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We are very excited to announce that Imperator.co is a validator on the Sei network!

This article aims to introduce Band, explain how to claim the airdrop and help you stake your $BAND tokens with a validator.

📌 What is Band?

Band Protocol is a cross-chain data oracle aggregating and connecting real-world data and APIs to smart contracts.

The protocol is built on top of BandChain, a Cosmos-SDK-based blockchain designed to be compatible with most smart contract and blockchain development frameworks.

💰 What does staking mean?

Staking is the process of locking up a digital asset to provide economic security for a public blockchain. You have the superpower to contribute to the network’s security and it grants you the right to vote on proposals and make decisions on the future of the blockchain.

When the staking transaction is complete, rewards will start to be generated immediately. At any time, stakers can send a transaction to claim their accumulated rewards.

Staking rewards are generated and distributed to staked holders in two ways:

1. Through transaction fees collected by the network and distributed to stakers.

2. Through the inflation rate, the total supply is inflated to reward stakers.

⚠️ Holders that do not stake do not receive rewards, meaning their capital gets diluted over time.

Staking is not risk-free. If a validator has downtime or underperforms, a percentage of tokens delegated to them may be forfeited. To mitigate these risks, it is recommended that holders delegate to multiple validators.