Fetch.ai is building a decentralized machine learning platform based on a distributed ledger, that enables secure sharing, connection and transactions based on any data globally.
And for anyone to be able to bring their part to building this decentralized ecosystem and economy better and faster, it also provides the right open-source infrastructure and development tools to do so.
What is Fetch.ai?
Fetch.ai is an open-access decentralized machine learning blockchain-based network that was created with the idea to enable the development and growth of the digital economy without human interference. The network connects devices and services to the Internet of Things, but also facilitates the involvement of other agents, such as people.
Fetch.ai creates tools and a suitable infrastructure that can support the development of a decentralized digital economy based on artificial intelligence. The network connects people, devices and services, enabling the sharing of data and cooperation. The Fetch.ai economy is composed of suppliers and consumers, while the economy revolves around different agents and ecosystems with various purposes and use cases.
What is Staking
Staking is earning semi-passive income from your FET tokens while contributing to the Fetch network’s operations. You delegate your tokens to one or more validators who have an important role in maintaining the integrity of the network. It is important to do due diligence on the validators you choose.
What is a FET Token
A FET token is a digital currency. The FET token is the primary medium of exchange within the Fetch.ai ecosystem. If you want to pay for services provided by Fetch.ai, you pay in FET. Much like you use USD to buy services in the United States.
How to get FET tokens?
FET is available on all the following exchanges
What are the benefits of staking FET?
Staking helps secure the network by enabling validation nodes and services. Those who stake their FET are rewarded with a variable interest rate of 10% annually and have the opportunity to get involved with MTLX, ATMX, and any other Fetch.ai network tokens that become available in the future.
How to choose a validator and delegate?
We strongly recommend that you do your own research (DYOR) before selecting validators to delegate your tokens with. Check their history of providing validator services on other chains and whether they have a website or social media account that can be contacted.
Commission rates are set by validators and it is important to note that the commission will impact the overall APR. For example: if you earn 10 FET as rewards and the validator takes 10% commission, you will receive 9 FET with 1 FET as commission going to the validator for the services provided.
Terminet is a professional Staking and Validator service provider that can ensure stable and secure operation of nodes with only 5% commission.
Where can I explore the network?
If you want to track your transactions on the Fetch.ai network, you can do it here.
What are the risks of delegating on Fetch.ai?
If validators double sign, are frequently offline or do not participate in governance, their staked FET (including FET of users that delegated to them) can be slashed. The penalty depends on the severity of the violation.
We have our own capital on the line, so we are fully incentivized to do our best to prevent such events. However, delegators must be aware that this slashing risk will always exist.
How long does it take for an FET delegate and undelegate?
Delegation is instant.
From the moment you initiate the unbonding process, it takes 21 days to unstake. During this time you will not earn rewards. When the process is complete, you can transfer/trade your FET tokens.
Once delegated, tokens can only be redelegated to another validator, or unbond in order to be returned to their original account. It's important to note that those two operations take 21 days to complete, period in which the involved tokens will be unavailable.
How are rewards disbursed?
You need to withdraw their rewards from the protocol and then decide to delegate if you wish to compound rewards.
Terminet is never in control of the rewards.
If you have any questions about our services, please do not hesitate to contact us. We are happy to talk to anyone.