Side (SIDE) Staking

About SIDE Protocol (SIDE)

Side Protocol is an innovative extension layer of Bitcoin, representing the first fully Bitcoin-compatible Delegated Proof-of-Stake (dPoS) Layer 1 blockchain. It is designed to shape the future of Bitcoin finance by enabling developers to create secure, high-performance decentralized applications (dApps) within a Bitcoin-centric ecosystem. The protocol aims to onboard billions of users globally and establish BTC as the definitive global currency.

What Makes SIDE Protocol Special?

Side Protocol introduces several innovative features that enhance the Bitcoin ecosystem:

1. Bitcoin Compatibility

• Seamless Integration: Side Protocol maintains full compatibility with Bitcoin, allowing for seamless integration and interaction with the Bitcoin network. This ensures that dApps built on Side Protocol can leverage Bitcoin's security and liquidity.

2. Delegated Proof-of-Stake (dPoS) Consensus Mechanism

• Enhanced Scalability: Utilizing a dPoS mechanism enhances network scalability and transaction throughput while maintaining security and decentralization. Delegates are elected to validate transactions, reducing the energy consumption associated with traditional Proof-of-Work systems.

3. Secure and High-Performance dApps

• Robust Platform: The protocol provides a robust platform for developers to build decentralized applications that are both secure and efficient, leveraging the strengths of the Bitcoin network. This opens up new possibilities for financial services and applications within the Bitcoin ecosystem.

4. Global User Onboarding

• User-Friendly Interfaces: By focusing on user-friendly interfaces and scalable solutions, Side Protocol aims to facilitate the widespread adoption of Bitcoin as a global currency. The protocol's design considers the needs of billions of users, ensuring accessibility and ease of use.

SIDEStaking FAQ

How much can I make staking SIDE?

The return from staking SIDE varies based on the network's overall staking participation and specific validator commission

How do I receive my SIDE rewards?

SIDE rewards need to be claimed. Visit the SIDE Dashboard to claim your rewards: https://station.side.one/staking

When can I start earning rewards with SIDE?

You can start earning staking rewards once your SIDEtokens are successfully delegated to a validator

What are the risks around staking SIDE?

Staking SIDE comes with risks like slashing (penalty for a malicious validator), price volatility, and liquidity risk (inability to sell during the lock-up period).

What consensus algorithm does SIDE use?

Side Protocol utilizes a Delegated Proof-of-Stake (dPoS) consensus algorithm. This mechanism enhances network scalability and transaction throughput while maintaining security and decentralization.

What are the tokenomics of SIDE?

Read all about SIDE tokenomics here.