This article was first published on Wanchain Foundation - Medium
Dear Wanchain Community,
We are delighted to present you with an overview of Wanchain’s Storemen node staking plans, details on how to register your interest in the pilot program, and an overview of our new roadmap for 2019. Below we provide a step-by-step guide on how to register and qualify for the pilot program, details on the selection process, and an overview of the program’s timeline.
For any questions related to the Wanchain Staking Pilot, please refer to this Reddit thread.
Staking Pilot Overview
Details of the Pilot:
Amount: 1000–5000 WAN
Participation Reward: 40 WAN per 1000 WAN Staked (4% of WAN Staked)
Total Staking Amount: 4 million WAN
Lock Period: 3-month total
January 2019: Additional details and instructions for pilot participation
March 2019: Bidding starts, and lasts ~15 days.
April-July 2019: Staking Pilot Period
How to join the Staking Pilot?
Step 1 — Submit Interest Form (27 Dec — January 4th)
Register your interest to participate in the staking process between the 27 December and January 4th.
Disclaimer: Filling in the form does not guarantee a staking spot, but those who submit a form will automatically be put in a bidding lottery program (details will come later). The bidding period does not start until March, so you are not disqualified for a chance to participate in the pilot if you do not fill out this form.
Step 2 — The Bidding Period (15 March — 31st March)
Users who would like to participate in the staking pilot will be given a smart contract address to send their WAN to between the 15th and 31st of March. The WAN will then be locked for 3 months.
Since places are limited, WAN addresses with higher bids will have a higher chance to stake. Transaction amounts can be higher than 5000 WAN, and 1 WAN addresses can send multiple transactions to the smart contract ...
To keep reading, please go to the original article at:
Wanchain Foundation - Medium