Staking is a process where GameStation holders can earn rewards for holding GameStation coins. The staking protocol has now been updated, and as a result, new rewards have been added. In order to qualify for the new rewards, holders will need to stake their coins using the new protocol.
This means that all holders who wish to take advantage of the new rewards will need to switch to the new staking protocol. Please note that this is an update only and does not affect your current holdings or staking eligibility. All your current holdings and staking eligibility are still valid. Thank you for your continued support!
What is Staking?
There are a few new staking protocols now live on the Dear GameStation Community forum. These protocols allow for more secure and efficient staking of DGC tokens. The first protocol, called “proof-of-stake-2,” allows for stakes to earn rewards based on their share of the total DGC token supply. The second protocol, called “proof-of-stake-3,” is a modified version of proof-of-stake that allows for faster transaction processing times and greater security. Both protocols are currently live and available for testing on the Dear GameStation Community forum.
Types of Stakes
When it comes to cryptocurrency staking, there are a few different types of stakes that can be earned. These different types of stakes will give holders a different amount of reward for their investment.
There are two primary types of staking: rewards and reserves. Rewards staking allows holders to earn rewards based on the number of coins held in their account. This type of stake is the most common, as it gives investors an immediate return on their investment. Reserves, on the other hand, allow holders to earn rewards over time by holding onto their coins. This type of stake is more passive, as investors don’t receive any immediate returns but can instead expect to receive a larger reward at a later date.
Another option for cryptocurrency holders is master nodes. Masternodes offer unique benefits not found in other stakes such as voting rights and shared transaction processing fees. They also have the potential to provide a high return on investment due to their low maintenance requirements and a large share of block rewards.
How to Claim Your Stakes
If you have staked and not received your rewards, please follow these instructions to claim your stakes:
- Log into your GameStation account.
- Go to the “My Account” tab and select “Stakes”.
- Select the stake you would like to claim.
- On the Claim Stake page, click on the “Claim My Stake” button next to the stake you want to claim.
- You will be taken to a confirmation page where you will need to provide proof of ownership of the stake(s) you are claiming. The following documentation is acceptable: · Copy of private key for wallet address associated with the stake(s) you are claiming · Email receipt from GameStation confirming that you have staked those tokens · Photo or video evidence of owning the stake at the time it was staked (for example, a screenshot of your GameStation profile showing that you owned those tokens at that moment)
How to Redeem Your Stakes
If you participated in the recent staking protocol update, congratulations! You now have a chance to redeem your stakes. Here are the steps:
- Go to the My Account page and select Redeem Stakes.
- Enter your wallet ID and password.
- Click on Proceed.
- Verify your identity by clicking on I am genuine! below your username.
- Confirm your redemption request by clicking on Submit Request.
- Your rewards will be sent to the address that you provided when registering for GameStation!
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Conclusion
We have just released a new staking protocol which will allow for much faster verification of blocks on the network. This new staking protocol is live now and we recommend all miners to update their clients as soon as possible. Thanks for your patience while we worked on this – it was important that we got it right!
