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KOIN Staking Function Details Notice

  • Updated

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Koindex will pay staking rewards to KOIN stakers. Anyone can easily participate in KOIN's staking simply by selecting Staking, where by cancellation can be done immediately.

 

New KOIN supply will only be produced through Staking rewards after the Staking function is implemented.

 

Staking Rewards

Turkish Interest Rate + 1% (Annualized rate)

* The current Turkish Interest rate is 15%

 

  • Staking rewards will be distributed daily as KOIN.
  • Staked KOIN can be canceled at any time.
  • If Staking is cancelled within 24 hours, users will not receive staking rewards.

 

Staking Distributions

You can receive the highest daily distribution rate (100%) through Staking. If you do not Stake, the daily distribution rate is 20%.

 

List of Distribution Rates for KOIN Holders

■ NEW

Staking     -    100%
Holding    -      20%

■ Old

Pledge 90 -  100%
Pledge 30 -    40%
Staking     -    30%
Holding    -    20%

 

Implementation Date

12/9/2020 10:00 UTC~

* Released after regular maintenance

 

How to Stake

  1. Navigate to "Staking" from the "KOIN menu"
  2. Select the "STAKE" tab
  3. Enter the amount of KOIN quantity you want to Stake
  4. Click the the "Stake" button

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How to Cancel Staking (Unstake)

It is possible to cancel by selecting the UNSTAKE tab and entering the amount you want to unstake.

 

Regarding Pledge 90/30

  • KOIN previously pledged under Pledge 90/30 will receive daily distribution at the same rate (100% / 40%) as before.
  • If you have KOIN remaining under Pledge 90/30, KOIN will be unpledged daily as before.

 

About the Automatic Repledge Function

  • The Automatic Repledge plans 90/30 will be removed at 9:59:59 UTC on 12/09/2020. KOIN that was pledged under these plans will be unpledged as free KOIN as before.

About the KOIN Converter Function

  • After Koindex suspends mining, no bonus will be provided when using the KOIN Converter. Since the Converter function is a mechanism to purchase KOIN from the market using various fractional currencies, it may differ from the actual KOIN market price in consideration of availability. We advise you to verify the displayed amount being converted before using the KOIN Converter.

 

Going forward, only the KOIN Staking function will be available.

 

Thank you for your support.

 

Koindex Team