Coin Staking Deployment Update — 3/18

  • Staking requests require ETH for use as gas is required for transaction execution on the Ethereum blockchain.
  • We currently only allow one active stake at a time. If you wish to stake additional $COIN, you will need to cancel your current stake and intiate a new stake request. Please be aware that gas fees are incured when a stake is cancelled.
  • Staking requires two transactions on the blockchain to execute completely (in which both incur gas fees):
  • After confirming your staking request, the Coin animation will continue to persist until the transaction is completed. This is normal. Staking requests are executed on-chain and proceed at the speed of the Ethereum blockchain. This means transactions may take 2–20 minutes based upon network conditions including congestion, etc.
  • Funds are only staked when the color of the icon and amount are yellow in the transaction history record.
  • Your $COIN tokens are safely returned back to your wallet from the smart contract once you have elected to end staking in your transaction history record (tapping cancel). Canceling staking requests are executed on-chain and proceed at the speed of the Ethereum blockchain. This means transactions may take 2–20 minutes based upon network conditions including congestion, etc.
  • Unlike exchange requests, you do not have to be online after submitting your staking request for it to execute.

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