The New Staking System is Live!

The New Staking System is Live!

Essential Info

  • The first weekly epoch of the new staking system has begun. The staking program will award 20% APR until further notice.
  • Rewards are accrued at the end of each epoch, given that your CHR tokens have been staked and delegated uninterruptedly for its entire duration, without requesting a withdrawal.
  • Your rewards become available at the end of each epoch, meaning that your reward balance will display as 0 until you have met the above conditions for one full epoch.
  • Users can claim rewards at any time after they appear in their reward balance. Users may allow rewards to accumulate over time and claim them all at once, if they wish.
  • Rewards earned under the old contract were calculated based on a cut off date of Friday June 23rd. If your rewards have not been received yet, rest assured that the team is working towards completing the distribution. The community will be notified when the process is completed.

Additional Info

  • In the new system, initiating a withdrawal request makes you immediately ineligible for rewards.
  • The waiting period between requesting withdrawal and being able to withdraw is still 14 days.
  • If you add additional CHR tokens to your stake, you begin earning rewards on the new total at the beginning of the next epoch.
  • There is no ‘deadline’ to delegate, as the feature is now a permanent part of the staking process. Although stakers who did not delegate by 15:50 UTC on June 24th became ineligible for week one rewards, they may complete the process at any point in the future and become eligible starting with the next weekly epoch.
  • Stakers may switch the provider they are delegating to at any time. This does NOT affect rewards eligibility in any way.
  • Stakers are rewarded at the same rate regardless of which provider they delegate to. Our current list of system providers are being closely monitored by the Chromia team, meaning that any choice is a good choice. In the future, when our provider list expands, delegation will play an increasingly meaningful role in network governance.

If you have any additional questions or require support with the staking interface, please visit our official Telegram channel or our official Discord server.

About Chromia
Modern society runs on data and every online service you’re using is built upon underlying databases - ranging from your online bank to music streaming and gaming. Chromia is a relational blockchain - a combination of a relational database and a blockchain - making it easy to develop user-friendly decentralized apps for almost any industry, including DeFi, NFTs, gaming, and more.

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