Stake Crescent Tokens
What is staking ?
Staking is the process your wallet uses to validate transactions and award you with tokens. When your wallet is staking, it is checking transactions to make sure everyone who sends tokens actually owned those tokens and had the right to transfer them. If most of the wallets online agree that a transaction is valid, then it gets CSN accepted by the network.
What happens when I successfully stake ?
Every time you successfully stake CSN tokens, you get a token reward based upon a percentage of the weighted age of that group of tokens.
Minimum Stake Age: 3 Days
Maximum Stake Age: 90 Days
How to Stake CSN Tokens (After 3 days)
The most important part of the Crescent Token is its ability to mine itself. You will be rewarded based on how long you hold Crescent Tokens and how many Crescent Tokens you have. This methodology is called proof-of-stake because you are staking Crescent Tokens by just holding on to them and then getting rewarded for that.
There are a couple of important rules you must follow before mining Crescent Tokens.
Crescent Tokens do not mine on their own. You must follow the procedure stated in step 2.
You must hold Crescent Tokens a minimum of 3 daysbefore you can mine them.
To save GAS you can wait to mine Crescent Tokens for up to 90 days. Anything after 90 days will produce the same results as if you mined on the 90th day of holding Crescent Tokens.
You can continue to mine every 3 to 90 days until the Crescent Token has reached its maximum total supply of 10 million.
You will need to spend a small amount of Ether on GAS every time you want to Mine Crescent Tokens. This will be approximately 20 – 80 cents in Ether.
- If you transfer CSN Tokens from your staking wallet without first mining you will lose those potential mining profits.
Please mine your CSN tokens before doing any outbound CSN Token transfers.
Step 1. – Top-up your Wallet with Ether.
Make sure that your wallet which holds the Crescent Tokens has some Ether in it. Grab your address (the same one you sent CSN tokens to) and send a small amount of Ether to it.
Step 2. – Mine Crescent Tokens.
Now that your account has some Ether in it and it has been at least 3 days of holding the Crescent Tokens, you are ready to start mining. To mine, send any amount of Crescent Tokens to yourself. Sending tokens is accomplished by copying your address and pasting in the “To Address” field.
Click the “Add Custom Token” button.
Enter Contract Address: 0x6576963107077cce5ec879978c03ec6bb300cc89
Token Symbol: CSN
Select CSN from the dropdown
Put any amount (less than your CSN token balance) in the “Amount to Send”
[ex: 0.0001] and click “Generate Transaction” and then click “Send Transaction”.
After re-loading your Ethereum wallet, you will be able to see the staked tokens added to your token balance.
Congratulations! You have successfully mined some Crescent Tokens. Here are the returns you should expect to receive.
Minimum Coin Age: 3 Days
Maximum Coin Age: 90 Days
Proof-of-stake Annual Interest (From February 2018)