[Updated on Feb 23rd ] How to Receive Staking Rewards
The way to receive rewards has been changed since Feb 23rd 2023. This article will introduce the updates on how to receive staking rewards in detail. Staking participants should note the updates.
Overview of the change in staking reward receiving
The staking rewards distribution will be changed in the following points from February 2023.
- The monthlyRewards that were distributed monthly will now be distributed weekly
- The amounts of carryover* and penalty* will be burned
*Carryover: The amount of the unclaimed Skeb Coins during the claim period.
*Penalty: If you leave within a certain period of time (14 days) after joining staking (unstake), you will be penalized 16% of staking rewards.
The Weekly schedule of staking reward claim
- Claim period: Wednesday 12:00 UTC to Sunday 12:00 UTC
- Staking period for determining the number of claimable tokens: Monday to Sunday of the previous week.
For example, the claimable token for March 5th Wednesday-March 12th Sunday will be determined by the staked amount during Feb 27th Monday-March 5th Sunday.
Please note that staking rewards are claimed on a weekly basis and cannot be withdrawn for two weeks at a time in the following week.
How to receive staking rewards
1. Access the following URL and connect to the wallet
https://stake.skebcoin.com/
2. Click the “Claim” button displayed in “Your rewards” section
3. Approve the transaction in your Wallet and wait for the loading to complete
4. When the claim is completed, your total stake will be displayed in the “Your total stake”
If you have any questions, please feel free to ask us in the Telegram group chat.
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