To ensure that more users can benefit from co-staking offers, we have set a claim cap of up to two offers per IO account.
FAQs
We’ve compiled answers to frequently asked questions about co-staking on io.net, including troubleshooting tips and guidelines to help users navigate the platform.Getting Started with Co-Staking
Q: Why is the 'Create Co-Staking Offer' button greyed out for my device?
Q: Why is the 'Create Co-Staking Offer' button greyed out for my device?
Q. Can a person co-stake on multiple devices?
Q. Can a person co-stake on multiple devices?
Yes, co-stakers can participate in multiple devices simultaneously. However, you can only claim offers from two devices at any given time. This ensures fair distribution and prevents one person from monopolizing multiple co-staking opportunities.
Q. Can I co-stake on my own device?
Q. Can I co-stake on my own device?
No, device owners cannot co-stake on their own devices. This rule is in place to prevent users from bypassing staking requirements, such as the minimum self-staking threshold. Co-staking is designed to foster collaboration between independent parties.
Unstaking involves a 7-day waiting period followed by a 14-day cooldown period. Funds cannot be used during the cooldown, and rewards are paused during this time.
Co-Staking Terms & Rules
Q. How many co-stakers can a device have?
Q. How many co-stakers can a device have?
Each device can have only one co-staker per offer. Co-staking agreements follow a one-to-one structure:
- 1 device owner → 1 co-staker
Q. Are the identities of co-stakers or device owners visible?
Q. Are the identities of co-stakers or device owners visible?
No, identities are anonymized within the marketplace. While users can view device specifications and staking terms, personal details of device owners or co-stakers are not disclosed.However, wallet addresses are visible on the blockchain, but they do not directly reveal the identity of the parties involved.
Q. Can I change the terms of a co-staking agreement after it has been accepted?
Q. Can I change the terms of a co-staking agreement after it has been accepted?
No, once a co-staking offer is accepted, its terms are locked in via a smart contract. You cannot modify the stake amount, reward split, or other conditions after activation.If changes are needed, you must:
- Cancel or close the existing offer.
- Create a new offer with the updated terms.
Withdrawing & Unstaking
Q. How do I unstake and withdraw funds from co-staking?
Q. How do I unstake and withdraw funds from co-staking?
To withdraw your staked funds:
- Click “Unstake” - this initiates a 7-day waiting period where your tokens stop earning rewards.
- After the waiting period, your stake enters a 14-day cooldown period.
- Once the cooldown ends, your tokens will be available for withdrawal.
Risks & Performance Considerations
Q. What if the device I co-staked on performs poorly or goes offline?
Q. What if the device I co-staked on performs poorly or goes offline?
io.net has a slashing mechanism that penalizes underperforming devices. If a device frequently goes offline or fails to meet performance requirements, both the device owner’s and co-staker’s stake may be slashed.To minimize risk, always select reliable devices before co-staking.
Slashing means forfeiting part of the staked amount as a penalty.
Q. How does co-staking compare to traditional staking?
Q. How does co-staking compare to traditional staking?
Unlike traditional staking, where tokens are delegated to validators, co-staking on io.net directly stakes tokens onto a specific device.Key differences:
- Co-stakers share the risk of slashing.
- Rewards and conditions are set in a smart contract.
- It promotes a collaborative staking model rather than simple delegation.
Troubleshooting & Support
Q. What should I do if I experience an issue not covered in the FAQs?
Q. What should I do if I experience an issue not covered in the FAQs?
If you encounter a problem, such as:
- A transaction error
- A device not appearing in the marketplace
- Co-staking issues
- Ensure you’re using the official io.net platform.
- Verify that your wallet is properly connected.
- Clear your browser cache or try a different browser.