Start Staking
How to start staking your NXS
Send the staking coins to the trust account. (All unstaked NXS should remain in the default account).
NXS coins need to age 72 hrs in the trust account for staking to start. If any additional coins are sent between the 72 hour aging window, the timer will reset to the beginning.
After 72 hours the wallet attempts to find a block and depending upon the number of NXS in the account, a genesis transaction is initiated, which locks the stake amount in a trust account. Genesis is the start of your staking journey.
To increase the incentive from 0.5% to 3% (stake rate) the wallet must stake a block (mine a block) within 72 hours of the previous stake block. (Block weight = 100%).
Staking must occur continuously in order to increase the stake rate to 3%; This is attained after persistent staking for a year, and thereafter to maintain it.
The incentive earned is accrued in the trust account under “Available Balance” and will not be added to the stake. Accrued incentives can be withdrawn without penalties.
As the node is left unattended most of the time, please remain vigilant and verify activity at least every few days, this can be accomplished with a block explorer as well. Remember, if the node stops staking for whatever reasons the trust and stake rate will decay at a 3:1 ratio.
Last modified 1yr ago