KuCoin launches WAN token staking program
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Answer KuCoin launches WAN token staking program
KuCoin, one of the major cryptocurrency exchanges, has announced its collaboration with the Wanchain blockchain network to launch the WAN Soft Staking Program.
WAN Soft Staking aims to generate returns for users who own WAN tokens.
According to the source, the start of the WAN Soft staking program will be available from September 4, 2019.
WAN Soft Staking Official Rules – Wanchain (WAN) Holding’s Cashback Investment Program
To maximize the benefits for users who hold Wanchain (WAN) on the platform, KuCoin launched the WAN Soft Staking Program.
Official rules:https://t.co/Dp21YPW0caTweet embed pic.twitter.com/f4EDcwMgch
– KuCoin Updates (KuCoinUpdates) September 1, 2019
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As for the staking process and how to benefit from it, we can return to the topic for more information:
What is the staking process in the cryptocurrency world?
Rules for participating in the WAN Soft staking program on the KuCoin platform:
- Authentication by all participants that the KuCoin platform has the right to use their WAN coins on their behalf for staking purposes.
- The KuCoin platform will calculate the staking based on the total value of the tokens owned by the users.
- Distributing the revenue generated on each day to its beneficiaries on the following day, and this amount is stated under “My Bonus” on the KuCoin platform.
- The revenue collection process is only allowed by the user when the revenue from WAN exceeds 0.000001.
- The KuCoin platform provides a person with the ability to exchange WAN coins with other tokens and currencies in case the user wants to withdraw their funds while queuing WAN coins to avoid any kind of fraud.
The announcement of the rules was also accompanied by a warning that delays may occur during the processing of the WAN token withdrawal process.
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Those who do not wish to participate and enter the announced staking program can withdraw or convert their WAN coins on the KuCoin platform and convert them to another currency before September 4th, otherwise the KuCoin system will automatically consider them as participants.
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Binance platform adds staking feature to Komodo coin and token (KMD)
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