Sonata Season 2 introduced a whole new channel experience - our next step towards multiplayer music onchain.
Among these changes was the addition of staking.
Staking NOTES is a new way to bet on channels and earn upside in the growth and curation happening within each one.
Staked NOTES are one of four factors that affect channel rankings, the others being number of curators, songs casted, and channel balance.
Today, there are over 33,617,577 NOTES staked.
Using the Sonata API - you can see staking numbers in realtime.
Click here to check it out!
What is Staking?
Staking allows you to bet on the future of a channel by locking NOTES in a specific channel in order to earn rewards.
In its current form, staking is instant. Stake NOTES to start earning when distributions are sent, and unstake at any time with no waiting period.
Your potential returns are based on two factors:
Number of NOTES tipped in the channel
The percentage your stake is worth in the total pool
Maximizing rewards will require close observation of channel metrics to ensure you are getting the most value per token staked.
What Are The Benefits of Staking?
Today, staking is available to every user by on each channel's page.
By staking your NOTES - you will be eligible to earn a pro-rata allocation of 50% of NOTES driven each time a distribution is made.
This distribution will also include 11,111 NOTES that we send equally to the top 10 Sonata supported channels. These distributions will happen at 12 UTC every Friday - giving stakers a clear way to earn.
Stakers do not need to claim or unstake their NOTES - these tokens will be sent directly to your address based on what percent of the total pool your stake represents, at the moment of distribution.
The more NOTES staked to your favorite channel, the more NOTES it earns each week.
Visit sonata.tips to start staking today!
*These numbers are subject to change in the future based on feedback and recommendation from the Sonata Council - a board made up of channel moderators of all sizes.
