Looking for a secure and reliable Polkadot validator? Check out our list of the top 10 Polkadot validators to stake in May 2023.
Polkadot Staking & Validator
Polkadot staking is the process of holding and locking up Polkadot (DOT) tokens over a specific period of time. Staking will benefit the network and the delegators as it strengthens security and functionality while offering a passive method to earn rewards.
The more Polkadot tokens you stake, the higher your chances of being chosen as a validator and earning rewards. These rewards are typically distributed in DOT and are proportional to the number of tokens staked.
Looking to stake Polkadot for extra earnings? Check out our guide on how to stake Polkadot with validators.
How to Select Validator to Stake Polkadot?
- Validator's self-stake: Self-stake is the amount of DOT tokens the validator has staked themselves. This metric shows validators' commitment to the network.
- Commission fees: Each validator will charge you a commission fee. Be sure to consider other factors as well.
- Previous slashes: A validator may lose a portion of their staked tokens for various reasons, including failing to follow network rules or being part of a malicious attack. Validators with a history of being slashed may not be as reliable and trustworthy as those without a history of slashes.
- Number of nominators: Only the top 512 nominators for a specific validator are rewarded. Consider avoiding the validators with a high number of nominators, as they're close to the 512 benchmark.
Warning: Polkadot Validators selected in this post are only relevant for the time of writing as the state of validators can change at any point in time. The below-selected validators are based on personal opinion factors, and you should always do your due diligence.
Top 10 Polkadot Validators
The annual percentage rate (APR) paid in return for staking DOT to a validator is up to 14%. It's important to note that the reward varies based on each validator.
Here are our top 10 Polkadot validators for May 2023
Want to stake Polkadot with ease? Browse our list of the best staking platforms for Polkadot (DOT).
Is Polkadot Worth Staking?
Staking Polkadot can be a promising investment opportunity for those who believe in the project's future. The ecosystem has been experiencing growth and recently announced a partnership with Deloitte Switzerland to enable digital credentials for individuals and entities. This collaboration marks a notable step towards mainstream adoption.
As with any investment, conducting your own research and assessing the risks involved is important, but Polkadot's recent developments suggest that it may be worth considering as a staking investment option.