The Evolution of Harmony's Staking Ecosystem
Harmony has taken a significant leap forward by enabling staking at the smart contract level. This groundbreaking update allows users to stake ONE tokens using MetaMask while unlocking new possibilities for developers and delegates alike.
Since Harmony launched open staking in May 2020, the network has witnessed explosive growth with:
- Over 4.4 billion ONE tokens staked
- 26,000+ active stakers
- 160 unique validator pools
Previously, staking was limited to specific wallets like the Harmony Chrome Extension and MathWallet. This restriction created barriers for MetaMask users and constrained developers from building customized staking solutions.
Key Benefits of Smart Contract Staking
- Wallet Flexibility: Stake directly from MetaMask and other favorite wallets
- DeFi Integration: Developers can create staking derivatives to unlock liquidity from 4.4 billion staked ONE tokens
- Custom Reward Structures: Validators can implement unique reward distribution models
- Liquidity Solutions: Resolves the DeFi vs. staking liquidity competition
👉 Discover how staking smart contracts revolutionize blockchain participation
Technical Implementation
The precompiled staking smart contract resides at address 0xfc on shard 0 and supports three core operations:
- Delegate
- Undelegate
- Collect rewards
Developers can interact with these functions while paying standard gas fees, achieving identical results to traditional staking transactions.
Example Smart Contract Code
// Sample interface for staking precompiles
interface IStaking {
function delegate(address validator, uint256 amount) external;
function undelegate(address validator, uint256 amount) external;
function collectRewards(address validator) external;
}Delegator's Guide to MetaMask Staking
Setup Process
- Install MetaMask (Harmony setup guide)
- Connect to Harmony's staking dashboard
- Select "Use MetaMask Wallet" option
- Choose validator and stake (minimum 100 ONE)
Migration Options
Secure Transfer Method:
- Create new MetaMask account
- Transfer assets using "Send" function
- Wait for 7-epoch unbinding period if unstaking
- Restake from new address
Harmony Network Overview
Harmony serves as an open platform for:
- Cross-chain asset transfers
- Decentralized identity solutions
- Blockchain governance systems
- NFT ecosystems
👉 Explore Harmony's multi-chain vision
Frequently Asked Questions
Q: What's the minimum staking amount?
A: You need at least 100 ONE tokens to stake.
Q: Can I stake with multiple validators?
A: Yes, you can distribute your stake across multiple validators.
Q: How long does undelegating take?
A: The unbinding period lasts approximately seven epochs (about 5-7 days).
Q: What's the current staking APY?
A: As of publication, stakers earn between 10-11% annually.
Q: Can I use hardware wallets with MetaMask for staking?
A: Yes, Ledger Nano S/X devices can be connected to MetaMask for enhanced security.
Q: Are there risks to importing private keys into MetaMask?
A: We recommend transferring assets to a newly generated address instead for maximum security.