Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 8 January 2021, 17:00 HKT/SGT
Share:
    

Source: Moonstake
Moonstake Wallet Officially Announces Staking Support for Polkadot (DOT)

SINGAPORE, Jan 8, 2021 - (ACN Newswire) - Today, Moonstake announced the support of staking Polkadot's cryptocurrency DOT, one of top 10 cryptocurrencies by market cap, in Moonstake's Web Wallet. After Cosmos, IRISnet, Ontology, Harmony, Tezos, Cardano and Qtum became the 8th available staking coin on Moonstake Web Wallet.




Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. Polkadot is the flagship project of Web3 Foundation, the world's leading blockchain foundation founded by Ethereum co-founder and former CTO Dr. Gavin Wood. In addition to Dr. Wood, other key members of the Web3 Foundation include Dr. Aeron Buchanan, former Head of European Operations at Ethereum, and Reto Trinkler, co-founder of Melonport.

As of January 2021, 63% of the total supply or $6 billion of DOTs have been staked since Polkadot's mainnet launched in May 2020. The price of DOT, the native token of Polkadot and a cross-chain protocol for data and asset interoperability has risen more than 40% in December 2020 after two confidence votes by Binance, the largest crypto exchange by spot trading volume and placing it at ranking 7 cryptocurrencies by the market cap.

This time, Moonstake has added Polkadot's staking service, a global cryptocurrency to further enhance the staking of cryptocurrency's top market capitalization coins to giving users more choices.

Here's a simple 4-step process to stake DOT on Moonstake Wallet:
1. Register your mobile Moonstake wallet (https://wallet.moonstake.io)
2. Add DOT with "Add New Asset"
3. Transfer DOT to Moonstake web wallet
4. Click the "Stake Now" button (*You need to have at least 1 DOT to start staking for the first time.)

How DOT Staking Works:
When staking, you can select multiple validators (up to 16 validators) to stake. Simply choose 1-16 validators (staking providers) and nominate them. If more than 256 nominators nominate the same validator, it is "oversubscribed", and only the top 256 staked nominators (ranked by the amount of stake) are paid rewards. If your stake is in place 257 or higher, you will not receive staking rewards.

How to get Rewards of DOT staking:
APY is 13.32%. To receive the staking rewards, you must manually claim your rewards using the function inside the staking tab. Staking rewards are kept available for 84 days only. Please be aware that If you do not claim your staking rewards by this time, then you will not be able to claim them and some of your staking rewards will be lost.

How DOT unstaking works:
You must unstake when sending a DOT during staking. However, for 28 days after the unstake, it will be in the "cancellation request" state and will be locked. After the 28-day lock period has expired, you can withdraw your DOT. There are no staking rewards during the lock period.

About Moonstake

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.

Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore Catalist-Listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey.

With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 120 Million. https://www.moonstake.io/



Topic: Press release summary
Sectors: FX & Digital Currencies
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Moonstake
Jan 22, 2021 12:00 HKT/SGT
OIO, Moonstake's Partner and SGX listed company, appoints New CEO for its blockchain business subsidiary, Rudy Lim, former Head of FinTech at DBS Bank
Jan 21, 2021 16:00 HKT/SGT
Moonstake Enters Into MOU to Commence Negotiations with SGX-listed OIO Holdings to Become a Subsidiary
Jan 21, 2021 08:00 HKT/SGT
Moonstake Officially Announces Entry Into DeFi
Jan 19, 2021 11:00 HKT/SGT
Moonstake Enters a Strategic Partnership with RockX to Support the Polkadot (DOT) Ecosystem
Jan 15, 2021 10:00 HKT/SGT
Moonstake Wallet Officially Commences Staking Support for QURAS
Dec 14, 2020 12:00 HKT/SGT
Moonstake Collaboration Webinar: Institutional Digital Asset Trends for 2021 - What else apart from DeFi?
Dec 9, 2020 09:00 HKT/SGT
Moonstake introduces DeFi project to Japan
Dec 8, 2020 15:00 HKT/SGT
Moonstake Collaboration Webinar with Aaron McDonald, CEO of Centrality: "The Future of Proof of Stake and Staking"
Dec 3, 2020 11:00 HKT/SGT
Moonstake Collaboration Webinar: "The future of blockchain: the case of Neo3"
Nov 26, 2020 08:00 HKT/SGT
Moonstake Collaboration Webinar: "What communities expect from a future of DeFi"
More news >>
 News Alerts
Copyright © 2021 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6859 8575

Connect With us: