If you only need xDai coins for transactions, what is STAKE used for?

STAKE is a volatile token used as a staking token to protect the xDai chain. It enables delegated staking and community participation in xDai consensus.

You do not need STAKE to use the xDai chain for regular transactions. You only need STAKE if you want to be a validator or delegator on the xDai chain.

More on the Dual Token Model​

How do I get STAKE?

• From another user on the Ethereum Mainnet (Wallet transfer, airdrop, payment)

• From a centralized exchange. STAKE is offered at BitMax and others

• From a decentralized exchange. Stake is offered at UniSwap and others.

• For a full list see https://www.coingecko.com/en/coins/xdai-stake#markets

What is the STAKE contract address?

The Ethereum Mainnet contract address for STAKE is: 0x0Ae055097C6d159879521C384F1D2123D1f195e6​

I've got STAKE but can't find it in my wallet.

You may need to add a custom token - Instructions for doing this with MetaMask.

I want to stake STAKE Now! Is it possible?

Yes - with EasyStaking on the Ethereum Mainnet.

When does public staking start on xDai?

Public staking is scheduled to start in Q4 2020.

How much STAKE will I need for public staking?

The current projected minimum amounts needed to validate or delegate on the xDai chain.

• Validators: 20K STAKE

• Delegators: 1K STAKE

What is the STAKE Marketcap?

You can find information on the STAKE Marketcap and supply here: https://www.coingecko.com/en/coins/xdai-stake​

How do I transfer STAKE from the Ethereum Mainnet to the xDai chain?

When public POSDAO staking on xDai begins, you will need to move your STAKE to xDai in order to use it there. We will provide detailed instructions as public staking approaches.

Currently, you can bridge STAKE from Ethereum to xDai using the OmniBridge.

Why is STAKE an ERC677?

ERC677 is very similar to an ERC20, but includes additional functionality. We use the transferandCall functionality to enable easier bridge conversions, moving STAKE from the Ethereum Mainnet to the xDai chain and back.

For more information see the EIP677 standard https://github.com/ethereum/EIPs/issues/677.

What is multi-chain staking?

xDai is the first developed use-case for STAKE. However, it may be adopted by other chains in the future and used as a staking token for their consensus as well. POSDAO consensus is an algorithm we’ve developed that may be adopted by other chains, and those chains would have the opportunity to also incorporate a ready-made solution with STAKE to protect their chain.