Staking

Staking is a prerequisite to becoming a validator. To register as a new validator address, you need to send $FNCY, the native asset of FNCY chain, to the smart contract system.

Prerequisites of becoming a Validator

Validators participating in FNCY consensus algorithm form a consortium, and the addition and deletion of privileges are decided by votes of existing members. To become a validator candidate, you must meet the following prerequisites:

  • Complete the KYB (Know Your Business) and KYC (Know Your Customer) certification process

  • $FNCY must be deposited in the System Contract and all validators must self-stake a minimum of 5,000,000 FNCY.

  • Validator candidates are finally elected through governance voting.

Delegation

The delegation function will not be opened upon the first mainnet opening on November 22, 2022. Once FAM (FNCY Authority Members) consultative body is formalized, then the delegation function will be supported based on the governance voting.

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