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:
A EVM-compatible , non custodial wallet such as Metamask, SafePal, OKX Wallet.
Some $KOM (Kommunitas tokens). You can buy some here if you don't have any.
Some $MATIC (in Polygon Network) or $ETH (in Arbitrum Network) tokens for gas fees. If you don’t have any MATIC or ETH in your wallet, you can buy MATIC or from any exchange and withdraw it via Polygon or Arbitrum Network.
3. How to stake KOM to earn interest?
Visit staking.kommunitas.net from your wallet browser
Click Enter Staking V3 and Connect Wallet.
Choose 1 out of 6 durations for staking (30/60/90/180/365/730 days).
Enter the amount of KOM you wish to stake and click “approve”. Approving a transaction simply means that you are authorizing the smart contract to spend / transfer your KOM token from your wallet.
After a successful approve transaction, you might need to enter the amount of KOM once again, choose the durations, then only hit the stake button. Make sure you read the staking preview to understand your staking details, its maturity period and compound method.
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 (30/60/90/180/365/730 days). A premature withdrawal penalty of 50% applies to all options. NB : If you wish to unstake by the end of your staking period, make sure you choose "No Compound" method.
You can find more details of your stake in the “My Ongoing Staking Details” 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 is used to cast a Vote in every Public Sale and indicates that you are interested in joining the Sale. However, do note that this KOMV token cannot be sold or traded. KOMV token address : 0xE1bB02b367173ac31077a8c443802f75CC9aCCb6 Name: KOMV. Decimal: 0.
7. If lets 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 have chosen the compound method of : "Compound My Staked KOM Only" or "Compound The Amount and Interest", the system will automatically perform the next staking on behalf of you. You don't have to do anything. But if you wish to unstake at your next maturity date, make sure you change the compound method to : "No Compound" which is available in My Ongoing Staking Details section.
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, or go to our website and go to Calculate your $KOMvestment section.
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.
You can go to “My Ongoing Staking Details” in the staking portal to view the details of your other stakes. You can see your Total Staking Amount, Period and Action (if you want to change the Compounding Mode)
12. What is Compound Mode?
Firstly, users will now be able to choose if they want to automatically have their tokens and rewards re-staked and compounded at the end of their staking period.
There are three options which investors can choose when staking their tokens:
“No Compound” option: Allows users to stake their $KOM tokens for a chosen period of time, and automatically receive their initial staked amount plus any rewards at the end of the period, without needing to manually unstake. Users also have the option to withdraw prematurely and burn some of their initial staked amount.
“Compound My Staked $KOM only” option: Allows users to automatically re-stake their initial staked amount at the end of the chosen period, while still receiving any rewards in their wallet until the user chooses the “no compound option”.
“Compound The Amount + Rewards” option: Automatically re-stakes the total amount of the initial staked amount and rewards at the end of the chosen period, until the user chooses the “no compound” option.
How to Stake KOM on Kommunitas Staking V3
13. Which chain can I stake KOM?
You can stake your KOM on the Polygon Chain and Arbitrum Chain
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