Announcing the redelegation of staked FNSA to new nodes

Hello, this is the Finschia Foundation.

We would like to inform you of an important announcement regarding the FNSA staking on the Finschia mainnet. The Finschia Foundation is preparing for the transition to a public chain in stages, starting with the unveiling of new nodes and Finschia Governance Members (FGM) to ensure the stability and scalability of the Finschia network and grow the ecosystem together.

Once the new nodes are added, we will go through a three-week transition period to complete the launch of Finschia Governance. Holders who have staked their FNSA on the Foundation node are requested to redelegate to the new Finschia Governance Member (FGM) node as described below. FNSA holders can easily change their nodes via the ‘Redelegate’ feature on LINE Blockchain Scan and DOSI Vault Mobile, and we strongly recommend that you use this feature to make the transition. no

※The redelegate feature allows you to make changes to a node quickly and reliably when redelegating.

FNSA holder guide to the Finschia Governance launch timeline

Node redelegation FAQ

Do I need to redelegate to new nodes?

• For users who delegated a certain amount of FNSA to the existing Finschia Foundation nodes (F-I-N-S-C-H-I-A) , we strongly request that you redelegate to the new FGM node by following the guide above. If you remain delegated to the Foundation node after 2 weeks of FGM node operation, you will NOT be rewarded.
  ※Foundation nodes: Flourish, Inspire, Nature, Spirit, Confidence, History, Illuminate, Artificial

When should I complete the required redelegation?

• When new FGM nodes are generated, the existing Finschia Foundation nodes will be invalid three weeks after the new nodes become available for delegation.
• (1) 7/13~7/27: Rewards distributed for Foundation node and new FGM node
• (2) 7/28~8/3: Rewards on Foundation nodes (F-I-N-S-C-H-I-A) will be discontinued
• (3) 8/4~: Foundation nodes (F-I-N-S-C-H-I-A) become invalid and FNSA will no longer be delegated to Foundation nodes.

Is it necessary to undelegate a previously delegated node before redelegating? Are there any limitations on the number of times I can redelegate?

• No, redelegation to another node is possible using the redelegate function, without releasing the FNSA deposited at the original node. However, if additional redelegation is performed from one node to another node after the initial redelegation, the FNSA that has been redelegated will require 24 hours of waiting time. There is no limit to the number of redelegations, but each transaction (Tx) requires a 24-hour of waiting time.

How can I redelegate on LINE Blockchain Scan?

• (1) Select the Wallet > Accounts tab at the top right of LINE Blockchain Scan.
• (2) Navigate to the Account Details by pressing the Detail button in the bottom left corner of FINSCHIA MAINNET box.
• (3) Check 'My Deposit Status' in the Delegation and select the Redelegate button to the right of the validator you wish to redelegate to. (Shuffle shaped button)
• (4) Enter the required information and click the Send button.

※To avoid errors, please read the instructions at the bottom of the LINE Blockchain Scan.

How can I redelegate on DOSI Vault mobile?

• (1) Log in to your personal wallet.
• (2) Select a staking feature.
• (3) Delegate to a node or change the delegated node.
• (4) Redelegate to another preferred validator’s node.
• (5) Changing delegations is subject to a fee.

※Examples correspond to step 4 onwards.

We appreciate your understanding and cooperation in this matter. By re-delegating your staked FNSA to the new nodes, you are contributing to the continued growth and stability of our Finschia ecosystem. If you require any assistance or have any questions regarding the re-delegation process and/or FGM, please contact our team here.

Thank you for being a valuable member of our community.

We are the blockchain for all.

Finschia Foundation

Disclaimer: The FNSA staking and swapping activities available on the blockchain mainnet “Finschia” are not regulated and are not provided under the Finschia Foundation license.