Introduction to LOOM Validator¶
LOOM is a sidechain network for Ethereum. LOOM tokens can be delegated on the PlasmaChain which is LOOM’s hub for transacting between it’s sidechains and Ethereum mainnet. LOOM uses a Plasma architecture to inherit the security of Ethereum in its sidechains.
At a Glance¶
|Staking Asset||Expected Returns||Reward Schedule||Mythos Fee||Min. Stake|
|LOOM||3.75-15% annualized||every 2 weeks||25%||None|
Mythos LOOM validator:
Stakers with Mythos will receive rewards denominated in LOOM as an annualized percentage of the total amount of LOOM staked. The reward percentage you receive depends on the length of your locktime as follows:
|Locktime||Protocol Reward||Your Reward|
|2 weeks||5% annual||3.75% annual|
|3 months||7.5% annual||5.625% annual|
|6 months||10% annual||7.500% annual|
|12 months||20% annual||15.000% annual|
Mythos receives a percentage of the reward and you keep the remaining amount. Rewards are paid out by the protocol every two weeks. You can withdraw the rewards anytime after payout.
Staking Example 1¶
Say you delegate 1,000,000 LOOM to Mythos with a Locktime period of 6 months and assume the Mythos Fee is 25%, you will receive an annualized reward of 7.5% on your delegated LOOM. With reward payouts every 2 weeks, you can assume 13 payouts of 2,884.84 LOOM per two week cycle or 37,500 LOOM after 6 months.
Staking Example 2¶
Likewise, for a 12 month delegation of 1,000,000 LOOM to Mythos you would receive 15% or 150,000 LOOM. This amount would be paid out every 2 weeks in proportianl increments for the duration of the 12 month delegation locktime.