Everstake The Ukrainian Staking Service In Jail

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I am a sun sea and sand person, chocolatier, grows organic vegetables, rides a Vespa and c... [more]

2 years ago

Topics: Band, Staking

We have always used Everstake, the Ukrainian Staking Service as our default validator for staking ATOM, XTZ, BAND and probably some others that we may have temporarily forgotten about.

We went with Everstake as they were was the chosen validator for the Exodus Wallet.

So when we moved all the digital assets to the Ledger Nano’s, we continued to use Everstake. Saw no reason not to continue to use them as our default Staking Service.

Cosmostation

At the time BAND was not able to be staked on the Ledger Live app, so we went with the mobile Cosmostation Wallet and of course Everstake was our validator.

Once a week we claim the rewards and delegate to Everstake. Easey Peasey.

The War

Was always wondering if or when the war was going have an impact on their staking service.

The other week when we selected our validator “Everstake”, it was instead showing “Do Not Delegate - Everstake”. As it did not stop the claiming and delegating, didn't think too much about it at the time.

Then today I was able to claim but it did not let us delegate as Everstake is in Jail.

Jail Time

Jail as in staking jail, where the naughty validators get sent when they have too much down time. And we can be fined in crypto, i.e. the staking rewards get slashed.

Now have to wait 21 days for the unbonding and will have to choose another validator for the BAND. And the other staked crypto.

What I Have Learned

So why were Everstake jailed or went offline? Couldn't find the answer but did find some interesting comments from BlocksUnited on Reddit posted 8 months ago.

Note: this is post was referring to staking and airdrops on the Cosmos Network.

According to the Everstake website they are the biggest decentralized staking provider in the blockchain industry, used and trusted by 625,000 users. They have used enterprise-level hardware to run nodes for the most popular PoS blockchains since 2018.

Checking their Blog there is nothing about BAND.

Look like it will continue to be a mystery for the time being.

Time For A Change

Will be interesting to see if all of Everstake is in jail or just the BAND nodes. Either way it only takes one 🚩 and we are out of here. At least with the unbonding periods we have time to choose another validator. Shame as it gave us a warm fuzzy feeling using an Ukrainian Staking Service.

The END

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