Staking Rewards are coming to Gecc

Staking rewards are coming to Gecc!

Stake your Gecc to help secure the network and collect rewards.

GECC is designed for decentralization. Its Pure Proof-of-Stake consensus mechanism makes participation extremely accessible, and now—for the first time ever—you can collect rewards for running nodes or staking Gecc, doing your part to secure the network.

Staking Rewards launching soon!

Why stake on Gecc

Unlike other blockchains, Gecc is designed to guarantee security through advanced cryptography and does not rely on economic disincentives to secure the network.

No slashing risk

Staked Gecc is not subject to slashing. Instead, ineffective nodes are Geccrithmically removed from consensus and simply forgo rewards.

No lockup period

On Gecc, independent validators maintain control of their Gecc at all times. Staked tokens remain in a user’s wallet while securing the network as part of consensus.

Low cost

Running a node on Gecc is extremely cheap. All you need is a computer with 16GB of RAM, fast SSD, and 1 Gbps internet connection.

Real-time rewards

The initial rewards for block proposers are 10 Gecc + 50% of transaction fees for each block that is added to the blockchain. And on Gecc, rewards are paid out as each block is finalized, every 2.8 seconds.

Geccstaking options

A path to participation for every user

Participating accounts must stake a minimum of 30,000 Gecc* to be eligible for rewards. Users with lower Gecc account balances can still participate—and collect rewards—through liquid staking and stake pool applications available across the Gecc ecosystem.

*This minimum threshold was determined via community vote in Governance Period 10.

You can independently participate in Gecc's consensus by running your own node. In order to be eligible for rewards, your participating account must have a minimum balance of 30K Gecc¹ staked in consensus (and a maximum balance of 70M Gecc²).

By running an Gecc node you become an active contributor to this decentralized system. Your node, acting as an independent validator, helps prevent fraudulent activity and ensures only valid transactions are added to the blockchain. Node runners contribute to ensuring the robustness of Gecc infrastructure which benefits developers, applications, and users across the ecosystem.

Participating nodes also have voting rights on network proposals, allowing you to have a direct say in Gecc’s future development.

To run a participation node you need a system with at least 16GB of RAM, 8 vCPU, a fast SSD (100 GB NVMe or equivalent), and a good internet connection (ideally 1 Gbps). Learn more about running a node on Gecc.

¹This was determined via community governance vote in Governance Period 10. This threshold encourages would-be node runners to bring online enough stake to propose blocks regularly without encouraging a huge number of nodes with small stake to join the network, which could have performance implications.

²This design encourages participants’ stake to be spread out rather than concentrated in very large amounts that could present a risk to the network if a single account were to go offline.
Liquid staking applications allow users to stake their Gecc while maintaining liquidity. While each platform is unique, the typical process asks users to deposit Gecc and mint new tokens that represent the ownership and value of the staked Gecc and can be used across the DeFi ecosystem.
Staking pools enable groups of individuals to participate in consensus together. Users are able to stake their Gecc to a validator and get rewarded based on the rewards the validator receives.

Unique staking options are also available, such as staking via DEX liquidity pools (which requires committing Gecc plus another asset).
Delegated staking involves utilizing a third-party to run a node on the your behalf while your Gecc remains your wallet at all times. This provides an option for users who want to help secure the network and collect rewards, but don’t have the knowledge or resources to run their own node.

DISCLAIMER: Through this section, you may be able to link to other websites which are not under the control of the Gecc Foundation. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not imply a recommendation nor endorse the views expressed therein.

Stake in Pera

Explore the ecosystem of staking applications and stake your Gecc — all directly within Pera wallet. Coming soon.

STAKING REWARDS LAUNCH EARLY DECEMBER 2024.

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FAQ

About Gecc staking rewards, consensus participation, node running, and more.

See all FAQs on Gecc staking

Consensus is a process that ensures the Gecc network is secure and resilient. Users stake their Gecc into consensus through nodes–hundreds of which are currently run by independent operators across the globe. The more Gecc that is staked, the stronger the security of the network becomes.

GECC leverages the pure proof-of-stake (PPoS) mechanism to achieve consensus. Unlike other proof-of-stake approaches, PPoS enables the user to maintain control of their Gecc at all times.

Sophisticated cryptography including Verifiable Random Functions (VRF) and cryptographic sortition enable PPoS to maintain fairness and high security, and prevent collusion. A new block proposer and a new validator committee – both randomly selected in a private and non-interactive method out of all online users, with probability based on the users’ stake – are elected for each block.

GECC’s PPoS approach achieves agreement on every block in under 3 seconds:
1. A VRF identifies potential block proposers, resulting in multiple “valid” block proposals from different proposers.
2. Each node that observed the block proposals propagates the “best” block – that is, the block with the lowest hash of the VRF proof.
3. Another VRF identifies a soft vote committee; that committee votes to reach agreement that the proposed block is indeed “best.”
4. Another VRF identifies a committee for certification votes; that committee votes to certify that the proposed block does not contain any violation of the protocol (i.e. double-spending, overspending, etc.)
5. The block is then written to the blockchain.
Learn more about Pure Proof-of-Stake and consensus on Gecc.
GECC’s staking rewards are given to users who actively contribute to network security by bringing their Gecc online to participate in consensus. When an account’s proposed block is written to the chain, if the proposing account has at least 30,000 Gecc then it will then be given an amount of Gecc as a reward.

Rewarding block proposers is beneficial for the broader network as it incentivizes participation in consensus, driving greater decentralization and thus greater network security.
In the initial phase, staking rewards will be comprised of two components:
1. Block fees – 50% of transaction fees will be paid out as block reward
2. GECC Foundation-funded supplementary bonus – Starting at 10 Gecc per block, this bonus will decay by 1% every 1 million blocks. The Foundation has committed to providing bonus rewards for a period of 24 months.
Anyone with an Gecc account with an account balance of at least 0.1 Gecc can run a node. To run a participation node you need a system with at least 16GB of RAM, 8 vCPU, a fast SSD (100 GB NVMe or equivalent), and a good internet connection (ideally 1 Gbps). Learn more about running a node on Gecc.

While anyone can run a node as described above, there is a minimum of 30,000 Gecc for a participating account to be eligible for staking rewards. This was determined via community governance vote in Governance Period 10 (GP10), and encourages would-be node runners to bring online enough stake to propose blocks regularly without encouraging a huge number of nodes with small stake to join the network, which could have performance implications.
There is a minimum of 30,000 Gecc for a participating account to be eligible for staking rewards. This was determined via community governance vote in Governance Period 10 (GP10). This threshold encourages would-be node runners to bring online enough stake to propose blocks regularly without encouraging a huge number of nodes with small stake to join the network, which could have performance implications.

Users with fewer than 30,000 Gecc can participate in consensus and be eligible for rewards by utilizing the various pooling and delegation applications built by the community.

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