Are you in search of the best SUI validators to stake? We've got you covered with our updated list of the top 10 SUI validators for May 2023.
SUI Staking & Validator
To stake SUI, a delegator needs to delegate a specific amount of SUI tokens to a validator. This act helps fortify the network's security while ensuring transactions are validated.
When users participate in staking, they can earn rewards in SUI tokens. The rewards earned are directly proportional to the number of SUI tokens staked.
How to Select Validator to Stake SUI?
Here are 4 key metrics to look for when you pick a validator to stake SUI:
- Commission: Fee charged by the validator for staking services.
- Stake: The total SUI staked by the validator and his/her/their delegators.
- Voting power: Voting power refers to the proportion of tokens a token holder has delegated to a validator. In a DPoS system, not everyone can be a validator - token holders can 'delegate' their tokens to validators, effectively giving them the power to participate in the network's consensus process.
- Checkpoint: Currently unavailable. We'll keep you updated when it's live.
Warning: All SUI validators selected in this post are active and only relevant at the time of writing. 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. Highly recommend everyone constantly monitor staking rewards on SUI Explorer or SUI Wallet.
Top 10 SUI Validators - May 2023 Updated
The best 10 SUI validators are selected based on voting power, total SUI staked, APY, and commission. The current annual staking SUI (APY) yield ranges from 7.5% - 13%, minus a validator's fees.
Based on the previous factors, here are the top 10 SUI validators for May 2023.
Is SUI Worth Staking?
The growth of SUI fell behind its roadmap after Mysten Labs announced SUI's setup in March 2022. Despite the initial stagnance, SUI made a strong return in 2023 with its mainnet launch.
The bullish momentum behind this project partly comes from a group of prominent backers, including Coinbase Ventures, Jump Crypto, a16z, and Circle Ventures, among others.
The total SUI staked by validators and delegators has surpassed 6.34 billion SUI. This figure demonstrates the lucrative staking landscape on the SUI network. There are different ways to join SUI staking, including staking SUI with validators. It's always noteworthy to consider your financial ability and risks before making any investment.