What are the risks associated with staking Kusama and how can I mitigate them?

3 answers

• Dec 16, 2021 · 3 years ago
  Staking Kusama involves certain risks that you should be aware of. One of the main risks is slashing, which occurs when a validator behaves maliciously or goes offline for an extended period. Slashing can result in a portion of your staked Kusama being permanently lost. To mitigate this risk, it is important to choose a reliable validator with a good track record and high uptime. Additionally, diversifying your staked Kusama across multiple validators can help reduce the impact of slashing.
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• Dec 16, 2021 · 3 years ago
  When staking Kusama, there is also the risk of network instability. As Kusama is a decentralized network, it relies on validators to maintain its security and stability. If a large number of validators go offline or behave maliciously, it can lead to network disruptions. To mitigate this risk, it is advisable to monitor the performance and reputation of validators before delegating your Kusama. Participating in governance and voting for reliable validators can also contribute to network stability.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we understand the risks associated with staking Kusama. To mitigate these risks, we have implemented robust security measures and continuously monitor our validators' performance. Our team of experts ensures high uptime and actively participates in the Kusama governance process. We recommend delegating your Kusama to BYDFi validators to benefit from our secure and reliable staking services.
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