What is staking?

Staking allows CoolWallet Pro users to HODL their assets while earning passive rewards!
  1. What is staking?
  2. What coins can I stake through CoolWallet Pro?
  3. How long can I receive my staking rewards?
  4. Is my staking auto-compounding?
  5. Is there any lock-up period?

1. What is staking?

Staking is a service based on the DPoS (Delegated Proof of Stake) consensus mechanism. You can delegate your assets to a designated validator and earn rewards. The form of reward will come in the same coin as your delegation. If you want to retrieve the delegated assets, you can end the delegation (unstake) after the lock-up period expires. 

2. What coins can I stake through CoolWallet Pro?

Here is a list of the supported Staking services:

3. How long can I receive my staking rewards?

  • DOT -  Rewards are distributed daily, and will directly go into your DOT wallet address.
  • ATOM - Rewards are distributed daily. Rewards are claimable on the staking page.
  • TRX -   Rewards are distributed daily. Rewards are claimable on the staking page. (only claimable once per 24 hours)
  • XTZ - The first rewards will be distributed in 30-44 days. After the first rewards, rewards will go directly to your XTZ wallet address every 2-3 days. 
  • SOL - The first rewards will be distributed in 4-6 days. After the first rewards, rewards will go directly to your SOL stake account every 2-3 days. 

4. Is my staking auto-compounding?

  • DOT - No. 
  • ATOM - No. 
  • TRX - No. 
  • XTZ - Yes (Auto-Compounding)
  • SOL - Yes (Auto-Compounding)

5. Is there any lock-up period?

  • DOT - When you unstake, you have to wait for 28 days before you can manually claim your stake.
  • ATOM - When you unstake, you have to wait for 21 days before you can manually claim your stake.
  • TRX - After you stake, you have to wait for 3 days before you can claim your stake.
  • XTZ - No Lock-up Period
  • SOL -  When you unstake, you will need to wait 0 - 2 days until the end of each epoch.

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