Staking security

General Chat
1

Fellow Stakers,

If you stake with Moonlet, it allows you to select an expanded list of nodes that offer lower commissions than Moonlet’s standard 5%. For example, Shardpool and ezil.me offer 2% now, and CEX.IO offers 0% staking !

What are your thoughts about security of staking coins on a centralized exchange node ?
If the exchanges gets hacked, are the staked coins at risk of TOTAL LOSS?

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2

No difference, staking is non-custodial. If you simply delegate your $ZIL to a CEX node, you still retain full custody of those tokens.

The only situation that is different will be you deposit $ZIL on CEX, and stake from their UI. In that manner, you are relinquishing your custody to CEX. If they get hacked, you will lose your tokens.

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