Delegating Stake in Concordium
Earn Concordium tokens, without hassle
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.
AMDAX also provides custody and staking services for clients with a minimum investment of €25.000. If you are interested in our services please contact us.
What is delegation?
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.
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.
- Available for:
All CCD holders. You do not have to be an AMDAX client to delegate your stake, and there is no minimum staking amount required to stake your CCD.
The height of the rewards depends on several 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.
- Minimum staking amount:
There is no minimum amount required to stake your CCD tokens. Please keep in mind to have sufficient CCD tokens available in your disposable balance to cover transaction fees.
Why choose delegating stake?
Staking, the easy way
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.
You help secure the network
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.
You earn CCD tokens
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.
Why choose AMDAX?
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.
How to start staking with AMDAX?
Staking your CCD can be done using the mobile wallet or desktop wallet. Below you can find the instructions for the mobile wallet. The FAQ provides the instructions for using the desktop wallet.
You can start staking with AMDAX by following these steps:
- 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.
Once the transaction is finalized, the delegation is effective from the next pay day. You can see the delegation in the account list and on the account card.
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%.
|Node name||AMDAX Financial Services 1915||AMDAX Financial Services 1916|
Everyone with a Concordium desktop wallet and CCD tokens can start with delegating their stake. There is no minimum amount of CCD required to start staking.
You can start staking with AMDAX on your desktop wallet by following these steps:
- Download the Concordium Desktop Wallet.
- Create a wallet.
- Follow this guide and the below steps to start staking.
- Go to accounts and select the account on which you want to delegate tokens.
- Click more options then select register as a delegator.
- Select Delegate to pool.
- Choose one of the AMDAX Financial Services baker pools (ID – 1915 & 1916). Click continue.
- Enter the amount that you want to delegate and choose whether rewards should be redelegated or not. Click continue.
- A message says waiting for device. Please connect your ledger. Connect the Ledger device to the computer and enter your PIN on the Ledger device.
- Press the right button to navigate to the Concordium app, and then press both buttons to open the app. The Ledger says Concordium is ready. Wait for the message Ledger Nano S is ready in the Desktop Wallet and select submit.
- On the Ledger device, a message says review transaction. Verify that the sender account is correct and navigate to the right. Verify that the Ledger shows the correct amount to delegate and navigate to the right. Verify that the restake preference is correct and navigate to the right. Verify that the delegation target is correct and navigate to the right.
- The Ledger device says sign transaction. Press both buttons to sign the transaction. The Ledger device says Concordium is ready.
- In the Desktop Wallet, you can see that the transaction has been submitted to the chain. Select finish.
Rewards are distributed daily at 08:00 AM UTC.
When you decide to start delegating your stake to a node, the baker of the specific node will receive a fee of 10% of the staking rewards. Please note that all nodes in the Concordium ecosystem charge the same fee of 10% of the staking rewards.
There is a 14-day cool-down period. This is a period where you cannot change the delegated amount or switch to another baker. Note that this cool-down period is activated when you decrease the delegated amount or stop delegation entirely. After this period has passed the CCD tokens can be withdrawn.
Delegating your CCD tokens is non-custodial. This means that you are always in complete control of your private keys and tokens throughout the staking process.
However, please note that staking crypto comes with risks. By staking your CCD tokens, you cannot sell your position. In that case, you must first unstake your crypto.
Delegating your CCD tokens is non-custodial. You are always in complete control of your private keys and tokens throughout the staking process