Orbs Staking Promotion Summary

Nate Simantov
Nate Simantov

|

a year ago

blog

Insights and Data behind the first Orbs staking promotion

Welcome back, everyone!

In April 2020, Orbs announced the transition to its new and improved staking mechanism and introduced the Tetra staking wallet. This process was improved by meaningful insights and contributions from the Orbs community members and many of the network Guardians, which will help build a more secure network, making it the first choice for enterprise applications.

To celebrate this important milestone, the first-ever Orbs Staking Promotion was launched, coming to an end at the end of April at midnight GMT. Shortly after, Promotion proceeds were added to the staked funds, for both Delegators and Guardians.

Overall, the first month of the transition period has been a huge success, showing genuine interest and participation from members of the Orbs POS Universe!

HUGE thank you to all of you who took part in the process! Your contribution has a direct impact on putting Orbs on the path to greatness.

A Closer Look at the Numbers

In total, 283 delegating addresses with more than 358M ORBS have been delegated in the mechanism so far, to a total of 12 Guardians:

In less than a month, the new staking mechanism has over 50% of the total ORBS tokens staked of the entire stake participating in the Orbs Universe:

When examining the staking % per Guardian, we can see a diverse and wide distribution, with Whale Core Stake being the Guardian with the most staked ORBS delegated to him:

Great news! The new staking historical chart for April 2020 shows a good uptrend trajectory:

Summary

The new Orbs staking mechanism is a critical milestone in the project's roadmap, with the goal of making the Orbs blockchain more stable and secure, thereby attracting the on-boarding of new and emerging enterprise use-cases.

Looking at the end of the first month after the announcement, over 50% of the participating stake has already transitioned to the new staking mechanism. In addition, the Tetra wallet has received good feedback on being user friendly and an effective tool for staking ORBS (keep the feedback coming! More improvements to come). The Orbs team is tirelessly working on constantly improving the new staking mechanism and tools, with important feedback from the community.

We want to thank all of the community for putting on a great effort so far!

This is also the place to give a HUGE round of applause to the Orbs Guardians! We saw how hard many of them worked with their delegators communities, keep it up <3

Of course, this good news is not a cue to slow down, but to speed up - every contribution by a member of the community helps ensure that the transition to POS V2 is successful.

Stay tuned for more updates with Orbs Twitter, which just surpassed 15K followers over the weekend! And as always team members are available for any and all questions as well via the Official Telegram group.

More surprises and promotions are yet to come, stay tuned!

Well done, everybody!

- N

We use cookies to ensure that we give you the best experience on our website. By continuing to use our site, you accept our cookie policy.