Moonstake Now Supports FIO Staking
SINGAPORE, Feb 22, 2022 - (ACN Newswire) - Moonstake is pleased to announce that our users can now earn interest from staking the FIO token of the FIO Protocol on our Web Wallet! Hold, send, receive, and stake FIO to receive rewards with the best user experience through one single click. After Cosmos, IRISnet, Ontology, Harmony, Tezos, Cardano, Qtum, Polkadot, Quras, Centrality, Orbs, IOST, TRON, and Shiden, FIO became the 15th staking coin available on Moonstake. Moonstake is now also one of the official Block Producers on FIO.
FIO staking activation is scheduled to take place on 22nd February 2022. Before this activation, each FIO token staked will begin accruing rewards at an early-access rate. Through this partnership, the Moonstake and FIO teams have worked together to bring you FIO staking feature before Staking Activation to start earning the early-access, proportional reward potential on Moonstake Wallet.
After Activation is achieved, and as more tokens are allocated to the Staking Rewards Pool moving forward, rewards accrued per FIO token staked will decrease over time. This means that, after Activation is achieved, those who still stake earlier will accrue greater proportional rewards than those who stake later.
Moonstake started the staking business last year with the aim to create the largest staking network in Asia. Since then, we have developed the most user-friendly Web Wallet and Mobile Wallet (iOS/Android) with support for over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach $1.8 Billion, allowing Moonstake to become one of the top 10 staking providers globally. Since March this year, Moonstake has also entered DeFi together with the newly launched DeFi platform, Muse.Finance, who has begun releasing its core DeFi products which are all scheduled to be integrated into Moonstake platform to enable advanced DeFi connectivity for our global users.
Meanwhile, FIO (short for Foundation for Interwallet Operability) was founded in 2020 and aims to enable easier, safer and more joyful crypto transactions on any type of token or coin. The FIO Protocol is designed to ensure the cryptocurrency user experience is uncomplicated and lays the foundation for cryptocurrency mass adoption. Long complex addresses have been replaced with user-customized FIO Crypto Handles such as "user@fio" that enable decentralized sending, receiving and payment requests (invoices, order carts, etc.), as well as, cross-chain end-to-end encrypted metadata (the information for those invoices, order carts, etc.) that can work across all blockchains.
How to stake FIO on Moonstake Wallet
Here's a simple 3-step process to stake FIO with Moonstake Wallet: - Register your Moonstake Wallet via Web or mobile (iOS/Android) - Select FIO from the "Wallets" screen and click the "Add Asset" button. - Access the FIO screen to check your staking information. From the Staking tab, click the "Stake" button, input the amount to stake, and enter your wallet password to complete.
How FIO staking works
Hold FIO, no minimum staking amount. Agree to lock in and stake FIO
While your FIO tokens are being staked, they remain in your wallet while you earn staking rewards. The Staking method ensures that stakers of FIO Tokens will always earn a positive return - meaning they receive more FIO Tokens back when they unstake than the number they staked.
How to get rewards for FIO staking
Rewards are given in FIO tokens and users will have to claim rewards. Please note that if you unstake your tokens prior to staking activation on 22nd February 2022, you will not receive any rewards.
How FIO unstaking works
If token holders want to send an asset that is currently staked, they will need to unstake it first. Unstaked tokens are locked and are unspendable for a period of 7 days. After that, they can be transferred as normal.
Moonstake is proud to deliver on our promise of bringing great value to users worldwide not only through enabling FIO staking, but also by integrating the feature before FIO staking officially launches on Mainnet, allowing our users to enjoy the greatest amount of earning potential per token staked.
About Moonstake
Moonstake is the world's leading staking service provider that develops and operates decentralized wallet services for businesses and individuals.
Since its launch in April 2020, Moonstake has partnered with 27 leading platform providers, including Cardano's constituent Emurgo, developer of the Polkadot-connected blockchain Astar Network Stake Technologies, and the TRON Network with over 50 million users. In May 2021, Moonstake further enhanced its corporate credibility by becoming a wholly owned subsidiary of OIO Holdings Limited, a company listed on the Singapore Stock Exchange.
Using blockchain technology, Moonstake aims to progress toward a world where anyone can easily make use of highly secure and reliable digital asset management tools. https://www.moonstake.io/
About Moonstake's staking business
For the staking industry, which has grown into a 630-billion dollar market as of September 2021, Moonstake provides a decentralized staking service that does not require user deposits, and supports nodes around the world in addition to its own validator nodes. Moonstake currently supports the staking of 12 blockchains. With a total staking assets of 1.8 billion USD and a global user base, the company ranked third out of more than 10,000 providers worldwide in June of the same year.
About FIO Protocol
The Foundation for Interwallet Operability (FIO) is an industry consortium, consisting of leading wallets, exchanges, crypto payment processors, and various other entities and community members dedicated to the pursuit of blockchain usability through the FIO Protocol. FIO's vision is to operate as a Decentralized Autonomous Consortia (DAC), guided by the community and blockchain ecosystem. We encourage everyone to participate in helping define the FIO Protocol and to provide feedback on how to improve blockchain usability. Our Foundation values Openness and Transparency, Diversity in Community, and Fairness. https://fioprotocol.io/
Source: Moonstake Sectors: Crypto, Exchange, Blockchain Technology
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
Latest Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan Apr 26, 2024 10:00 JST
| Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024 Apr 25, 2024 18:21 JST
| MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park Apr 25, 2024 17:45 JST
| GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series Apr 25, 2024 16:50 JST
| Toyota Exhibiting at Beijing Motor Show 2024 Apr 25, 2024 16:25 JST
| Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada Apr 25, 2024 11:10 JST
| UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh Apr 25, 2024 09:00 JST
| Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date Apr 24, 2024 17:19 JST
| MC and Denka Sign J/V Agreement in Fullerene Business Apr 24, 2024 17:02 JST
| Mitsubishi Motors Posts Record Sales in the Philippines in FY2023 Apr 24, 2024 13:56 JST
| NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance Apr 24, 2024 13:25 JST
| Fujitsu SX Survey reveals key success factors for sustainability Apr 23, 2024 10:25 JST
| Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions Apr 22, 2024 16:09 JST
| NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II Apr 22, 2024 15:09 JST
| Soft Space Launches the First and Only JCB Payment Gateway in Malaysia Apr 22, 2024 15:00 JST
| TOYOTA GAZOO Racing takes a one-two in Croatian thriller Apr 22, 2024 10:47 JST
| First-ever Mazda CX-80 Crossover SUV Unveiled in Europe Apr 19, 2024 13:50 JST
| Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces Apr 19, 2024 10:17 JST
| Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas Apr 18, 2024 17:01 JST
| Toyota Launches All-New Land Cruiser "250" Series in Japan Apr 18, 2024 13:39 JST
|
More Latest Release >>
|