Starting from today, users can stake IOST to earn passive income on Moonstake Web Wallet. Through formal technical collaboration with the seasoned development team behind IOST, the integration fulfills its promise of bringing about a satisfactory staking experience for IOST holders on Moonstake Wallet.
Now users of Moonstake Web Wallet can hold, send, receive, and stake their IOST to receive rewards with the best user experience through one single click. After Cosmos, IRISnet, Ontology, Harmony, Tezos, Cardano, Qtum, Polkadot, Quras, Centrality and Orbs, IOST became the 12th available staking coin on Moonstake.
Moonstake started the staking business last year with the aim to create the largest staking network in Asia. Since then, we have developed the most user-friendly Web Wallet and Mobile Wallet (iOS/Android) with support for over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake’s total staking assets have grown rapidly to reach $1 Billion, allowing Moonstake to become one of the top 10 staking providers globally.
Meanwhile, IOST is an enterprise-level blockchain network developed for online service providers. It utilizes a unique, breakthrough consensus algorithm called “Proof of Believability” (PoB) that allows high transaction throughput speeds and virtually zero gas fees while all the nodes stay secured and compliant.
Moonstake and IOST announced their partnership earlier this month, in which Moonstake will become an official node partner of IOST to enable seamless staking experience of IOST assets for crypto holders on the Moonstake platform. The two projects have expressed keen interest in exploring deeper collaboration opportunities beyond becoming node partners.
To celebrate the launch of IOST staking, Moonstake is running a special campaign that allows users to create a free IOST account right inside the wallet interface. This offer will only run from from 25 to 31 May 2021 so hurry up and get your free IOST account with us.
How to create a free IOST account on Moonstake through this campaign:
(If you are a new user)
1. Register with Moonstake Web Wallet (https://wallet.moonstake.io).
2. IOST is already added to your Wallets screen by default. Proceed to step 3 below.
(If you need to add IOST to an existing Moonstake Wallet)
1. On Wallet, click the “Add coin” button to add IOST.
2. Enter your wallet password to confirm the addition of IOST.
3. From the wallet screen, select IOST and click the “Create Account” button.
4. That’s it! The free IOST account will be created for you automatically.
How to stake IOST on Moonstake Wallet
1. From the wallet screen, select IOST. If you do not have an IOST account yet, please click “Create Account”.
2. Obtain GAS and RAM before staking (see How to Obtain GAS and RAM below)
3. To start staking IOST, click “Stake Now”.
4. Confirm the staking information, then click the “Staking” button and enter your wallet password.
How to Manage GAS and RAM
GAS is used as a fee for the use of IOST. When you first create an IOST with Moonstake, your GAS limit will be 3 million, with about 1 million immediately available for use. By pledging (locking) your IOST, you can increase this GAS limit.
1. Click “Manage” from the available GAS on the Staking screen.
2. Click on Pledge Quantity from the Available GAS screen and enter a value in the Pledge Quantity field. The GAS limit will increase by 300,000 per IOST.
3. If you wish to obtain GAS in your current account, leave this field as is.
4. Click “Continue” and enter your wallet password to complete the pledge.
Meanwhile, RAM is used in staking IOST and you can exchange RAM on Moonstake as follow:
To buy RAM:
1. Click the “Purchase” button on the Available RAM screen.
2. Enter the quantity in the “RAM Quantity” field on the Available RAM screen.
3. If you wish to purchase RAM for your current account, leave this field as is.
4. Click “Continue” and enter your wallet password to complete.
To sell RAM:
1. Click the “Sell” button on the Available RAM screen.
2. Enter the quantity in the “RAM quantity” field on the Available RAM screen.
3. Click “Continue” and enter your wallet password to complete.
You need both GAS and RAM to stake as well as unstake IOST.
How IOST Staking Works:
GAS and RAM are required when staking, unstaking, and receiving staking rewards. GAS can be obtained by pledging IOST and RAM must be purchased by IOST. GAS limit can be increased by pledging for other accounts and RAM can also be purchased for other accounts.
How to get Rewards for IOST staking:
The staking rewards are paid out daily and the Ecosystem Bonus Rewards are paid out quarterly. To get the staking reward displayed in the reward column of the staking screen, click the “Receive Reward” button at the bottom of the screen. Please confirm the displayed contents and enter the sending password. Note that GAS and RAM are required to receive the reward.
How IOST unstaking works:
If you wish to redeem your votes (unstaking), it takes 3 days. After redemption, you can vote again, trade or withdraw. Note that the distribution of rewards will stop once you initiate the vote redemption process.
Moonstake looks forward to deeper cooperation with IOST to bring the valuable staking ecosystem to coin holders worldwide.
Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.
Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia’s burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan’s biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore-listed company. Industry’s reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake’s innovative journey.
With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 800 Million. https://www.moonstake.io/
Supported by Sequoia, Matrix, ZhenFund, and other major investors, IOST is an enterprise-level blockchain platform developed for online service providers.
The IOST project team is currently mainly composed of R&D personnel focusing on blockchain distributed technology. The team is formed by experienced blockchain industry experts who have graduated from world top universities such as Princeton, Stanford, MIT, Tsinghua University, and Beijing University.
With a two-year-old mainnet, IOST has swiftly risen to become a world-leading public chain renowned for its numerous government collaborations and enterprise partnerships around the world. IOST is one of the Big Four public chains with a rich user base and real applicability alongside Ethereum, EOS, and TRON. 500,000 community members, over 20 countries worldwide, over 400 nodes, top staking economy, and growing. https://iost.io/
Topic: Press release summary