After you have successfully connected your wallet to the dashboard and approved the Validator smart contract as explained here. You can proceed with further steps.

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DO NOT SEND YOUR TOKENS DIRECTLY TO SMART CONTRACT ADDRESS

Doing so will lead to losing your assets irreversibly. A two-step procedure must be done to deposit the tokens: approval on NOIA token contract and deposit on Validator or Nominator contract. Use the Syntropy Staking dashboard to perform any staking actions.

Whitelisted validators who continuously run the software, use access keys provided via the dashboard and stake the required amount of tokens can earn an expected annual yield of 25%. Validators can stake in the range of 20k to 200k NOIA tokens. There are 500 validator slots allocated, and every position is prioritized by stake size.

Validator Staking

1. Proceed to the Stake section in the staking dashboard. Type in the amount of NOIA tokens you wish to stake and click on the Stake button. Continue following the MetaMask on-screen instructions and continue with the transaction. You will need to have an appropriate amount of Ether in your wallet to cover transaction fees.

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BE MINDFUL OF ETHEREUM NETWORK TRAFFIC AND FEES

Depending on the Ethereum network traffic and spent transaction fees, your transaction may take up to several minutes, if not hours, to confirm. Track your transaction in Etherscan and see current gas fees here.

2. After your transaction is complete and verified by our dashboard, an Email verification button at the top right of the dashboard will become available. Verification of your stake can take up to 30 minutes. Follow the on-screen MetaMask instructions to verify your email. This interaction is not a transaction and subsequently will not require any Ether for gas fees.

3. After verifying your e-mail address, you will receive your access key by clicking the Get access key button in the dashboard. Follow the on-screen MetaMask instructions. This process is not a transaction and will not require any Ether.

4. Copy your access key and store it in a secure location. This is a unique identifier that bridges your validator node to your wallet. Please do not share it with anyone that doesn't need to know!

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FURTHER TECHNICAL VALIDATOR STEPS

You can now proceed to the technical stage of becoming a validator. You can find further instructions here: Setting up and running a Syntropy Validator node

Completing KYC

All validators must perform KYC to withdraw any amount of accumulated rewards. You can complete KYC later or when you wish to claim your rewards. Navigate to the Claim section of the validator staking dashboard and click on the KYC prompt to validate your wallet. Follow the on-screen MetaMask instructions. These steps will not require any network gas fees.

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VALIDATOR STAKING REWARDS

Once you have accumulated enough validator node uptime in four days and continue to stake, you will be eligible to be whitelisted and secure your validator position. If you have secured a place in the top 500, you will start to accumulate rewards which are calculated and displayed as total rewards every 30 minutes. Rewards become claimable every 12 hours.

Once you've validated your wallet, you will find a link leading you to continue your KYC process. It is recommended to do this process on a mobile phone. You will find a QR code after opening the link.

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THAT'S IT!

If you have any further issues, don't worry, as we have fantastic community managers and tech-savvy community members who will help you. Solve your problems by joining our Syntropy Telegram group, or Syntropy Discord server.

Frequently Asked Questions

What is Amber Chain?

Amber Chain is a proof-of-authority (PoA) version of the Syntropy Chain, working as an active development environment facilitating the Syntropy Blockchain launch.

What’s the difference between a validator and a nominator?

As a Validator, you need to have extensive technical knowledge to run a validator node based on the Substrate framework. You will be required to perform computational validation on the network and produce blocks based on that information. Validators are rewarded at a higher interest rate because of their efforts with a minimum of 25% APY.

As a Nominator, you will need to delegate your stake to the network. This role does not require you to run any nodes and requires no active monitoring or technical knowledge. Nominators are rewarded with a lower interest rate compared to Validators.
What is the flow regarding staking, KYC, and claiming rewards?

The ideal flow as to how you should stake as a validator:

1. Stake tokens to the Validator contract using the dashboard. It is a two-step procedure consisting of contract approval and deposit. Don’t transfer your tokens to the smart contract directly.
2. Verification of your stake can take up to 30 minutes. Once your stake is verified an “E-mail verification” button at the top right of the dashboard will become available. Click on it and follow the on-screen instructions.
3. After you’ve verified your email address, you will be able to receive your access key by clicking on the “Get access key” button in the dashboard. Follow the on-screen instructions.
4. Run the Amber Chain node software with the keys you have received and produce heartbeat data (telemetry). You can check if your nodes show up on Amber Chain telemetry.
5. Once you have accumulated enough uptime in a 4-day period and continue to stake, you will be eligible to be whitelisted and will secure your validator position.
6. After you are whitelisted and have secured your position in the top 500, you will start to accumulate rewards which are calculated and displayed as total rewards every 30 minutes.
7. Rewards become claimable every 12 hours.
8. When you want to claim rewards, you must pass the KYC procedure.

Do I need to have the infrastructure ready?

You will need to prove you meet technical requirements once your validator node connects to the network.

You can find the minimum requirements and instructions on how to set up a validator node here.

What is the uptime requirement for a Validator

During the last four days, you must produce at least 50% of heartbeats to be whitelisted. Therefore it is possible to get whitelisted in two days. However, the requirements will gradually increase until we reach 99% uptime during the last seven days.

What are the Validator stake size limits?

The minimum stake is 20,000 NOIA tokens; the maximum stake is 200,000 NOIA tokens.

How long is the stake bonding period for a Validator?

There is no bonding period for Validators.

What wallet can I use with Metamask?

What wallet can I use with Metamask? You don’t have to create a Metamask wallet. If you are using a hardware wallet, such as Ledger or Trezor, connect your hardware wallet to the Metamask, using “connect hardware wallet” from the menu. See more info on how to do it in our documentation. If you still have difficulties, seek community help in our Discord or Telegram groups.

Is there a withdrawal limit for rewards?

No, there’s no limit.

When will I be asked to pass KYC? How does KYC work?

Every Validator has to pass the KYC procedure to be able to claim the rewards. During KYC, you will be redirected to a third-party website, where you will be asked to take a photo of your ID document as well as a selfie.

Are my tokens at risk due to slashing?

During Amber Chain, no slashing will occur for both Validators and Nominators.
Can anyone with a more significant stake than me push me out of staking?
Only those who stake below the maximum allowed token quantity on Validator can be pushed out by others with a more significant amount. Naturally, if you stake at the moment when all 500 slots are filled with maximum stakes, you will not receive rewards until someone else withdraws their stake and you occupy the free slot.

Disclaimer, Terms, and Conditions

Some countries will be excluded from receiving token rewards from Syntropy. Depending on your stake size, we might ask you to submit specific documentation to comply with KYC/AML regulations. Please familiarize yourself with Syntropy Staking Terms and Conditions by visiting https://www.syntropynet.com/disclaimer/staking.