Dear Coinsuper Users,
We are pleased to announce our partner network is growing, creating new opportunities for our users to participate in a collection of stake-able projects. In light of this, we are delighted to announce another partner, HashQuark, who will also be joining us as one of the supernodes to provide our users an inflation protection on their virtual asset.
Currently a lot of staking providers will require you to lockup for most POS projects, subject to the requirements of blockchain. We are committed to serving you the best exchange experience through safe and value-add services, so we have created a new scheme whereby you can stake your IRIS with absolutely no lockup while your IRIS come to fruition. Users would be able to participate at mining alongside supernodes with limited resources whilst retaining the flexibility to continue trading virtual assets.
This new IRIS staking offer will start on 22 July 2019 (Monday), terms and conditions may apply.
Users who deposit IRIS into their Coinsuper account are entitled to participate at staking, and no locking is required. Users are allowed to freely trade and deposit and withdraw virtual assets at any time.
Staking Rules (based on IRIS):
- Subject to the users agreeing and selecting to participate at the staking, Coinsuper will take part of IRIS of those users held in Coinsuper wallet to stake with our supernodes partners for participating at the mining.
- Coinsuper will take a snapshot of IRIS asset balance on a daily basis randomly during each staking cycle (which is currently every 7 days) to ascertain information for calculation purpose, such as staked amount, the staked period and the relevant reward from staking. The participated users (the average daily IRIS balance in this cycle is ≥1000 IRISs) can obtain their part of the rewards at the end of the staking cycle;
- Amount of rewards for each cycle = average daily staked IRIS balance of the user during this cycle / total daily staked IRIS balance of all users of Coinsuper during this cycle * total amount of rewards that Coinsuper received as a result of the staking during this cycle.
- Irrespective of whether the blockchain has any restriction on minimum staking period, all users who participated at the staking through Coinsuper would be able to withdraw their digital assets at any time, the staking will not affect users in utilizing Coinsuper’s trading function at all.
- Rewards period: the rewards would be allocated once every 7 days, and will be issued at 18:00 (GMT+8) on the second day after the end of each Staking cycle.
The first IRIS Staking cycle will be officially launched on July 22, 2019. In order maximize the amount of time of mining through the supernodes, it is recommended to store IRIS into Coinsuper in advance.
22 July, 2019