GoChain Staking Starts Now
The GoChain Foundation is excited to offer node staking rewards to community members.
The foundation runs several nodes that were created to bootstrap the network in the beginning and the plan has always been to reduce down to a single node once the network grew to greater than 21 nodes, at which point we are sure the network is large enough to be safe and secure. We’re still a few nodes away from getting to 21, but we felt it would be good to give back to long term GoChain supporters and charity.
The staking rewards are as follows:
- 8.1% APY
- 1M maximum staked per person
- 30M total can be staked by all persons
This is first come first serve, so only the first 30M staked will be accepted.
APY may change slightly if new nodes join the network.
Please keep in mind these important dates and be sure to register quickly as it will be on a first come first basis up to the maximum allowable stake.
- Staking rewards will start on June 1, 2021
- Last day for registration is May 25, 2021
Rules to Participate
- Minimum amount: 1000 GO
- Must register an address with us using the form below
- Amount to stake must be what is registered, if they add more along the way, it won’t make a difference
- Must be no withdrawals from that address while staked (best if you use a new address just for this so there’s no activity). If a withdrawal is seen, your rewards will end.
- Minimum 1 month
- Distributions will be made after the first month then every month thereafter until the program ends.
Please fill out this short form to register.
Q: How will the rewards be paid out and in what currency?
A: Rewards will be paid out at the end of the first month and every month thereafter in an automatic airdrop. The rewards will be paid out in $GO.
Q: Will deposits to the assigned wallet address, approved for staking have any effect on the staking? Or the rewards?
A: No, deposit will not affect staking. Just a reminder, any withdrawal will automatically disqualify your wallet from the staking program and your wallet will not be eligible for pending or future rewards. Additionally, restaking will not be allowed once disqualified. Keep this in mind when making any deposits as the requirements are not only that the staked amount match the amount stated at registering but any withdrawals of any kind will leave that wallet disqualified.
Q: By when do people have to fund their assigned wallet?
A: Must be funded before May 25
Q: Regarding the 30 Mil Cap; will the last person to sign up receive the notification “X amount of your address is eligible for the staking because the cap has been reached?
A: All eligible stakers and staked amounts will be notified by email. The last person to qualify for staking will only receive rewards for the portion of tokens required to meet the 30Mil cap and may withdraw down to the max before June 1.
Q: Will users receive a confirmation of the exact amount of the GO eligible for rewards/staking?
A: Yes, all qualified wallets will receive notification via email; included will be the wallet address and exact amount of GO that qualifies for staking/rewards.
Q: Will there be a possibility of compounding rewards into staking? Auto or manual?
A: No, it’s a fixed amount based on the staking campaign’s set cap of 30 Million.
Q: Will GoChain proxy 1 2 3 4 5, GoChain 1 2 3 4 5, and GoPath be taking up the staking allocation?
A: Only one of the GoChain nodes will be assigned to this staking campaign and eligible for rewards. Further, the proxy nodes are not eligible for rewards, so none of those could even qualify.
Q: What happens if on the registration form people entered a staking amount higher than what is available in their registered wallet?
A: These accounts will be automatically disqualified as the amount stated on the registration form, at the time of registration, must be equal to or less than the amount found in the wallet, (at the time of registration.)