Welcome to the Coin Staking Program
We are excited to reveal details of our staking rewards program. This is a program that gives stakers the opportunity to earn rewards as a direct result of revenue from the Coin Exchange platform. As a staker, you earn more $COIN as the Coin ecosystem grows!
By staking your $COIN and participating in the Coin staking program, you accrue rewards immediately. Each month Coin’s staking rewards will be calculated at 7% of the current $COIN in the staking reserve (21,785,714 $COIN). The first month’s rewards are 7%, approximately 1,525,000 $COIN, that will be distributed across all stakers. Each month thereafter, the smart contract will take 7% of the new staking reserve balance for distribution again. The staking reserve will continuously be refilled from $COIN buybacks from revenue on a weekly basis. In short, this means the more the Coin platform is used, the more you benefit. With that said, even with low initial volumes, rewards are high because of the initial balance in the Coin staking reserves. Your reward percentage will be calculated based on your contribution to the total staked $COIN on the network. Assuming 1,000,000 of $COIN is staked in total by all token holders in the network, and you have staked 100,000 $COIN, your return is 10% of the rewards.
We built a sample calculator to help you view the potential rewards associated with the program here.
Building Towards a DAO
While the Coin team will set the initial variables related to the rewards, over time the intent is to give control over to the Coin community. This means you have the opportunity as a community member to adjust the percentages and rewards through DAO governance. We anticipate the following variables will have the ability to be changed through governance:
- Volume Period
- Exchange Trading Fees
- $COIN Staking Distribution %
- $COIN Staking Distribution Time
- $COIN Bonus Rewards Buyback %
- Volume Goal Growth Percentage
While these features will not be available initially our goal with Coin is to give the Coin community control to make the ecosystem even more valuable.
Below you will find answers to some frequently asked questions.
When can I create my Coin Wallet?
The official launch date of the Coin wallet is Monday, December 21.
When can I stake my $COIN?
You will be eligible to stake your $COIN once you have created your $COIN wallet, and transferred your $COIN to the wallet.
How do I stake?
Staking will require creating a wallet on the Coin platform, and transferring your $COIN to the Coin wallet. From the Coin wallet, you will have the option to stake any of your $COIN in our staking rewards smart contract.
How are rewards distributed?
Rewards are distributed from a rewards smart contract that exists as a part of your Coin wallet. The staking rewards, and potential bonus rewards, will be claimable to your Coin wallet and you can either stake the rewards, or transfer them to a new wallet.
How are rewards calculated?
Coin has an initial staking reserve of 21,785,714 $COIN. At the start of each month 7% of the total amount of $COIN in the staking reserve will be sent to the rewards contract. The initial amount of $COIN being distributed will be 1,525,000 $COIN. This amount will be distributed over the next month, which roughly correlates to 50,833 $COIN each day, over a 30 day period, 2,118 $COIN an hour, 35.3 $COIN a minute , or 0.588 $COIN a second. Your rewards will be calculated by your Individual Percentage of Total Staked. Individual Percentage of Total Staked = Your Number of $COIN Staked / Total Number of $COIN Staked.
This gives us the formula:
Total $COIN Distribution * Individual Percentage of Total Staked or % Staking Reserve Distribution * $COIN Staking Reserve * ( Individual Number of $COIN Staked / Total Number of $COIN Staked).
Are my rewards auto-staked?
No as the process is not automated and Coin does not have access to your wallet. You are in full control of your wallet, and you will need to create a new staking request for any $COIN tokens that are not currently staked included rewards.
For more information, please visit our website.
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