IOTA starts with Shimmer and Assembly Staking
IOTA starts with Shimmer and Assembly Staking
- The IOTA Foundation has announced the beginning of the IOTA Staking rewards for the shimmer and assembly network tokens.
- token holder have a seven-day pre-staking period and receive their staking rewards from December 28th for 90 days.
The day is finally here! The IOTA Foundation has announced the official start of the IOTA Staking. IOTA owners can now begin to set their tokens in exchange for SMR or ASMB, the native tokens of the shimmer or assembly network.
The foundation has explained a seven-day pre-staking period that begins today, Tuesday, December 21 at 3:00 p.m. CET. This offers a generous time frame in which all interested participants can buy their tokens or move them to the IOTA Firefly Wallet. Staking on this wallet was activated with the publication of Glühwurmchen 1.3.0 .
During this period of seven days, the participants can move their IOTA tokens from their stock exchanges or other supported wallets to Firefly and mark them for stake. The payment of the staking rewards begins on December 28, 3:00 p.m. CET, exactly seven days from today and lasts the following 90 days.
In a explanation shared with CNF, the IOTA Foundation pointed out that "there are no blocks or punishments and token rewards are slightly available in the Firefly Wallet". In a blog post, the Foundation that the token-Staker can choose whether they can choose the staking rewards in ASMB or SMR tokens or both at the same time "without locks, additional costs or punishments".
As soon as the assembly and shimmer networks start in 2022, the staking rewards, be it SMR or ASMB, will be transferable and tradable.
Stakers not only receive 1 tokens, but 2💵! And after the @Schimmeret and @assembly_net Network start you can get even more rewards if you secure both networks by stubbing $ smr and $ Asmb .
Visit: https://t.co/gx9ucphsr2 #jota pic.twitter.com/vjv777GPK5Q- IOTA (@IOTA) 2. December 2021
relatives: IOTA starts shimmer; A staging network as an incentive for network upgrades
How to reward you with asM and/or SMR tokens
As a native token for the staging network Shimmer, SMR will be the economic basis of the network and facilitate transactions and contribute to its safety. The upcoming Daos, Defi and NFTS will activate in the Shimmer network as soon as it is put into operation in the new year.
according to the blog post:
Each Miota used generates for up to 90 days every 10 seconds 1 SMR for its staker and each staggered wallet must reach a minimum amount of 10,000,000 SMR so that the airdrop is received.
ASMB, on the other hand, is the native token of Assembly, a decentralized smart contract network. It will support the network mechanism of the network as soon as the network is started and also ensure its security. His entire offer of 100 billion tokens is distributed over a period of five years. 20 percent of this offer will go to IOTA stakeholders over a period of two years, which effectively makes them the largest shareholders in the ecosystem.
For each Miota that is stuck, IOTA stackers receive 0.000004 ASMB (or four microasMB) every 10 seconds for up to 90 days. Each wallet used must achieve a minimum amount of 1.0 ASMB (1,000,000 microasMB) so that the airdrop is received.
In the first 90 days, up to 8 percent of the ASMB offer will be distributed to the stakers. The rest is distributed as soon as the smart contract and tokenization upgrades are implemented.
Staking only takes place on the Firefly Wallet and is not available for third parties. In order to be able to participate, users must download the latest version of the wallet, which has been updated to contain a brand new tab for the stake. As soon as the staking is complete (or pre-staking if it takes place between today and December 28th), users can display their total bonuses on the dashboard.
: IOTA terminates new decentralized smart contract network assembly for web 3 and metaverse an
Source: Crypto-news-flash.com
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