TABLE OF CONTENTS
- What is ALGO staking?
- When will I receive my ALGO staking rewards?
- Will my staking rewards be automatically re-staked? Are ALGO rewards compounding?
- How do I earn staking rewards on CoinList?
- How much are ALGO staking rewards?
- Do I have to buy my ALGO on CoinList to earn staking rewards?
- Who is eligible to earn ALGO staking rewards on CoinList?
- When will I be able to withdraw my ALGO staking rewards?
- What are ALGO staking rewards paid out in?
- How do I opt-out of ALGO staking rewards?
What is ALGO staking?
ALGO is the native utility token for the Algorand blockchain. Instead of using miners and a Proof-of-Work (PoW) consensus mechanism to verify transactions and maintain the integrity of the Algorand blockchain, Algorand uses a Pure Proof-of-Stake (PPoS) consensus mechanism. Each user’s influence on the choice of a new block is proportional to its stake (number of tokens) in the system. Users are randomly and secretly selected to propose blocks and vote on block proposals. All online users have the chance to be selected to propose and vote. The likelihood that a user will be chosen, and the weight of its proposals and votes, are directly proportional to its stake. Algorand’s PPoS approach ties the security of the whole economy to the honesty of the majority of the economy, rather than to that of a small subset of the economy. The system is secure when most of the money is in honest hands.
When will I receive my ALGO staking rewards?
Once per month, CoinList will distribute rewards to users pro-rata of their average holdings over the month. We will notify you via email once your rewards have been distributed into your CoinList wallet.
Will my staking rewards be automatically re-staked? Are ALGO rewards compounding?
Yes, your ALGO staking rewards are automatically re-staked and earning additional rewards unless you withdraw or trade them. ALGO rewards are compounding daily, but are only distributed once per month.
How do I earn staking rewards on CoinList?
When you deposit or purchase a supported Proof-of-Stake (PoS) asset on CoinList, you may be eligible to receive staking rewards by having that asset in your CoinList wallet.
Once you deposit an eligible asset into your CoinList wallet, you are automatically opted into staking rewards. There is no action on your end required to participate, but you may opt-out of staking rewards on CoinList at any time by sending us an email at email@example.com
How much are ALGO staking rewards?
The ALGO network currently has an estimated 5.18% annual rate of return for users that have ALGO deposited into their CoinList wallets. Please note that this estimated 5.18% is subject to change and does take into account the 10% CoinList commission fee.
Do I have to buy my ALGO on CoinList to earn staking rewards?
No. Users who have procured their ALGO from other means or trading venues are able to deposit their ALGO into their CoinList wallet and start passively receiving staking rewards.
Who is eligible to earn ALGO staking rewards on CoinList?
Anyone who is able to open up a wallet on CoinList and deposits ALGO into their account is eligible for ALGO staking rewards on CoinList. CoinList wallets are not available in all jurisdictions, please visit this page to see our list of approved jurisdictions.
When will I be able to withdraw my ALGO staking rewards?
Once your ALGO staking rewards are distributed into your CoinList wallet, you will be able to withdraw and/or trade your ALGO. Typically withdrawals will be instant.
What are ALGO staking rewards paid out in?
ALGO staking rewards on CoinList are paid out in ALGO. This means you will passively accrue additional ALGO by keeping your ALGO in your CoinList wallet.
How do I opt-out of ALGO staking rewards?
You will automatically receive staking rewards by holding ALGO in your CoinList Wallet. If you would like to opt-out of ALGO staking rewards, please email firstname.lastname@example.org.