FAQ

Table of Contents

Frequently Asked Questions

What is Blox?

Blox is an open-source, non-custodial Eth2 staking platform. We provide a convenient and secure way to stake ETH and maximize rewards, while ensuring you retain complete control over your private keys.

Why stake with Blox?

Our staking platform maximizes staking returns while minimizing staking risks. We developed a truly non-custodial solution that simplifies Eth2 staking, while ensuring that you alone own your private keys.

How do I stake with Blox?

Start by downloading our Desktop app, here. In order to set up a validator using the app, you will need a cloud account, crypto wallet and 32ETH. The entire process is easy and seamless, just use the in-app walkthrough and start staking in no time.

How much ETH do I need to start staking with Blox?

32ETH is the current minimum staking amount. In the future, we will introduce non-custodial staking pools and a lower minimum deposit.

How does Blox protect my ETH?

The fundamental principle behind Blox is that you alone retain control over your ETH and private keys, and that no vulnerabilities exist that would allow a third party to gain access to them. Notably, seed generation is completed locally and your validator key is segregated and protected in a remote signer that is solely accessible by you. We also guarantee optimal connectivity to the blockchain, and include slashing protection to avoid penalties and maximize your ETH returns. Learn more, here.

How does Blox protect against slashing?

Your personalized KeyVault remote signer includes a slashing protection mechanism. Attestation history is stored in Keyvault and each incoming signing request is examined and verified before signing.

Does Blox guarantee attestation rates?

We aim to keep our attestation success rate at 99.9%.

Does Blox have a native Token?

Yes, our native token is CDT. Learn more, here.

Will there be a token model implemented in Blox?

Yes, every time a new staker sends their ETH to the deposit smart contract, the yearly fee will automatically be used to purchase CDT tokens in the open market and burn them. The model will be implemented as soon as Eth2 Phase 0 is launched.

What will CDT be used for?

CDT usage will be rolled out in 2 phases; CDT will be burnt against staker’s annual fee payment. For every $1 collected in fees, 1$CDT will be automatically purchased in the market and burnt. In the future, CDT 2 will serve as a native token in Blox’s decentralized staking pools. Block producers will secure the network and enforce a governance layer while being incentivized with CDT 2 rewards for performing their assigned duties.

Yes, Blox.io has created, and is operating 2 different products; Blox Finance and Blox Staking.

Is the price denominated in ETH or USD?

Validator fees are denominated in USD, but paid using ETH. Regardless of ETH price fluctuation, the cost of staking with Blox is fixed at $180 USD/validator.

Is payment made in ETH or USD?

Payment is made in ETH, however the price is denominated in USD. This means that the purchase amount in ETH will depend on its value in USD at the time of purchase.

How much does it cost to run more than one validator?

There is an incremental 10% discount applied starting at the 6th validator. As an example, the pricing structure to create 20 validators looks like this:

 

validators 1-5: $180 each → $900

validators 6-10: $162 each → $810

validators 11-15: $145.8 each → $729

validators 15-20 = $131.2 each → $656

 

Total for 20 validators = $900 + $810 +$729 + $656 = $3095

 

And so on and so forth.

When is payment due?

Payment is due upon validator set up. Your validator will be activated once payment is made.

What happens after transfers are available in phase 1.5?

After transfers are available in phase 1.5 OR after 2 years after you’ve activated your validator (whichever happens first), the fee per validator will be $180/year. In the case that you created a validator in the months leading up to transfers in phase 1.5, you will not be charged again until a year has passed since you activated your validator. For example, a validator activated 1 month before transfers are available will have 11 months remaining on their subscription before renewal.

What is the payment process?

The fee is purchased in ETH and automatically converted into CDT. For every $1 collected in validator fees, $1CDT will be automatically executed via decentralized exchanges and then burnt. In short, you pay with ETH, at a fixed dollar amount.

What do validator fees have to do with CDT?

CDT is Blox’s native token and it will be used to drive decentralized staking pools. CDT will first be burnt against validator fees for Blox Staking, and later as a rewards mechanism for pool Block Producers.