Findora Network $FRA
How to stake Findora $FRA on StrataOne
What is Findora?
Founded in 2017, Findora is a hybrid UTXO / Account Model based blockchain network focusing on privacy using zero-knowledge proof cryptography (ZKP).
The network architecture consists of two blockchains and bridges:
Findora Native Chain
Findora Smart Chain
Prism — The Findora Native Chain / Smart Chain bridge allows users to send assets between the two blockchains. Prism is built into the Findora desktop and mobile wallets.
Findora Tokenomics
Findora uses FRA as it’s native cryptocurrency for consensus (staking/delegation and block rewards), governance and transaction fees.
FRA has a maximum supply of 21 billion, with a circulating supply of 4.6 billion as of June 2022.
Currently, transactions fees are set at 0.01 FRA. Dynamic transaction fees could be considered in the future with fees being paid to validators.
Further details of Findora’s tokenomics can be found here.
Where to buy FRA
FRA is available to trade on Gate.io and Kucion crypto exchanges.
You can also bridge assets from Binance Smart Chain such as BNB and BUSD using Rialto and swap for FRA on Findora’s native Fairy Swap DEX.
Findora Wallets
The two separate chains (Native Chain and Smart Chain) have their own wallets.
Metamask
As a dApp user and to transfer tokens on to the chain you’re going to need an Ethereum compatible wallet that allows you to configure the Findora network. For this, we recommend MetaMask.
You’ll need to setup the Findora network with the following settings:
RPC URL: https://prod-mainnet.prod.findora.org:8545 Chain ID: 2152 Currency Symbol: FRA Block Explorer URL: https://evm.findorascan.io
Findora Wallet
To stake and store / transfer assets on the Native Chain you’ll need the Findora Wallet. The Findora Wallet is available for desktop (Windows / Mac) and mobile (iOS / Andriod).
How to convert EMV-Wallet to Native wallet
Findora EMV token can be bridged to a native token using the prism found within the findora wallet app. you can also use your Metamask wallet to receive $FRA EMV token from kucoin then further use the prism option to convert to native token.
click on the Three horizontal dot as shown above to import key to FRA wallet.
To convert EMV token to native token you need to add the private key of your metamask address to your findora wallet.
copy wallet private key
click on PRISM to paste wallet key
Click the arrow until the direction is pointing from EVM to Native Wallet.
Click on select wallet, then “Add” to add your MetaMask wallet. Adding a wallet will require you to paste in your private key from MetaMask. We recommend creating a second account in MetaMask to use as an intermediary to add to the Native Wallet for better security, so you don’t need to paste your main wallet private key here.
3. Once the EVM-Compatible wallet is created and selected you add the Native Wallet address you want to send funds to. Clicking Address will allow you to select an address you have setup in the wallet, or you could paste in a different native address.
4. Finally select the amount and click next to initiate the transaction. Once the transaction has completed the FRA will be available in your chosen Native Wallet account.
Add wallet
Input Private key
Save my private key in the findora wallet
Then confirm
How to stake FRA
Staking/delegating Findora’s native FRA token is done on the Native Chain, which means to start you’ll need the Findora Wallet.
To get your FRA on to the Native Chain you may need to transfer it over from the Smart Chain first using Prism. This is done inside the Findora Wallet:
Stake, unstake and claim rewards from the Staking section in the Findora Wallet.
To stake, hit the STAKE button then select a validator from the list and enter an amount to stake:
Click on stake
inpute amount
select a Validator to deligate your stake
click on stake
FRA successfully staked under strataone
Things to note:
There is a 21 day unbonding period (21 days is approximate based on 113400 blocks) for undelegating your stake. You won’t be earning rewards or able to access your unbonding FRA during this period.
Validators are punished by slashing for poor uptime and double signing. Slashing takes a percentage of the staked FRA belonging to the validator and it’s delegators.. so it is important to choose a validator you can trust.
written by: Thompson (creator StrataOne)
Last updated
