What does it mean to stake your ICP utility tokens?

For Internet Computer blockchain participants to be able to engage in network governance and vote on proposals, they need to lock up a stake of ICP utility tokens for a given period of time to create a voting “neuron” within the Network Nervous System (NNS), an open algorithmic governance system.

Because neurons represent a stake of ICP utility tokens, they also represent an identity with a ledger canister smart contract account and a principal that controls the ledger account.

Neurons provide the stability required for responsible governance of the Internet Computer by ensuring that the ICP utility tokens they represent cannot be exchanged for a specific period of time, which is referred to as the lock-up period.

 

For more information on staking, check out the Internet Computer Wiki and our Developer Forum.

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