HomeNewsIOTA Dominates the Staking Wave: Round 6 Unleashed with Epic Rewards Await

IOTA Dominates the Staking Wave: Round 6 Unleashed with Epic Rewards Await

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    • The sixth round of IOTA staking for Assembly Network’s token (ASMB) starts at 15:00 CET on 19 May 2023 and ends on 17 August 2023. A total of 20% of all ASMB will be distributed to IOTA stakers over a 24-month period.
    • Staking can be done through the Firefly wallet 1.7.2 desktop release. It not only facilitates staking for this round but also shows the total tokens gained from previous five rounds and monitors current rewards.

Launch of IOTA Staking for Assembly: Round Six

On 19 May 2023, at 15:00 CET, the sixth round of IOTA staking for ASMB, Assembly Network’s token, will commence. This round of staking will run for a 90-day period until 15:00 CET on 17 August 2023. The pre-staking phase is presently underway.

Throughout the Assembly staking events, 20% of the entire Assembly token supply is allocated for IOTA stakers, to be distributed over 24 months. To participate, you need the Firefly wallet’s 1.7.2 desktop release which can be downloaded from the Firefly website. Firefly allows participation in the current staking round and provides a comprehensive view of your token rewards, both current and from the past five rounds.

Timeline and Guidelines for Staking Process

The timeline for the sixth staking round is as follows:

      • The pre-staking phase has already begun, during which users can start pre-staking their IOTA tokens.
      • At 15:00 CET on 19 May 2023, the 90-day staking period begins. Participating holders will start receiving staking rewards in their wallets. For each MIOTA staked, users will receive 0.000001 ASMB every 10 seconds (or one microASMB) for up to 90 days. Each staked wallet must accumulate at least 1.0 ASMB (1,000,000 microASMB) during this period for the airdrop to be received.
      • The staking period concludes at 15:00 CET on 17 August 2023.

To start staking, users need to download and install version 1.7.2 of the Firefly wallet. To initiate the staking process, you need to log in to your profile using your PIN, navigate to the staking tab and follow the instructions to either “pre-stake” or “stake” your tokens. It is crucial to remember that each wallet within a user profile must be staked separately.

Understanding the Staking System and Rules

When you mark IOTA tokens for staking, a transaction with attached metadata is sent, indicating your intent to stake with the marked funds. Tokens in each wallet need to be individually marked for staking, since any funds staked in a specific wallet will be transferred to an address within the same wallet.

Staking rewards (ASMB) will start arriving in your wallet from 15:00 CET on 19 May 2023, after the end of the pre-staking phase. The total rewards per wallet can be viewed by navigating to the staking tab in each wallet.

Remember that staked tokens from a staked wallet can be sent at any time. If you do so, you’ll have to manually re-stake any leftover tokens. If you receive additional funds on a staked wallet, you’ll need to manually stake those tokens.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: [email protected] Phone: +49 160 92211628