Staking 2.0 Guide — Claim And Unstake Process

In this guide, we explain to you how to claim your monthly staking rewards and how to unstake.

Claim process

Important:

  1. The staking reward claim is a monthly process and is mandatory in order to receive the staking reward for the current staking cycle.
  2. Failing to claim it will result in the fact you will not receive your staking reward for the staking cycle the claim referred to. Your reward will be distributed equally between all the stakers from your group who claimed.
  3. If you do not claim for three consecutive months, you will be automatically unstaked.

How to claim

  • On the last week of the month, the claim option becomes available in your COTI Pay wallet. Go to the staking section and click “Claim your reward”
  • Once you claimed the reward, the claim button shows “Claimed” and all you have to do is wait for the staking reward distribution to be processed on the first day of the next staking cycle (generally the 1st day of the next month).
  • For the rest of the staking cycle, the claim option is not available. You can see a timer showing you when the claim option will be open.

Conditions to receiving your stake rewards:

  • The node you’re staking in should have at least 95% uptime. In the case your node doesn’t meet the minimum uptime, you will only be eligible for fees collected during your uptime but not for the guaranteed node return.
  • You must have a registered COTI Pay wallet.
  • You have completed the KYC process.
  • You must stake your coins for the entire payment cycle to be eligible for rewards.

Unstake process

How to unstake

  • A message stating that you will be unstaked in the next payment cycle appears. You can choose to cancel the unstake request or to confirm it.
  • Once you have unstaked, you can not stake again and you will have to send an email to staking@coti.io if you wish to stake again.

--

--

COTI is a DAG-based Layer 1, specifically designed for Enterprises. COTI’s Protocol is scalable, fast, private, inclusive, low cost and is optimized for finance

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
COTI

COTI is a DAG-based Layer 1, specifically designed for Enterprises. COTI’s Protocol is scalable, fast, private, inclusive, low cost and is optimized for finance