Buy STAKE

What is STAKE?

STAKE is a multi-chain staking token designed to secure the xDai chain, which operates as a stable payment blockchain pegged to the US dollar. It plays a critical role in maintaining the network's security and providing consensus.

How does STAKE work?

STAKE operates on the Gnosis Chain (formerly known as xDai Chain) using a Delegated Proof-of-Stake (PoSDAO) consensus mechanism. It involves validators and delegators staking their STAKE tokens to achieve transaction consensus and to receive staking incentives. The process is designed to maintain network security through participation and rewards.

What are the potential use cases for STAKE?

Stake has several use cases, including:

• Peer-to-peer payments: Allows for fast and efficient stable payments.
• Smart contract scaling: Facilitates scaling computations for decentralised applications (dApps) and smart contracts.
• Decentralised finance (DeFi): Supports stable transactions and low fees, which are crucial for various DeFi applications.
• Gaming: Enables fast and inexpensive transactions, enhancing gaming platform efficiency.

What is the history of STAKE?

STAKE was developed by the POA Network and was launched on October 1, 2018. It was initially introduced to improve scalability and address the issue of high gas fees on Ethereum. Key milestones include its launch at ETHBerlin, the implementation of PosDAO consensus in April 2020, and partnerships such as the GnosisDAO for the development of the Gnosis Chain. The technology has evolved from a sidechain to a full-fledged blockchain with growing market presence.