Staking FAQ

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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 a process of locking up a certain amount of your crypto holding in order to earn interest or obtain rewards. To simplify the understanding of staking, you can think of staking like depositing cash into a savings account. 
2. What do I need to be able to stake KOM?
You will need to have
1. A MRC-20/Polygon compatible wallet like Metamask, Trust Wallet, Token Pocket.
2. Some $KOM or Kommunitas tokens. Buy Here if you don't have.
3. Some $MATIC (MRC-20) tokens for gas fees. If you have 0 matic in your wallet, you can go to matic faucet , and it will provide you with 0.0005 $MATIC which is enough for 1-2 transactions. 
3. How to stake KOM to earn interest?
1. Visit staking.kommunitas.net from your google chrome or metamask browser
2. Click Enter and Connect Wallet.
3. Choose duration for staking, 30/60/90 days. Please understand that this is a locked staking. Meaning that you can not withdraw before the maturity date, or you will be charged for 5% penalty fees (in KOM).
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 that you are suggested to locked your KOM based on duration that you choose when you staked (30/60/90 days) or if you decide to “unstake” your KOM before the maturity date you will be charged a 5% penalty fees which will be deducted from the amount of KOM you staked.
example : you stake 10,000 $KOM for 30days, but you unstake your 10,000 $KOM at the 15th day, then you will only get 9,500 $KOM.
5. What happened to the 5% penalty fees?
The penalty fees will not go to the dev wallet, instead it will be burnt forever!
6. In the website, it is written that we can get a KOMV token for staking of more than 3,000 KOM?
Yes, if you stake more than 3,000 KOM, you are entitled for a KOM-Voting (KOMV) token. This KOMV(read : Comfee) token will then be used for voting or governance functions of Kommunitas. But this KOMV token can not be sold / traded.
KOMV token address : 0x56190005fd8740f8e2d3b805edc14e007045725b
Name: KOMV.
Decimal: 0.
7. So, if let's say, I stake 1,000 KOM on 1st July and then I stake another 2,000 kom on 15th July. Will I still be eligible for a KOMV governance token?
Yes, of course you are eligible for the KOMV Token, by the way KOMV will be minted on 15th July.
8. What happens on 1st August when my first staking of 1,000 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 to our platform and claim.
If you forget and come after 1 August, let’s say, 15 August, then no worries, your capital and your rewards is still claimable, but the rewards will not increase.
9. After I claim / unstake all the 1,000 KOM and my rewards, meaning that the total stake of mine is now only 2,000 KOM (it goes below 3,000 KOM), what will happen to my KOMV token?
Then the KOMV token will be burnt forever and you are not eligible to participate in the voting / governance.
10. Can I , as a user, check on my accrual earning per day / per block? or I can only see it at the end of the 30days?
The interest/rewards can be seen as fixed rewards that you would get in future when it reaches the maturity date.
11. Can I stake for multiple times?
Yes, you can stake for multiple times, but the rewards shown is the next / closest rewards that you are going to get. We are working to show all details about your staking. Please wait for our official announcement.

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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 5% penalty fees?

6. In the website, it is written that we can get a KOMV token for staking of more than 3,000 KOM?

7. So, if let's say, I stake 1,000 KOM on 1st July and then I stake another 2,000 kom on 15th July. Will I still be eligible for a KOMV governance token?

8. What happens on 1st August when my first staking of 1,000 KOM reaches the maturity date?

9. After I claim / unstake all the 1,000 KOM and my rewards, meaning that the total stake of mine is now only 2,000 KOM (it goes below 3,000 KOM), what will happen to my KOMV token?

10. Can I , as a user, check on my accrual earning per day / per block? or I can only see it at the end of the 30days?

11. Can I stake for multiple times?