Wanchain’s engineering team is hard at work on the full implementation of our Proof of Stake solution, which will go live in Q4. We can’t wait to share our PoS research paper with you later this month. In the meantime, we’re running the staking pilot to engage our community and reward participants to get a taste of staking WAN.
Bottom line: Compete with other community members to gain a spot in the 3-month staking pilot. The highest amount of WAN wins, and ties will be determined by who sent WAN first. Those who make it into the staking pilot will receive 4% rewards on up to 5000 WAN after three months (16% annualized return).
Key Dates: Bidding Period Starts: March 15 at 0:00 UTC (timezones below)— Do not send WAN before this time.
Key questions you’ve had:
- What is the 2-week Bidding Period? During these two weeks (March 15-March 31), people send in WAN to the staking smart contract address to try to win a spot in the 3-month staking period.
- How do I win a spot? Winning addresses will be selected starting from the top leaderboard until the 4 million WAN limit has been reached. The 4M WAN cap includes any amount over 5,000 WAN sent by addresses.
- Can I send WAN from an exchange wallet? WAN must only be submitted from any wallet for which the user holds the private key (e.g. Wanchain Desktop Wallet, Ledger/Trezor). Do not send WAN from exchanges such as Binance. This will ensure we can properly return your funds. If you send money from an exchange, you WILL lose your funds.
- What is the smart contract address that I send my WAN to?
Staking Pilot Smart Contract:0x33fc0c6b7fc83691e42855b14832d486c9a09e67
You can verify the smart contract address with the following MD5 Checksum: (MD5: 8EAF6268425212146F10F71301B79E55)