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 ©2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
Latest Release
 DENSO Announces Organizational and Executive Changes Dec 04, 2023 18:12 JST
|  All-New Triton Earns Top Rating in 2023 ASEAN NCAP Dec 04, 2023 17:07 JST
|  Fujitsu and KDDI Research successfully implement large-capacity multiband wavelength multiplexing transmission with installed optical fiber Dec 04, 2023 10:34 JST
|  GC Collaborates with MHI to explore the utilization of hydrogen, ammonia and CCS technology to develop a large-scale petrochemical plant to achieve Net Zero Dec 01, 2023 17:22 JST
|  NEC named among IAM's 2023 Asia IP Elite Dec 01, 2023 14:50 JST
|  Eisai's Sales Subsidiary Collaborates with Ministry of Public Health (MOPH) in Thailand Nov 30, 2023 16:25 JST
|  Boosting Growth Investment to Power Mobility Company Transformation Toyota-DENSO Capital Ties Revised Nov 30, 2023 16:17 JST
|  Olympus's Net-Zero Targets Approved by SBTi Nov 30, 2023 11:00 JST
|  Fujitsu and Macquarie University establish new research lab to accelerate development of human sensing and generative AI technologies Nov 30, 2023 09:34 JST
|  NEC X and Entrepreneurs Roundtable Accelerator (ERA) Forge Strategic Partnership to Advance East Coast-based Startups Nov 29, 2023 18:37 JST
|  MHI Selected as Core Company for New Research Reactor for JAEA Nov 29, 2023 18:22 JST
|  Toyota: Sales, Production, and Export Results for October 2023 Nov 29, 2023 16:17 JST
|  Toyota Re-introduces the Land Cruiser "70" in Japan Nov 29, 2023 13:30 JST
|  Mitsubishi Shipbuilding Holds Christening and Handover Ceremony in Shimonoseki for Demonstration Test Ship for Liquefied CO2 Transport Nov 28, 2023 17:47 JST
|  Hitachi awarded Sustainable Markets Initiative 2023 Terra Carta Seal Nov 28, 2023 17:43 JST
|  MHI Succeeded Combustion Test of Ammonia Single-Fuel Burners Nov 28, 2023 16:40 JST
|  JCB partners with FrenchSys to boost card acceptance across France Nov 28, 2023 12:00 JST
|  Toyota Launches IMV 0 in Thailand Providing Mobility to Make People's Lives Better through Customizability Nov 27, 2023 17:30 JST
|  MHI and Orica Announce Collaboration to Explore Emissions Reduction Opportunities Nov 27, 2023 15:29 JST
|  Mitsubishi Motors to Launch the New Minicab EV Electric Commercial Vehicle in Japan in December Nov 24, 2023 16:32 JST
|
More Latest Release >>
|