In Proof-of-Stake blockchains, the network periodically rotates the list of validators responsible for verifying transactions and creating blocks. The period during which the current list of validators operate is called a validation cycle.

What parts are in TON validation cycle?

There are three parts:

• Election – The TON network selects eligible validators who meet the minimum staking requirement.
• Validation – Elected validators process transactions, validate blocks, and maintain network security.
• Holding – Validator stakes are temporarily locked for potential slashing. After this period, validators can withdraw their stakes and rewards.

The full cycle lasts for 27 hours, while the validation part is the longest one with 18 hours period.

To ensure the network is always operational, two validation cycles run in parallel with separate lists of validators. When validators from the first list are on election or holding part, the second list is on validation, and vice versa.

You can check the current cycle stage in the Tonviewer explorer.

How validation cycles impact liquid staking?

Liquid staking protocols operations are tied to validation part of the validation cycle. For example, in TON liquid staking protocols receive staking rewards after the validation part ends (every ~18 hours).