Dear Coinsuper Users,
Coinsuper will launch IOST's Staking service on August 5, 2019.
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 IOST with absolutely no lockup while your IOST 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 IOST staking offer will start on August 5, 2019 (Monday), terms and conditions may apply.
Users who deposit IOST 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 IOST):
- Subject to the users agreeing and selecting to participate at the staking, Coinsuper will take part of IOSTof those users held in Coinsuper wallet to stake with our supernodes partners for participating at the mining.
- Coinsuper will take a snapshot of IOSTasset 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 IOST balance in this cycle is ≥10000 IOSTs) can obtain their part of the rewards at the end of the staking cycle;
- Amount of rewards for each cycle = average daily staked IOSTbalance of the user during this cycle / total daily staked IOST 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 IOST Staking cycle will be officially launched on August 1, 2019 . In order maximize the amount of time of mining through the supernodes, it is recommended to store IOST into Coinsuper in advance.
August 3, 2019