Quick Guide to IFS Staking (alpha) | Hawala.Today
So you’re having some trouble figuring out how to stake your HAT tokens? No worries, just follow the steps:
!! IMPORTANT !!
Ensure that you have the latest build of the Hawala Staking Wallet (alpha): https://www.hawala.today/download.php
Interaction with the staking mechanism (adding, claiming, canceling) costs gas fee (ETH)
(we recommended checking ethgasstation.info for SafeLow price)
1. Make sure you have loaded your wallet (double-click it)
2. Once the wallet is loaded and you can see your token amounts, click Add More Stake
3. Enter the amount you want to stake
4. Set the gas price and limit
5. Confirm stake
6. A confirmation with Tx Hash will pop-up
Claiming and Canceling
1. Click Claim to receive your stake rewards / Click Cancel to remove tokens from stake
2. Set the gas price/limit
4. A confirmation with Tx Hash will pop-up
1. Do I need to have Ethereum (ETH) in my wallet to stake?
Yes! ETH is required to pay gas fees when making transactions or staking.
2. Do I need to keep my wallet/device online to stake?
No! You only need to set your stake and you can log out or power off your device. Your staked tokens will remain intact.
3. How much reward can I expect?
The first two years of the IFS model will reward token holders who stake, at a rate of 15% each year. You can check the full IFS model for rates of each year (in the whitepaper).
– 0.041% per day
– 0.28% per week
These calculations are based on a fixed cycle period of 365 days.
4. Where can I check my transactions?
To view your transactions, click View Stake History. Double-click the click the Tx ID and you will be linked to etherscan.io. The history also records token transfers.
5. How does the IFS staking work?
IFS model is designed to mint tokens by incentivising holders to stake their HAT tokens and rewarding them with these newly minted tokens, proportionate to their stake amounts.
1. Once the stake is confirmed, the staking cycle begins. The timer counts down 72 hours (3 days) before the stake rewards are claimable.
2. As the countdown finishes, the Claim button becomes active. Claiming right after will give user rewards for the 3 days.
3. If user stakes for ‘n‘ number of days, they must keep in mind that stake rewards accumulate every 3 days. This means, if user claims after n=11 days, they will get reward for only 9 days (three completed 3-day intervals). The remaining reward for (11-9) 2 days will be discarded.
Alternatively, if user claims after n=12 days, they will get reward for all 12 days (four completed 3-day intervals)
4. When user claims rewards, the stake cycle resets and user has to wait for the 72-hour countdown to claim again. Claiming does not remove tokens from stake. It simply collects the rewards.
5. To remove funds from stake, you must Cancel. This removes all tokens on stake back to the wallet balance.
6. I’m getting ‘Bad Wallet’ error. Why?
Please ensure you have the latest build installed. Check here for the updated build: https://hawala.today/download.php
If the error persists, please contact one of the admins in Telegram chat (t.me/hawala_chat)
7. Can I leave my tokens on stake and forget about it?
Technically, you can. The wallet does not need to remain signed in neither does the device need to remain powered. However, you must understand that the IFS system is designed to reset itself when it shifts into the next year. This will also erase the unclaimed rewards.
Users must claim their rewards before 31st December in every year of the IFS model, until total supply is reached, in order to avoid losing out on earned incentives.