Nominal Staking Yield

Staking rewards come from protocol issuance, a share of transaction fees and, on some chains, maximal extractable value captured by the block proposer. The nominal rate expresses the tokens received per year per token staked. It normally falls as the staking ratio rises, because a similar reward pool is divided among more bonded tokens.

计算方式

annualized tokens received per token staked x 100

易产生误导之处

The rate is denominated in the token itself, so it says nothing about the dollar outcome for a staker, and a positive nominal yield is fully compatible with a loss measured in any other currency. It is usually quoted before operator commission, which commonly takes a material share of rewards, and before any penalty for downtime or slashing. Providers mix annual percentage rate with compounded annual percentage yield, which diverge meaningfully at high rates or frequent reward payouts, and rarely label which is shown. Entry and exit queues can leave capital unrewarded or bonded for days, and the quoted rate changes automatically whenever the staking ratio moves.

与股权的类比，以及为何该类比不成立

Dividend yield. The analogy fails because a dividend transfers company cash to owners, while most staking rewards are newly issued units that dilute every holder who does not stake, making the reward partly a transfer from non-stakers rather than income from operations.

如何解读高值或低值

A higher rate means more additional tokens are received per token staked over a year and a lower rate means fewer. The rate is a protocol output that moves with participation, not a promised payment.