1. What is MINA staking?
The native utility token for the Mina blockchain is called MINA. Mina employs a Proof-of-Stake consensus mechanism in place of miners and a Proof-of-Work (PoW) consensus mechanism to confirm transactions and uphold the security of the Mina blockchain. This indicates that users of the network can bet a specific amount of MINA to earn prizes for truthfully verifying transactions on Mina. Additionally, MINA holders have the option to vote for these validators by locking their tokens.
Voting for trustworthy and active validators on the network rewards MINA holders who lock and vote their tokens with extra MINA. Users that deposit MINA into their CoinList wallet can passively get more MINA because CoinList administers the locking and voting for those users.
2. How do I earn MINA staking rewards on CoinList?
By holding MINA in your CoinList Wallet after making a deposit or buying it, you can be eligible to collect staking incentives. You automatically opt into staking rewards once you deposit MINA into your CoinList Wallet. You don’t need to do anything in order to take part. Please be aware that MINA kept on CoinList Pro do not receive incentives for staking.
3. How much are MINA staking rewards?
Users who have MINA placed into their CoinList wallets are now expected to receive rewards from the MINA network at a rate of 16%. Please be aware that this return is not promised and could change. The anticipated reward accounts for CoinList’s fee as well as the proportion of deposited tokens that are still unstaked for liquidity needs.
4. What fees are charged for this staking service?
You will have your earned staking rewards deducted by a 15% charge. There will be no impact on your staked principal from the fee.
5. Do I have to buy my MINA on CoinList to earn staking
No. Users can deposit their MINA into their CoinList Wallet and will immediately be signed up for the staking rewards programme even if they acquired their MINA through other channels or trading platforms.
6. Who is eligible to earn MINA staking rewards on CoinList?
MINA staking incentives on CoinList are available to everyone who can open a wallet and add MINA to their account. Please visit this page to check our list of permitted jurisdictions since CoinList Wallets are not available in all of them. Not accessible to US and Canadian citizens and residents.
7. What are MINA staking rewards paid out in?
Rewards for MINA staking on CoinList are given out in MINA. This implies that by keeping your MINA in your CoinList wallet, you will earn more MINA.
8. When will I receive my MINA staking rewards?
Users will receive incentives from CoinList once each month based on their average holdings for the previous month. Once your rewards have been distributed to your CoinList wallet, we’ll send you an email to let you know.
9. Will my staking rewards be automatically re-staked? Are MINA rewards compounding?
Yes, unless you withdraw or trade them, your MINA staking rewards are automatically reinvested and earning new rewards. Daily compounding MINA awards, but only monthly distribution
10. Who is the MINA staking provider for CoinList?
Figment, a reputable staking provider, is now assigned to stake MINA tokens that are stored in CoinList Wallets.
11. Can I choose who my MINA tokens are delegated to?
You cannot select who receives your token delegation through CoinList (i.e. they are automatically delegated to Figment). You must move your MINA tokens to a wallet under your direct control if you want to decide to whom they are assigned.
12. How do I opt-out of MINA staking rewards?
Holding MINA in your CoinList Wallet entitles you to staking rewards automatically. If you want more alternatives, go to the Staking page, choose MINA, and then select “…” if you don’t want to receive MINA staking benefits. Turn off “Auto stake assets.” Please be aware that your earned staking rewards will be distributed at the end of the month together with the usual staking reward distributions if you choose not to stake. Your earned staking rewards won’t be given to you beforehand.
For Mina Token Sale participants only:
13. Have I been earning block rewards since the sale date?
Yes. Since the sale, the MINA tokens you bought have started generating staking rewards. On May 31, when your tokens unlock, these accumulated incentives will be transferred into your CoinList Wallets.
14. How do I earn “Supercharged Rewards”?
The MINA tokens you bought on CoinList have “Supercharged Rewards” enabled by default. These incentives are automatically activated and require no action from you. Supercharged Incentives are part of the staking rewards you will receive on May 31 (and every month after that for the first 15 months following the launch of the mainnet). You can read more about Supercharged Rewards here.