Nov 17, 2021
Porta Network is Launching $KIAN Staking to Reward Holders
[Update: All staking pools are closed]
From Thursday 18th November at 1pm UTC, $KIAN holders will be able to stake tokens to receive $KIAN tokens as an award.
As a new Layer 1 blockchain built with Substrate, we want to reward early supporters and token holders.
Shane Benjamin, Founder & CEO of Porta Network, had this to say about the upcoming $KIAN staking launch “After rewarding Porta community and our testnet validators — we wanted to reward long-time and new $KIAN holders for their support of the network.”
Staking Pools
Initially, $KIAN holders can stake $KIAN tokens in the following pools:
Pool 1 [Has ended]
- Duration: 30 days
- APR: 30%
- Minimum lock up: 14 days
- Maximum stake: 50,000 $KIAN
- This pool is initially capped at 3 million $KIAN
Pool 2 [Update: Pool 2 has been filled]
- Duration: 60 days
- APR: 50%
- Minimum lock up: 21 days
- Maximum stake: 50,000 $KIAN
- This pool is initially capped at 2 million $KIAN
Pool 3 [Update: Pool 3 has been filled]
- Duration: 90 days
- APR: 70%
- Minimum lock up: 30 days
- Maximum stake: 50,000 $KIAN
- This pool is initially capped at 1 million $KIAN
How to Stake
Step 1
Add $KIAN via the Binance Smart Chain network to your Metamask wallet on a browser. As $KIAN is a BEP-20 token, you will need BNB to complete transactions.
You can buy $KIAN from the following exchanges:
- MEXC
- Bibox
- PancakeSwap(Contract address: 0x5ece3f1542c4e1a06767457e4d8286bea772fc41)
Step 2
Visit stake.porta.network to stake your $KIAN.
Step 3
Connect your MetaMask wallet to the staking platform.
Step 4
Select your staking pool by clicking on the “Stake $KIAN”.
Step 5
Allocate your $KIAN tokens and click on the “Stake $KIAN” button to stake your tokens.
Step 6
Check how much $KIAN you have staked. You can claim your $KIAN tokens as a reward each day at 6pm UTC.
If you have any questions about staking, simply head to our Discord in the #staking channel or Telegram to contact the team.
The team will be introducing additional staking pools to accommodate market demand over the coming weeks and months.
Staking FAQs
What is staking?
It is locking tokens, in this case $KIAN, in a smart contract to earn tokens as a reward. The smart contract calculates the APR based token rewards on the amount you have staked and how long your tokens have been in the staking pool.
What is consensus does Porta use?
Porta uses a Nominated Proof-of-Stake (NPoS) mechanism.
Are you offering single-sided staking?
Yes, you will only require the $KIAN token to stake and receive $KIAN as a reward for staking.
How are the rewards calculated?
The rewards are calculated using smart contracts. The amount of $KIAN rewards you will receive is based on the amount of $KIAN you stake, how long you stake for and the APR in your staking pool of choice.
What is minimum lock up?
It means how long your staked $KIAN is locked into your selected staking pool.
When will I get my $KIAN token as a reward?
You can claim your $KIAN tokens as a reward each day at 6pm UTC.
What does “initially” capped mean?
Each staking pool has a certain amount of $KIAN allocated to it. The team has the flexibility to add additional staking pools in the future.
Is there a minimum amount of $KIAN I need to stake?
There is no set amount but you will need $KIAN to participate in staking.
When can I withdraw my staked amount?
After your staked amount has surpassed the minimum lock-up period, you will be able to complete a withdraw of your staked $KIAN.
Are there any deposit fees that I need to pay in order to stake?
The only fee you will pay is the network transaction fee.
