Increased $KIAN APY for the Traditional Staking Program
We’ve increased the APY in our latest staking program that went live here on May 4. The program has been made possible through our partnership with Ferrum Network and is another step towards achieving Kianite’s original vision at inception.
A Brief Overview of the Traditional Staking Program
Staking has become one of the major features of Proof of Stake blockchains. Staking involves the lending of user coins to a blockchain, enabling it to function efficiently. In return, users who deposit their assets through the staking program are rewarded with additional coins via the blockchain.
In Kianite’s case , users stake their $KIAN tokens and will be rewarded with more in return. Staking is quite attractive, as users receive more tokens by simply holding their coins on the blockchain. The more tokens users can gain from staking, the more likely they will continue to offer on the blockchain.
The Kianite Traditional Staking Program
Our traditional staking pool opened on May 4 at 2pm (UTC). The pool has two options: pink diamond and gray diamond. Each of these options has differentiating features. The pink diamond option has a staking cap of 1,200,000 $KIAN with a 30-day maturity period. Users who stake their tokens for the full term will be rewarded with a 60% APY.
On the other hand, the gray diamond option has a staking cap of 600,000 $KIAN with a 45-day maturity periodmaturity period of 45 days. The APY for this option is higher at 85%.
Pink Diamond
- APY: 60%
- Maturity Period: 30 days
- Maximum Pool Size: 1.2M $KIAN
- Mandatory Lock Period: 10 days
- Early Release APY: 25%
Gray Diamond
- APY: 85%
- Maturity Period: 45 days
- Maximum Pool Size: 600K $KIAN
- Mandatory Lock Period: 15 days
- Early Release APY: 32%
Although this staking program has a maturity period, we have allowed for early withdrawals to ensure that users who cannot stake for the full period don’t feel trapped by our terms. Therefore, they can withdraw their stake at any time before the maturity date, but after the early withdrawal dates have been announced.
Early withdrawals for both pink diamond and gray diamond will start on May 5 at 5 PM UTC. However, an early withdrawal will affect stakers’ rewards. For instance, the pink diamond option will only give staking rewards at 25% APY and grey diamond at 32% APY for withdrawing your tokens before the maturity period is over.
Step-by-Step Tutorial
The Staking program is open to everyone — users have a choice to use either Metamask or TrustWallet. In this tutorial, we’ll show you how to stake via Metamask, the most popular web 3.0 wallet of choice. You’ll need to configure your Metamask wallet if you want to connect and interact with the Binance Smart Chain
- It’s recommended to use a compatible web browser that supports MetaMask (ideally Chrome, Brave, FireFox).
- Have some BSC in your wallet to pay for the transaction fees — these are usually small
- Please be aware of the potential risks of staking
- Configure Metamask for the Binance Smart Chain. Please read the official Binance Tutorial to learn how to addand connect to the Binance Smart Chain
- The official KIAN BSC20 Smart Contract Address is:
0x5ece3f1542c4e1a06767457e4d8286bea772fc41
Here’s a step by step guide so you can stake on Kianite’s portal:
Step 1) Head over to the official Kianite Staking Portal
Step 2) Choose your desired Staking Pool — then you can proceed by clicking ‘Start Staking’
Step 3) You’ll then be redirected to the Staking Pool Page
Step 4) Enter your address and double-check to verify it’s correct. Then click Stake Now
Step 5) A pop-up screen to your MetaMask wallet will appear — proceed by clicking ‘Confirm.’ You’ll be prompted to approve the transaction and then pay the required gas fee in order to officially make the deposit into the staking pool
Step 6) Allow the transaction to be finalized. To confirm if you have successfully staked, click on ‘Your stake balance.
And that’s it! You can now consider yourself a pro Kianite staker!
About Kianite
Kianite is a DeFi protocol based on the Binance Smart Chain with a mission of providing DeFi solutions that can be vertically integrated to allow users to maximise their investment. Kainite produces indexes with the goal of providing long term investable indexes that maximise the users profits. We achieve this by curating a portfolio of assets whose cryptocurrency is performing well on the marker. Kianite’s goal is to offer a suite of products ranging from investment to liquidity that can interoperate, allowing users to maximise the interest they can earn on their investment thanks to vertical integration. Kianite is a user-centric platform that gives them the power to govern and decide its future direction.
Do not miss out on our traditional staking pool program that opened on May 4, 2 PM UTC. Be sure to keep checking the staking pool site as well as our social media sites to learn more about the staking programs, as well as other important announcements about it and other Kianite achievements.
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