IOTA Staking for Assembly: Round 6
The full article was originally published by the IOTA Foundation on blog.iota.org. Read the full article here.
The latest round of IOTA staking for ASMB, the token of the Assembly network, begins at 15:00 CET on 19 May and ends at 15:00 CET on 17 August 2023. The pre-staking phase is currently running.
This is the sixth Assembly staking event. In total, 20% of the entire Assembly token supply is allotted to IOTA stakers, set to be distributed over 24 months.
To participate in this staking round, please use the 1.7.2 desktop release of the Firefly wallet: you can download it from firefly.iota.org. Not only does Firefly enable you to take part in this latest staking round, but it also displays the total number of tokens distributed to you in the previous five staking periods, as well as tracking your current token rewards.
Timeline of Assembly Staking Round 6
- Now: Users can start pre-staking their IOTA tokens during the pre-staking period.
- 15:00 CET, Friday 19 May: The 90-day taking period starts now. Participating IOTA token holders will receive staking rewards in their wallet(s). For each MIOTA staked, IOTA stakers will receive 0.000001 ASMB every 10 seconds (or one microASMB) for up to 90 days. Each staked wallet must reach a minimum amount of 1.0 ASMB (1,000,000 microASMB) during this period for the airdrop to be received. Rewards from previous distributions do not count towards this minimum.
- 15:00 CET, Thursday 17 August: End of 90-day staking period
Staking with Firefly
To start staking, please make sure that you have installed version 1.7.2 of the Firefly wallet from firefly.iota.org, then follow these steps:
- Enter your PIN to log into your profile and navigate to the staking tab. Please use the Balance Finder under Settings if you can’t see your balance from previous staking periods.
2. Here you can either “pre-stake” or “stake your tokens”, depending on which period you are accessing your wallet in – the three-day pre-staking period or the 90-day staking period (see Timeline above for dates).
Please note! Each wallet that belongs to a user profile must be staked separately.
When you mark IOTA tokens for staking, a transaction is sent to you with attached metadata to indicate that you wish to stake with the marked funds. Any funds staked in a given wallet will be sent to an address on the same wallet, requiring tokens in every wallet to be individually marked for staking.
3. To stake a wallet, simply hit the Stake button. Please note that the app doesn’t have to be open to receive the airdrops once you have started staking.
4. Once you hit Confirm, Firefly will issue the special staking transaction. When this transaction has been confirmed, the user interface will update to show that you are now ready for staking!
You’ll start receiving your ASMB rewards in your wallet starting at 15:00 CET on 19 May 2023, after the end of the pre-staking phase. You can see the total rewards per wallet by navigating to the staking tab in each wallet.
You can also begin staking at any point after 19 May 2023. Your rewards will simply be less, as you won’t have participated in the full token distribution period.
Please note that:
- You can send your staked tokens from a staked wallet at any time. But if you do, you will need to manually re-stake any remaining tokens. Firefly will warn you if you try to send tokens that have already been staked.
- Because of dust protection, you must earn a minimum number of token rewards per address to receive the tokens when the Assembly network launches. The minimum reward for Assembly is 1 ASMB for each staking period. Firefly will inform you if you haven’t yet reached the minimum reward value.
- If you receive additional funds on a staked wallet, you’ll need to manually stake those tokens. Firefly will warn you if you receive tokens on a wallet that is already being used for staking.