Binance, the popular cryptocurrency exchange and blockchain service provider, has announced the launch of a node to join Celer State Guardian Network (SGN) and help secure Celer’s layer-2 State Channel Network. Binance also launched a delegation product where users can delegate their CELR tokens and earn up to 37.49% staking reward. The launch of Binance as a staking partner also marks the successful transition to Phase 2 of SGN’s launch phases.
State guardian network (SGN) is a scalable and decentralized “watchtower” sidechain that ensures layer-2 state security and smooth usability for state channel users. It provides reliable and efficient services including client channel state protection, delegated payment receiver, and app connectivity oracle.
SGN is decentralized and incentive-aligned through the CELR staking process that governs the layer-2 validators and rewards all layer-1 CELR stakeholders. SGN is a significant technology piece that completes Celer Network’s State Channel Network that launched on mainnet more than one year ago. In the future iteration of Celer’s layer-2 scaling architecture including Hybrid Rollup, SGN will continue to serve as a crucial security and usability infrastructure.
|Token||Duration||Max. Single Locked Staking Limit||Standard Annualized Interest Rate||Min. Locked Staking Limit|
|CELR||15 days||50,000 CELR||37.49%||1,000 CELR|
|CELR||30 days||500,000 CELR||12.45%||1,000 CELR|
|CELR||60 days||500,000 CELR||14.46%||1,000 CELR|
|CELR||90 days||500,000 CELR||18.57%||1,000 CELR|