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Staking FAQ
In this section, you can find instruction and faq about Kommunitas Staking Platform. If you want to add on something, please email : [email protected]
1. What is staking?
Staking is the process of locking up a certain amount of your crypto holdings in order to earn interest or obtain rewards. To put it simply, you can think of staking like a time/fixed deposit for your crypto.
2. What do I need to be able to stake KOM?
You will need to have the following:
- 1.An MRC-20/Polygon compatible wallet such as Metamask, Trust Wallet or Token Pocket.
- 2.Some $KOM (Kommunitas tokens). You can buy some here if you don't have any.
- 3.Some $MATIC (MRC-20) tokens for gas fees. If you don’t have any Matic in your wallet, you can go to matic faucet, it will provide you with 0.0005 $MATIC which is enough for around 1-2 transactions.
3. How to stake KOM to earn interest?
- 1.Visit staking.kommunitas.net from your wallet browser
- 2.Click Enter and Connect Wallet.
- 3.Choose from 1 of 3 durations for staking (30/60/90 days).
- 4.Enter the amount of KOM you wish to stake and click “stake”
4. When can I unstake my KOM tokens?
Our staking is locked staking which means you are suggested to lock your KOM based on duration that you are comfortable with (30/60/90 days) and only claim it after the maturity date. If you decide to “unstake” your KOM before the maturity date, a penalty will be incurred—20% at the time of writing. You can find more details of your stake by clicking “My Stats” in the staking page, you will find the maturity date of your stakes as well as the interest / penalty incurred by each.
5. What happened to the penalty fees?
The penalty fees incurred on premature withdrawal do not go into the Dev wallet, instead they’ll be burnt and kept out of circulation forever!
6. In the website, it states we’ll get a KOMV token when we stake more than 3,000 KOM, is that true?
Yes, if you stake more than 3,000 KOM, you are entitled to a KOM-Voting (KOMV) token. This KOMV (read as Comfee) token will be used for voting or governance functions within our platform. However, do note that this KOMV token cannot be sold or traded.
KOMV token address : 0xE1bB02b367173ac31077a8c443802f75CC9aCCb6
Name: KOMV.
Decimal: 0.
7. If per say, I stake 1,000 KOM and then stake another 2,000 kom after a while. Will I still be eligible for a KOMV governance token?
Yes, of course you’ll still be eligible for a KOMV Token. As long as you have at least 3,000 $KOM staked in total.
8. What happens when my first stake of KOM reaches the maturity date?
If you unstake on 1 August you will get your capital of 1,000 KOM plus the rewards, and you need to go If you unstake on your maturity date, you’ll be able to receive your principal plus the interest acquired. You’ll just have to head on our platform and click “claim”. If you’ve forgotten to claim your stake, you can still come back and claim it at any time, the amount won’t change but you won’t be able to earn any additional rewards on that stake.
9. What happens to my KOMV token if I unstake some KOM and don’t stake it back, leaving me with less than 3,000 KOM staked?
In that case, the KOMV token will be burnt forever and you will not be eligible to participate in voting / governance on our platform. Of course if you choose to stake more KOM in the future and have more than 3,000 KOM staked, you’ll receive a KOMV token again.
10. Can I view my interest acquired per day / per block for my KOM stake? Or will I only be able to view the total interest at the end of my stake?
The interest/rewards will only be shown as a fixed amount of KOM which you will receive when your stake reaches its maturity date. You can do the calculations on interest per day yourself if you really want to. Just use total Interest / Staking Duration.
11. Can I have multiple stakes at the same time?
Yes, you can have multiple stakes running at the same time so feel free to stake more KOM when you want. Your allocation for any token sales will also be calculate using the total amount of KOM you stake across all your stakes. However, the “Next Unlock Reward” shown is only for the stake closest to maturity date. You can click on “My stats” in the staking portal to view the details of your other stakes.
Last modified 20d ago
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Contents
1. What is staking?
2. What do I need to be able to stake KOM?
3. How to stake KOM to earn interest?
4. When can I unstake my KOM tokens?
5. What happened to the penalty fees?
6. In the website, it states we’ll get a KOMV token when we stake more than 3,000 KOM, is that true?
7. If per say, I stake 1,000 KOM and then stake another 2,000 kom after a while. Will I still be eligible for a KOMV governance token?
8. What happens when my first stake of KOM reaches the maturity date?
9. What happens to my KOMV token if I unstake some KOM and don’t stake it back, leaving me with less than 3,000 KOM staked?
10. Can I view my interest acquired per day / per block for my KOM stake? Or will I only be able to view the total interest at the end of my stake?
11. Can I have multiple stakes at the same time?