the column ‘Block rewards' from Table 1 below will be moved from the Inflation tokens contract to the staking contract in order to cover the disbursements.
If there are not enough users staking for any given month, the reward tokens will roll over in the subsequent months (this may, in effect, extend the period during which staking rewards are distributed beyond the initial plan of 60 months).
Block Number | Monthly Rewards | Sample rewards for 1000 IND staked |
---|---|---|
T0 + 200,000 | 438,742.41 | 7.45 |
T0 + 1,200,000 | 405,122.3 | 6.88 |
T0 + 2,400,000 | 364,778.17 | 6.19 |
T0 + 3,600,000 | 324,434.04 | 5.51 |
T0 + 4,800,000 | 284,089.91 | 4.82 |
T0 + 6,000,000 | 243,745.78 | 4.14 |
T0 + 7,200,000 | 203,401.65 | 3.45 |
T0 + 8,400,000 | 163,057.52 | 2.77 |
T0 + 9,600,000 | 122,713.39 | 2.08 |
T0 + 10,800,000 | 82,369.26 | 1.39 |
T0 + 12,000,000 | 42,025.13 | 0.71 |
Table 1 - Sample calculations for staking rewards - for illustration purposes only - actual rewards may vary
T0 = Block at which the Staking contract is deployed