According to Foresight News, smart contract platform Flare Network has launched the second phase of its public staking program, allowing FLR token holders to participate in network consensus by staking their tokens to Flare validators. Currently, there are 71 network validators staking 2 billion FLR tokens. The second phase utilizes the network's new staking tool, simplifying the process of locking FLR into staking smart contracts. FLR can be transferred from the C-chain, which runs smart contracts, to the P-chain, where staking occurs. Initially, the staking tool can only be accessed through Ledger hardware wallets, but other options will be added in the future.
The minimum stake amount for this phase is 50,000 FLR, with a minimum staking period of 14 days. Each validator's reward cap is set at 5% of the total rewards. While participating in staking, FLR holders are still eligible to receive FlareDrops.