PlasmaChain staking for delegators is officially live. That means any LOOM token holder can now become a delegator and support validators in securing PlasmaChain.

PlasmaChain is a high-performance DPoS sidechain that acts as a bridge between multiple chains and Ethereum. It supports EVM smart contracts, offers sub-second confirmation times and high-throughput, and Plasma Cash for securing on-chain assets.

How Do I Become a Delegator?

Create an account Generate a private key Log in to your MetaMask wallet Deposit LOOM tokens onto PlasmaChain Choose validators to stake with

What’s in it for Me?

PlasmaChain will have a pool of guaranteed block rewards that are released over time to the network validators. Up to 20% of Loom Network’s remaining token pool will be paid out to validators each year.

Validators can choose to share a portion of their rewards back to their delegators each reward cycle — but this is entirely up to the validator.

The percentage each validator shares will be published on the PlasmaChain Dashboard to ensure full transparency, so that users can make informed decisions prior to staking.

For additional info on validator rewards, see this post on validator and staking economics.

PlasmaChain Validators

PlasmaChain validators need to run and maintain the server hardware that processes all the transactions on PlasmaChain. They ensure the health, performance, and security of the network — a huge responsibility.

Here is the current list of the best ones to do that:

Mythos is a crypto investment company, investing directly in cryptoassets as well as running infrastructure services to operate the underlying crypto networks themselves.

Bitfish is quickly emerging as one of the leading staking projects in the space. They are creating a platform that will let anyone stake their crypto, contribute to network security, and share in the value being created.

MW Partners / Stake.With.Us is a Singapore-based investment firm focusing exclusively on early stage blockchain-enabled projects — and they’re one of the best in the game.

Chorus One is building core infrastructure for blockchain protocols, supporting open access and permissionless innovation. They operate validating nodes and staking services for Proof-of-Stake blockchain networks.

ShipChain is using the blockchain to disrupt the transport and logistics industry and become the underlying platform for every logistics transaction — maritime, air, truck, and rail.

Block Matrix is developing quality applications and infrastructure that interact with blockchain technologies, while delivering the right mix of performance, scale, stability and security.

For further reading on validators, staking, lock-up periods, and other details, check out the PlasmaChain Delegators FAQ section.

You can stake your LOOM tokens by using MetaMask or Ledger via staking dashboard. Besides support for mobile wallets on the latest release of the dashboard is now available. Cobo Wallet will add native LOOM staking to their mobile wallet. So you can now deposit and delegate LOOM tokens to your favorite validator directly from your Cobo Wallet.

Over 142 million LOOM have been staked by the community — and that’s JUST with desktop support.

Since Cobo Wallet is spearheading the ability to delegate LOOM directly from its mobile wallet — this is going to make token delegation even simpler, and more accessible to more people.

If you are curious about the benefits of staking your LOOM tokens — please take a look at the economics of staking first. Then you need to learn how to stake your LOOM tokens.