Coldstack Staking is Live
Hello ColdStack Community,
Staking has gone Live
We are excited to finally release our unique staking protocol to the world. Like other staking mechanisms, our’s allows for loyal members of our community to earn interest and rewards on their CLS tokens by locking up any number of CLS tokens that they have in their possession.
Giving our community rewards for holding our token and supporting the revolution that is decentralised cloud storage whilst also directly helping to secure the protocol. Accordingly, each staking period will have a different APY to incentivise our community to secure the protocol for longer and importantly earn more rewards for themselves.
- APY 8% (30 days)
- APY 10% (60 days)
- APY 12% (90 days)
If you want more details about the staking mechanism you can check out the complete article here.
https://medium.com/coldstack/coldstack-staking-implementation-d757c3a9bd32
Unlike other protocols that require minimum amounts we only require 1 $CLS token to begin earning rewards, there is no limit on the maximum amount stakeable. The good news is, your tokens are not locked on the ColdStack staking system, but if you choose to remove your staked tokens early you will not receive your reward tokens.
Here’s how it works:
- The ColdStack dashboard is here and it’s how you can earn more on your $CLS holdings.
- Visit our dashboard and connect your wallet. Currently, only metamask, ledger, portis and trezor are capable of connecting.
- Before you can stake tokens, you have to deposit tokens on the coldstack platform. Click on the billing page or you can click on the account icon at the top right of the screen
4. You can deposit both binance and ethereum chain $CLS tokens here.
5. After you have deposited your tokens, you can go to the staking page. The staking menu item is located in the blue bar on the left side of the screen. You will see this screen because you haven’t staked anything yet.
6. After you click on the green ‘Stake Tokens’ icon, you will see the popup with the staking details based on the length of time you choose to deposit.
7. After you click on the stake button you will see the grid with your current staking information. If you choose to stake different amounts at different lengths you will see the СANCEL button to cancel staking at any time.
8. After you have completed your staking cycle, unlike other platforms, you don’t have to claim your tokens. The rewards will automatically be transferred to your Account balance.
You can start and cancel any amount of staking deals and you will see the status of all your staking deals displayed on your staking list.
What’s Next?
We understand that 12% APY is not much in the world of crypto. That’s why the benefits of joining our staking program only begin here. To earn the full 450% APY please follow us on twitter and join our telegram group for upcoming announcements so you can capture our best APY before everyone else.
Official website: https://coldstack.io
Twitter: https://twitter.com/coldstack_io
Telegram: https://t.me/coldstackio
Medium: https://medium.com/coldstack
