Submit a staking request in your PLT wallet and receive a reward approximately every 3-day cycle once the staking is executed.
PLTs that can be staked are PLTs on the pallet chain (pPLTs).
PLTs transferred from exchanges are PLTs on ethereum (ePLTs), so you need to bridge them on the PLT wallet and convert them to PLTs on the pallet chain (pPLTs).
Staking Mechanism
Palette staking is executed in cycles of every three days(*), and the initial reward is earned after the three cycles shown in the figure below. Once staking is completed, you can continue to earn rewards each cycle.
For example, the cycle begins at 12:03 pm on September 13, so if you submit your application by 12:03 pm on September 16, you will receive your first reward on September 22 (green schedule in the figure above).
(*) The staking reward cycle switches every time 17,280 blocks are generated on the Palette chain.
Block generation occurs approximately every 15 seconds, thus 17,280*15 seconds = 72 hours (3 days).
Since the block generation time may vary, the timing of reward distribution may also vary.
Cycle 1: Staking Application
PLTs that apply for staking during this cycle will be locked up and cannot be released. Also, no matter when the application is submitted within the same cycle of 3 days, it is possible to proceed to the next cycle (lock-up) at the cycle changeover.
Cycle 2: Lock-up
In the next cycle after the staking application is completed, a 3-day lock-up is set for the PLT applied for. The lock-up cannot be released.
Cycle 3: Staking Execution
Once the lock-up period is completed, staking begins, and staking rewards will be distributed at the end of each subsequent cycle.
While staking is in progress, you can apply to remove staking, and the lockup will be removed at the end of the cycle in which the application is made. Rewards will be distributed for the cycle in which the staking is requested to be unlocked.