FNCY Chain
FNCY 2.0.2 (ENG)
FNCY 2.0.2 (ENG)
  • Introduction
  • Getting Started
  • Design
    • Structure
    • Three Main Sets of Participants
    • PoSA Consensus
    • Governance
    • Staking
    • Mining Reward
    • Gas Fee
    • Runtime Upgrade
    • Cross-Chain Bridge
    • Security
  • Build On FNCY Chain
    • RPC Endpoints
    • Testnet Faucet
    • Block Explorer
      • Token Listing
    • BEP20 Token
    • NFT
    • Validator Requirements
    • NFT Market
      • FNCY Marketplace
  • For Developers
    • JSON-RPC
    • FNCY Chain API
      • Wallet API
      • Transaction API
      • Blockchain API
    • Wallet
      • FNCY Wallet
      • Use MetaMask for FNCY Chain
      • SDK
        • Android
          • Install
          • Guide
            • Initialize
            • Create/Restore Wallet
            • Wallet Search
            • Execute SendCoin/Contract
            • Transaction Search
            • Other Features
          • Methods
          • Domain
          • ETC
        • iOS
          • Install
          • Guide
            • Initialize
            • Create/Restore Wallet
            • Wallet Search
            • Execute SendCoin/Contract
            • Transaction Search
            • Other Features
          • Methods
          • Domain
          • ETC
    • Smart Contract
      • Deployment
        • Truffle
        • Hardhat
        • Remix IDE
      • Verify Your Contract on FncyScan
    • Gasless Transaction
    • with FNCY
      • FNCY Login
      • GAME AUTH Login
  • Tokenomics
  • Ecosystem Partner
  • FNCY Governance Partner
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On this page
  • Prerequisites of becoming a Validator
  • Delegation
  1. Design

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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