Decentralized Computing Firm Fluence Introduces Staking Program With Community Incentives

CryptoNews.com

2024-09-20 00:41:33

Decentralization Staking

Fluence token (FLT) holders can now delegate their stakes to compute providers and share in the rewards. Last updated:

September 20, 2024 04:41 EDT

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated:

September 20, 2024 04:41 EDT

Why Trust Cryptonews With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews Decentralized infrastructure firm Fluency on Friday launched its staking program, inviting community members to earn rewards.

In a statement on Friday, the firm said it introduced a unique delegated staking model. This marks a significant departure from the traditional setup where only hardware providers could stake, it added.

Now, all Fluence token (FLT) holders can participate through delegating their stakes to compute providers, sharing rewards. This not only broadens community involvement, but also fortifies the network’s security.

The wait is over, FLT Staking is officially LIVE! 🎉
At @depinday, Fluence co-founder @TheTomTrow dropped the big news, marking a huge milestone for Fluence and our community.
Be part the cloudless computing revolution! Read on for your step by step guide👇 pic.twitter.com/kSTd42xvAP

— Fluence (@fluence_project) September 20, 2024

USD-Pegged Staking Rewards

When examined, Fluence’s approach contrasts with conventional cloud computing, as it utilizes a distributed data center network. This decentralization minimizes risks like single points of failure, enhances security and avoids data lock-in and censorship.

Also, Fluence set USD-pegged rewards and stakes at $10 per month per CPU core for rewards and $200 per core for staking. CPU core is the processing unit within a computer that performs computations and runs programs, akin to the brain of a computer.

This USD calibration offers stability for providers against cost fluctuations. The program supports various applications from blockchain nodes to AI models, showing the versatility of decentralized computing.

Fluence Expands Staking Opportunities Through Parasail’s Liquid Staking

The staking process, which requires a significant investment per CPU core, is made more accessible through partnerships like Parasail, which introduces liquid staking and staking pools.

In turn, this reduces the entry barrier for potential stakers. Fluence’s staking infrastructure is hosted on Arbitrum Orbit and managed by the Gelato network.

Additionally, Fluence’s approach involves top-tier data centers like PiKNik, Nebula and Kabat. As Fluence grows, it aims to expand its provider network, enhancing its platform’s usability for diverse DePIN applications.

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