Concordium is a Proof-of-Stake blockchain where token holders can earn Concordium (CCD) tokens by staking their CCD’s. However, operating as a validator node (called a “baker” in the Concordium ecosystem) is often difficult, time-consuming and requires in-depth technical knowledge. We at Amdax can help you with that. By delegating your stake to us, you can receive rewards and help secure the network, without any of the hassle of operating your own node.
Owners of digital assets from proof of stake (PoS) protocols can do more than simply hold their tokens in a wallet. One of their options is to delegate their stake — a process of contributing their tokens to a validator node in order to conduct validation. Delegation is the name of the process that enables staking your tokens without running your own node. Delegation presents an opportunity for token holders to support and participate actively in securing blockchain networks. In exchange, they may earn rewards in the form of more tokens.
Maintaining a node is not for everyone. It is time-consuming and requires in-depth technical knowledge. Delegating your CCD tokens to Amdax's baker node has many advantages. As a trusted partner of Concordium, we are fully focused on securing the network. We are constantly monitoring our node and updating the node with the latest software to secure a high uptime. The higher the uptime, the higher the rewards.
By delegating the CCD tokens to a trusted baker on the protocol, your tokens are put to work. When delegating your stake as a CCD token holder, you can support and participate actively in securing the Concordium blockchain.
In exchange for locking the value of your CCD tokens to the Amdax Financial Services baker nodes (ID – 1915 & 1916), you will receive staking rewards in the form of CCD tokens. With the Amdax node infrastructure, we strive to generate the most optimal staking yield.
As of June 2022, holders of CCD tokens can earn rewards by allocating their tokens to the baker node of AMDAX Financial Services. In exchange for locking the value of the tokens to Amdax’s baker node, the holders of CCD tokens earn a percentage of the rewards earned by the baker.
Amdax was founded with a fundamental belief in the promise of cryptocurrencies and blockchain technology. Amdax was a participant in the private sale of Concordium and has been the exclusive OTC (over-the-counter) provider for Concordium. Concordium recognizes our reliability and experience with the Concordium ecosystem and has named Amdax a Concordium Trusted Partner.
All CCD holders. You do not have to be an Amdax client to delegate your stake.
Depends on serveral factors, such as the number of CCD tokens that are delegated,the selected baker, and the reliability of this baker. The reward also depends on how much is being staked by the baker in total. You can find the current Baker and Delegator APY’s on the CCDScan dashboard. Rewards are distributed daily at 08:00 AM UTC.
There is a 14-day cool-down period. This is a period in which you cannot change the delegated amount or switch to another baker. This cool-down period is activated when you decrease the delegated amount or stop delegation entirely.
Amdax has been baking with over 200 million CCD since the genesis block of the Concordium Blockchain and is highly experienced in running baker nodes. The annual staking reward percentage has varied between 9.5-15.5%.
Baker ID: 1915
Amdax Financial Services 1915
Baker ID: 1916
Amdax Financial Services 1916
1. Download the Concordium Mobile Wallet
Follow this guide and the below steps to start staking. Make sure to select ‘Mobile Wallet’.
Go to the Accounts screen.
Tap on the balance area of the account you want to delegate from or tap More.
Tap the menu and tap Delegation. If you are delegating for the first time, you see some information about delegation. Tap Register delegation.
If you want to delegate to a specific pool tap Baker pool and enter the Baker ID of the pool owner. If you are delegating to passive delegation, tap Passive delegation. Tap Continue.
You can see your balance available to delegate. Enter the Amount you want to delegate in the field. And tap Yes, restake to restake any rewards or tap No, don’t restake if you don’t want to restake rewards. If you do not restake, rewards are deposited to your disposable balance. Tap Continue.
Review the information in the transaction overview. When you are satisfied, tap Submit delegation transaction.
Once the transaction is submitted you see a confirmation screen. Tap Finish to complete the action.