Phala Network
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Phala Network

KSM Stakedrop FAQ

Tutorial

1. What is KSM?

KSM is the native token of Kusama.

Kusama is an early, unaudited and unrefined release of Polkadot. Kusama will serve as a proving ground, allowing teams and developers to build and deploy a parachain or try out Polkadot’s governance, staking, nomination and validation functionality in a real environment. — kusama.network

2. How to obtain KSM?

The genesis distribution of KSM will be exactly as for DOT: if you purchased DOTs in the sale then you own an equal share of the Kusama network. The Web3 Foundation will use some of its holdings to fund a frictional faucet for those that do not currently hold DOTs. Here’s how to claim KSM.

Alternatively, a public faucet and a KSM grants process will also be made available upon genesis. — kusama.network

3. How many KSM do I need to attend KSM stakedrop? How long should I stake?

At least 10 KSM and staked for at least 30 days.

4. How is the PHA reward calculated?

Please check the rules.

5. Do I have to pay extra fees or commission for this stakedrop?

Phala will charge no fee for this stakedrop.

6. How do I claim PHA?

PHA will be delivered to your ETH address as an erc20 token. Detail about how to claim will be published at the end of this event (15th Aug).

7. What if I want to stake for both whitelisted and normal validators? How would my reward be calculated?

It’s ok that you can stake for whitelisted and un-whitelisted validators simultaneously. PHA reward will automatically be calculated according to the amount of KSM you stake for whitelisted validators.

  • Example: Mr.Gavin staked 100 KSM for 3 validators for 30 days, 80 KSM for whitelisted validators, and 20 KSM for normal validators, his reward would be calculated according to 80KSM * 30days.

8. What if I accidentally interrupt the nomination in the middle of my staking?

Don’t worry, Phala’s stakedrop script will also automatically calculate the total staking time as long as you will continue stake for whitelisted validators.

  • Example: Mr.Gavin intended to stake 100 KSM for whitelisted validators for 30 days, if he stopped at day 28, but restart staking after he noticed for 2 more days, his reward would be calculated according to 100 KSM * (28+2) days.

More questions will be added here if they are frequently asked. You can also submit your questions at https://forms.gle/tGT8zAkkYLdePPHM9 and we would answer them through email. :)

About Phala

An early Substrate-based confidential smart contract blockchain on which you can develop confidential-preserving and privacy-first blockchain apps. Member of Parity Builders Program starting lineup. Recipient of Web3 Foundation Grant.

🌐Official Website | Twitter | Github | Telegram | Forum

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Phala Network is a privacy-preserving cloud computing service, based on Substrate, and will run as a parachain in the Polkadot ecosystem to offer computing power comparable to existing cloud services but which protects the privacy of managed programs.

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Infrastructure of Web3.0 privacy protection

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