Introducing DARCvault: Stake your DARC, Earn more, & Assist in feature testing!
The Konstellation team continues to work on the various prongs that will drive the adoption and real-world usage of Konstellation Network. Of the primary initiatives we have are inter-blockchain operability and digital asset management which will require users to stake DARC to access new asset management products within and potentially across chains.
Throughout this process, it’s critical for the Konstellation team to collect user feedback and better understand how to streamline this process for the community while consistently striving to make it as accessible as possible to the widest numbers of users. Even today, the biggest constraint of widespread adoption is the lack of usability and technical know-how. The Internet began as a tool for the technical community which was quickly accelerated by the ability for everyone to easily understand and use it.
Konstellation’s product development team has announced the release of DARCvault. DARCvault is DARCwallet’s skating functionality, allowing you the ability to earn more DARC weekly! Through DARCvault’s functionality and the interaction by the community, the Konstellation Network will be able to specifically focus on:
- Enhanced functionality for DARCwallet including cross-chain capabilities
- User improvements for staking that will be integrated once Konstellation Network mainnet goes live
- Blockchain integrations within the DARCwallet
- Staking and unstaking accessibility
See below for key questions/answers and a “How to Stake DARC-24B” guide that follows.
Key Questions & Answers:
What is staking?
- For mainnet tokens, such as Binance Chain and Cosmos SDK / Tendermint, staking is utilized to secure the network and network rewards are allocated to the community based on their staking amounts. Generally, you will make more money if your staked coins are larger as a percentage of the total staked coins.
Why Stake?
- By staking you will be directly participating in the Konstellation Network vision by providing valuable feedback on its usage and also being able to participate in our user interviews (for which there will be additional rewards to be announced!)
- Additionally, to reward our community for your participation in staking for our user research, we will be providing weekly rewards based on the amount that has been staked.
How do I stake?
- We’re glad you asked! See below for a step by step on “How to Stake DARC-24B” Remember: You MUST SWAP your DARC NEM Mosaic to DARC-24B, in order to participate in staking.
Is there a lock up period once I stake my DARC?
- You are able to unfreeze/unstake your staked DARC and rewards at anytime. However, we recommend that you continue to keep it staked and earn rewards as they will continue to compound weekly!
How much will I receive in weekly staking rewards?
- Stake DARC to earn 0.5% per week of your staked balance until the launch of Konstellation Network mainnet!
- The staking reward amount is 29.6% annualized (based on weekly rewards of 0.5% compounded), up to a maximum amount of 1.0 million DARC / week.
- If the total weekly reward amount exceeds 1.0 million DARC / week, the total reward will be calculated as a pro-rata amount of 1.0 million DARC. Because of the compound effect it makes sense to keep as much as staked for as long as possible.
- Please note: The minimum staking reward payment is 0.1 DARC-24B. Staking rewards will not be transferred until it equals or exceeds 0.1 DARC-24B.
When will I receive my rewards? How can I track my rewards?
- Rewards are distributed to your account via DARCwallet on a weekly basis. You can track this directly from the DARCwallet dashboard.
- Staking rewards will be transferred to your account every Sunday at 00.00 am EST.
Are there any limits here? How much DARC can I potentially earn with staking?
- There is a total maximum limit of 1,000,000 DARC -24B rewards per week. We have implemented a floating ratio when the reward transaction exceeds 1,000,000.00 DARC-24B per week, it will be adjusted so all users will receive their pro-rata share of 1,000,000.00 DARC-24B
- Please note: The minimum staking reward payment is 0.1 DARC-24B. Staking rewards will not be transferred until it equals or exceeds 0.1 DARC-24B.
Are there any fees associated with staking or un-staking DARC?
- Please note the fee for staking and un-staking is 0.005 BNB
Is there a deadline for staking? When can I start?
- You can stake DARC-24B immediately. Daily snapshots will be taken to calculate the staked amounts and the rewards will be paid on a weekly basis. We will be sharing the staked amounts and rewards with the community as well.
- This staking program will end at the launch of Konstellation Mainnet.
When will Konstellation Network Mainnet launch?
- We are currently in Phase 2 of the Konstellation Network Testnet. While the testnet is being worked on, we will continue to update the community on development progress. We are currently targetting Q3 for mainnet completion.
Stake DARC and Earn today!
Be sure to download the latest wallet version here: DARCwallet (Version 4.1.0)
Guide: “How to Stake DARC-24B”
Step 1: Logging into your wallet
- Please update your DARCwallet to the latest version, 4.1.0. It can be found here: https://konstellation.tech/wallet.html
- Install and access your wallet.
Step 2: Access DARCvault Dashboard
- Click on “DARCvault” on the left hand side to to show the DARCvault dashboard, and click “STAKE DARC.”
Step 3: DARCvault dashboard
- Once you moved to DARCvault dashboard you will be able to stake and un-stake your tokens. Please note the fee for staking and un-staking is 0.005 BNB
- This fee is per staking transaction, not a factor of the amount of DARC-24B being staked.
Step 4: Staking DARC tokens
- Staking DARC with DARCvault is simple:
- Select DARCvault to go to the DARCvault dashboard.
- Enter the DARC token amount you want to stake.
- Click the “STAKE” button and click “Confirm” when prompted, to confirm the DARC staking amount. (see image below).
- Voila! You can officially start to earn rewards!
Please note the fee for staking and unstaking is 0.005 BNB. This fee is per staking transaction, not a factor of the amount of DARC-24B being staked.
Step 5: Unstaking tokens
- You can unstake your tokens anytime you want. (Reminder: Rewards are calculated on daily basis and transferred to your account on a weekly basis.)
- Go to the DARCvault dashboard.
- Click the ‘UNSTAKE’ button (see image below).
- Receive tokens to your account.
That covers the basic’s of #DARCvault staking with DARCwallet! Questions or comments? Email us: Info@konstellation.tech or join our TG: Telegram (Official)
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