KINT Staking App is Live!
A little bird just told us… the KINT staking app is now live!
Tl;dr
- You can start staking KINT — vested and unvested(don’t rush, read on!)
- You can use the staked KINT (vKINT) to vote in governance on https://kintsugi.subsquare.io/
- Rewards need to be activated by a governance vote
- A proposal to activate staking rewards is being discussed and will go to vote shortly
You can learn about Kintsugi governance and staking here:
- Governance intro: https://docs.interlay.io/#/kintsugi/governance
- Staking guide: https://docs.interlay.io/#/guides/stake
Short Primer on Kintsugi Staking
Kintsugi combines governance and staking into a powerful liquid democracy tool: stake-to-vote.
- To participate in governance, you must stake your KINT;
- The longer you stake your KINT, the more voting power you have. Voting power is measured in vKINT;
- The more vKINT, the more staking rewards. Rewards are distributed proportionally to your share of the total vKINT;
- You can stake both vested and unvested KINT.
vKINT is non-fungible and non-transferable. It’s not even a token. It’s just a measure of your voting power (& share of rewards).
Staking in Numbers
- Minimum staking duration:1 week.
- Maximum staking duratio: 96 weeks (= 2x parachain lease period)
- Stake increment: 1 week (e.g. 2 weeks, 5 weeks, …)
- Staking rewards: 500,000 KINT (5% of initial 4 year supply)
- Emission: Linear — 125,000 KINT per year over 4 years
Starting with year 5 staking rewards are 6.7% of 2% annual inflation
vKINT Explained
vKINT is the measure of voting power, combining:
- Number of staked KINT
- Duration of stake lock
vKINT is non-fungible and non-transferable.
The magic vKINT Formula
1 vKINT = 1 KINT staked for 96 weeks
- Your vKINT decreases as time progresses. After 1/2 of the lock period passes, you will have 1/2 of the vKINT — unless you extend the lock time.
- The lock duration is per account! This means: if you lock 1 KINT for 48 weeks and then lock another 100 KINT, you have 2 options:
(A) Lock 100 KINT for 48 weeks or more
(B) Use another account to lock the 100 KINT for a shorter period
More details: https://docs.interlay.io/#/guides/stake
I am ready to stake. What can I do right now?
Staking is live — but rewards need to be activated by governance. Kintsugi is a fully decentralized system and your vote counts! A proposal to activate staking rewards is being discussed and will go to vote shortly.
- DYOR. Familiarize yourself with the risks of staking. This post is merely informational and by no means a recommendation to participate in KINT staking.
- Stake. You can use https://kintsugi.interlay.io/staking to start staking
- Vote. Once the proposal goes to voting (this week), you can use staked KINT (vKINT) to vote on https://kintsugi.subsquare.io/
- Earn. Once the proposal passes — staking rewards will be live.
Now it’s up to you. Take control of Kintsugi. Make your vote count.
About Interlay
We envision a future where blockchains seamlessly connect and interact: anyone can use any digital asset on any blockchain, trustless and without limitations. We work with Bitcoin, Ethereum, Polkadot, Cosmos, and others to expand interoperability, capital efficiency, and openness.
Our flagship product is interBTC — Bitcoin on any blockchain. A 1:1 Bitcoin-backed asset, fully collateralized, interoperable, and censorship-resistant, realizing the true free nature of BTC and decentralized finance. Kintsugi is Interlay’s canary network, an experiment with real economic value deployed on Kusama.
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