The Creator Staking system has two main objectives: grow the network, and improve curation. Here, we will look at how the system functions.
Heavy inspiration was taken from the Dapp Staking system implemented on Astar Network, aimed at incentivizing developers to build applications on the network. Creator Staking expands this idea to include creators of content and communities, as those are also very valuable to Subsocial.
There are two ways to participate in Creator Staking, and you can do both at the same time:
Lazy Staking is simply staking your tokens to support your favorite creators, giving you and them rewards everyday
Active Staking allows you to boost your rewards by up to 3x by actively participating in the network and engaging with creators and content
Token holders can start staking here. The minimum amount that users can stake is 100 SUB, and they will need to have at least 10 SUB left over after staking.
Creators of applications, content, and communities can register as Creators in the Creator Staking system, allowing token holders to stake towards them. If you are a creator that would like to register, fill out this form. In the future, creator registration will likely become permissionless, or take place through on-chain governance, though we are waiting to see how the system performs.
Staked tokens will be subject to a roughly 7 day unbonding period in order to unstake them. After the unbonding period, another transaction will be required to fully unlock the tokens.
While Subsocial does not need staking for network validation (as it is secured by Polkadot), the implementation of Creator Staking will still positively benefit the network, by transferring token share from those are not participating in network growth, to those that are, as well as aiding in network curation and incentivising high quality creators.