How To Get IPX From Staking 2.0 On VSYS?
Check This Official Step By Step Guide!
Tachyon Protocol and V SYSTEMS are excited to announce that Staking 2.0 program has started on 18th December, following the listing of IPX token on Bithumb and Bithumb Global!
As the first project in this program, IPX will be distributed to the VSYS holders who stakes their VSYS coins to participate in minting in VSYS network.
Check This Step By Step Guide:
- Download the VSYS wallet
You can use both hot wallet and cold wallet of V SYSTEMS. Download here >>>
2. Get VSYS Coins
Get VSYS Coins at their official exchange partners. Check the available exchanges here >>>
3. Lease Your VSYS Coins
1)Transfer your VSYS coins to your VSYS wallet.
2) Find the best-performing supernode on the vsysrate.com website and lease the stake of your VSYS Coins to the supernode address by the “minting” function in your VSYS coin wallet.
- Supernodes generate blocks to obtain rewards by using coins leased from V coin holders and rewards are distributed accordingly.
- The Lease rewards rule is defined by the organizations that run their nodes. So you may get different rewards for leasing to different supernodes.
- Make sure you don’t lease your coins to a node that has 100% capacity which means the supernode is full and you will not get lease rewards.
- You can check all performance data about the supernode on https://vsysrate.com/
4. Get Your VSYS Rewards
After coin leasing, user can wait for the supernode to distribute the minting rewards.
- If you’re not leasing a large amount of coins on a daily reward supernode, the supernode will give you all of the lease rewards once every three or more days in order to reduce transaction fee costs.
- You can cancel the leasing as you want in the transaction page.
- The basic formula for calculating reward from coin leasing:
MAB = Minting Average Balance (number of VSYS coins with over 1 day of age)
According to the SPoS design, the total number of coins minted by all supernodes in one day is 777,600. Dividing this number with the number of supernodes will result in the number of VSYS coins minted by one supernode in a day.
5. Get Your IPX Rewards
1)A portion of IPX tokens will be allocated to reward VSYS users who participate in staking
- Total amount: 100 million IPX
- Average daily distribution in total: 136986.30136
2) The system will distribute the pool of token to supernodes daily, for a specific time period (depending on the amount of tokens)
- Amount of VSYS Supernodes obtained per day: 136986.30136 / Number of blocks produced by all supernodes * Number of blocks produced by this supernode
3) Supernodes will allocate the tokens to their community members according to the default rate/ rule they set for VSYS reward
- Amount of users obtained: Amount of VSYS coins staked by this user / Total staking amount of the supernode this user belongs to * Amount of this supernode obtained per day * (1-IPX minting commision rate for this node)
For example, it is only used for calculation. The actual situation is subject to actual participation.
- V SYSTEMS produces 1,000 blocks per day.
- Supernode A produces 100 blocks per day, and it has 10,000 staked VSYS coins,and its minting commision rate is 20%.
- Alice has 100 VSYS coins staked at supernode A.
Then the amount of IPX Tokens obtained by Alice per day is 100/10000 * 136986.30136 / 1000 * 100 * (1–20%) = 109.589 IPX
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