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Community

IOST New Staking Mechanism Now Unveiled!

IOST | 03.25| 16

On March 10th, IOST Node Program v2.0 took effect and now it is launching its new Staking Mechanism to better fulfill the users’ needs.

IOST New Staking Mechanism is officially released now with immediate effect. Now, it only takes three days for on-chain voters to unstake, comparing to seven days previously. This enables voters to have more flexibility while enjoying high returns.

At this point, the freeze period for all voting channels on IOST has been shortened to 3 days. For other voting channels, such as the Huobi pool, OKEx pool, OB pool, Liebi pool, Cobo pool, BigOne, KuCoin (part of IOST Soft Staking Program), etc., please follow their official announcement channels for more information regarding the freeze period.

Read the following content for more details of the new IOST Staking Mechanism.

Nodes

1. How to become a node of IOST?

  1. Any individual or team that is interested in becoming an IOST node, please fill out the application form and you will become a candidate. Application form link: https://iost-eng.typeform.com/to/MQzgbm
  2. You will be an officially elected Partner node once getting 2.1M votes.
  3. There are no technical requirements, as IOST will provide comprehensive technical support.
  4. To become a Servi node who produces blocks, you must meet the minimum of 10 million votes requirement. To learn more about Servi node application, please click here.

For more details, please contact:

  • Telegram @officialios on telegram
  • Wechat: IOST999

2. Node Rewards

Nodes with more than 2.1 million votes are eligible to share a reward pool of 4% IOST total supply (840,000,000 IOST) every year, in which 25% are election rewards, 25% are block production rewards, and 50% are contribution rewards. Read more.

Voters

1. Voting rules:

  1. 1 staked IOST = 1 vote.
  2. One account can vote for multiple candidates, and candidates can also vote for themselves.
  3. Pledged tokens used to purchase resources can’t be used for voting.
  4. Unstaking takes a 3-day freeze period. Rewards generation ceases at the moment of unstaking.
  5. To move votes to another candidate, voters need to redeem pledged tokens first. Hence, you will have to wait 3 days before voting for another candidate.

2. How to Vote

Click this link to learn how to vote in a decentralized fashion:

How to vote for IOST nodes in a decentralized fashion

3. Voter Rewards

As a decentralized network, IOST is owned by you — its users — and the decisions made on its operation, how it develops and its future are determined by you. You have invested in this project because like us, you believe in the future of decentralized ecosystems. By owning part of the network (in the form of tokens), its future value is determined by all involved.

By voting with your tokens, you are deciding who represents you to govern the IOST network and who contributes to the future development of the ecosystem. The full potential of IOST will be realized if Servi Nodes and Partner nodes not only secure the network but also work to build and grow the IOST ecosystem. By voting for the nodes with huge contribution and potential, you are helping to shape the future of IOST and hence will earn rewards in returns.

IOST will distribute the following rewards to voters:

  • 50% of the Election Rewards (from Ecosystem & Token issuance rewards) of their chosen nodes
  • 50 % of Contribution Rewards of their chosen node as ‘share’.

When the nodes receive their rewards, voters will get their own dividends. IOST only distributes the above-mentioned part of dividends (contribution and election rewards) and is not responsible for distributing block rewards & other extra rewards to voters should one node has the rule to share more rewards with its voters.

You can view the voting rewards of each node partner in the IOSTABC browser.

IOST voting | IOST Blockchain Explorer

IOST Foundation welcomes and encourages more community members to join IOST Node Program. Voting, apart from generating rewards also determines the future of IOST.

Join IOST Community

More than 400 nodes, over 500,000 community members & supporters, ranks top staking economy in the global comprehensive index, ranks #6 among 37 crypto projects in the general index and #3 in the basic-tech index by the CCID Global Public Chain Technology Assessment Index and so many more accomplishments to list, it is undeniable that IOST has been making great progress & influence worldwide. And we owe this to the unwavering support of our nodes & community members.

Chinese Government-Backed Institute Releases New Ranking of 37 Crypto Projects

If you would like to hang out with the IOST community, we have something for everyone:

…………………………………………………….


IOST New Staking Mechanism Now Unveiled! was originally published in IOST on Medium, where people are continuing the conversation by highlighting and responding to this story.

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