Re: 🚀 [ANN] ColossusCoinXT COLX - Coin Swap - Fair Launch, no ICO/ IPO! 🚀 Released
Not trying to spam the page.... will be my last post for awhile, just trying to wrap my head around this.
I have some stupid questions (again) I hope someone who is more knowledgeable can help me out here.
Q1 - Does the amount of colx I receive through staking depend on the amount of colx I have in my wallet?
Q2 - If that is the case, does the amount of colx I receive gradually increase over time? (Since the colx that gets sent to the wallet increases my staking supply?)
Thank you.
I have some stupid questions (again) I hope someone who is more knowledgeable can help me out here.
Q1 - Does the amount of colx I receive through staking depend on the amount of colx I have in my wallet?
Q2 - If that is the case, does the amount of colx I receive gradually increase over time? (Since the colx that gets sent to the wallet increases my staking supply?)
Thank you.
Q1. YES!
Q2. YES!!
It 'Compounds'... COLX is the very latest POS3.0 and, yes, the rewards generated are directly proportional to the amount staked. Unfortunately you won't receive that amount every day currently, as coins have to 'mature' for 7 days once they have received a reward. This is why it is advisable to split larger amounts into smaller transactions within your wallet.
i.e. if you have 100,000 COLX and you just put it in your wallet and stake it, when it receives it's first reward then ALL 100,000 COLX coins are out of action for 7 days until they mature again.
So, instead, if you split the 100,000 into 10 x 10,000 transactions, using the splitting tool built in to the wallet, then, when you receive a reward for a 10,000 block, that then sits out for 7 days, but you still have the 9 x 10,000 blocks in play, waiting to receive their next reward.
So, in this way, you can maximise your returns from staking...
How to do this is explained fully in the long staking user guide here - Click Here
The even more exciting news is that the Devs are currently working on upgrading the current PoS3.0 Protocol to reduce the maturity time down from the current 7 days to just 8 hours which really will be the icing on the COLX cake!
Good luck!
And enjoy a truly COLOSSUS 2018!