In our previous post we learned that FCH Network operates with two different assets: XF ERC-20 staking tokens and native Fuchsia coin.
FCH Network is a Hybrid cross-chain Proof-of-Stake blockchain. Operates both Direct and Delegated staking governance models.
In both cases XF tokens are used to provide with security bond and a stake to secure the network.
Once you acquire XF tokens (by receiving a sign-up bonus, replacement or incentive reward) you may use it to stake one of the Delegates.
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.
Don’t forget to visit https://fch.network and sign-up.
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