Staking on Galactic Union
Before reading the paper, please kindly note that all references to the increments in values are in absolute terms with regards to the balance of GU. This document does not refer to the monetary value of GU at any time in the market.
As users stake their GU tokens, they help the network become more secure, and as a result, they will get rewards while doing so.
You can place bets by delegating your tokens to the platform.
There is a financial model of shared risk and shared reward that can offer long-term returns to the holders of delegated tokens. This would be called share delegation and is managed by organizing the financial incentives of the token holders (delegators) and the platform to which they delegate.
The platform will charge a percentage for transactions within the platform. Also for certain services of the platform will be charged
Expenses incurred in the operation and management of the platform will also be accounted for. This amount will then be passed on to delegates in the form of a fee based on a percentage of the rewards earned. The commission is the name of this fee.
Rewards and reductions will be in the best interest of the platform and the token owner. This bi-directional relationship helps maintain the security, reliability and performance of the platform.
How can users stake their GU tokens?
Users can place bets by depositing their tokens on the platform. All wallets supported by the platform can easily do this.
Account details Stakes
If you would like more information about stake account operations and permissions, please see Stake Accounts.
Account structure Stakes
Users can use a stake Galactic Union account to delegate tokens to the platform to potentially get some rewards for the stake account holder.
A unique address is provided for each betting account. This address can be used to look up account information on the command line or in any web browser tool. However, unlike the wallet address, where the owner of the address key pair controls the wallet, the key pair associated with the stake account address does not necessarily have any control over the account. In fact, the stake account address does not necessarily require a key pair or private key.
There are times when the stake account address contains a key pair file when users create a stake account using the command line tools. During this process, a new key pair file will first be generated to make sure that the stake account address is unique.
When a betting account is created, both betting and withdrawal authorizations will be set. They can also be changed in the future to authorize a new signature address at any time. Placement and withdrawal authorizations can have the same address or use two different addresses.
The key pair of withdrawal authority is more effective in account management because users will need it to liquidate tokens on the stake account. It can also be used to reset stake authority if the key stake authority pair is lost or compromised.
Please be extremely careful to protect your withdrawal authority from loss or theft when maintaining a betting account.