Today is a T-day for communities of Aerum and Signkeys! Any XRM and KEYS tokens put into staking will take part in Token Replacement program that will last from November 25th 2019 until March 29th 2020.
For each XRM token participants will receive 2 XF tokens every day for 125 days. For each KEYS token staked participants will receive 4 XF tokens for next 125 days.
Only tokens staked in officially supported wallets (Signkey Pro, more will be announced) will take part in the program.
To participate in the Replacement Program, go to https://fch.network/ website, subscribe and download the SingKeys Pro wallet application for your Android or iOS device. Register and transfer your XRM or KEYS tokens to the wallet address you get when clicking on Wallet — KEYS/XRM — Receive.
Once transferred and balance is present on the Wallet screen, go to Staking screen and select either XRM/Aerum or KEYS/Signkeys tabs by sliding screen sideways. There you can stake and unstake XRM and KEYS tokens and participate in the program.
XF tokens received as a replacement can be used to actually stake FCH Network, run a Delegate or launch a Masternode.
You can start staking any Delegate in the network from any amount of XF. There is no upper limit as well.
To stake XF token, go to the Staking screen in Singkeys Pro app, slide screen sideways until XF staking tab appears, select any of the Delegates on the screen and Stake/Unstake a Delegate with XF tokens.
To become a Delegate you will need to put a security deposit of at least 100,000,000 XF tokens, pass KYC attestation in a supported wallet and launch a full node on FCH Network blockchain. Other users will be able to stake your Delegate node and increase your rewards. This is a Delegated Proof of Stake model.
Masternodes can be run with as little as 10,000,000 XF security bond. No KYC needed. Others cannot stake a Masternode. This is a direct Proof of Stake model.
Both Masternodes and Delegates receive block reward in freshly minted Fuchsia Coin. While Masternodes retain whole reward, Delegates may chose to share a % of it (from 0% to 100%) with their stakers.
On top of that FCH Network Alliance is running an incentive reward program until at least December 31st 2019, when stakers, masternodes and delegates receive 1 XF daily for every 100 XF tokens staked or bonded, as long as a total quantity of reward not exceeding 30,000,000 XF. If more than 3,000,000,000 XF become staked or bonded, rewards will be distributed proportionally according to a number of tokens staked.
In a coming days, FCH Network will release a Reward Game, where active application users will be able to gain up to 500% of the rewards they should receive otherwise. We will publish details very soon.
See you soon!