1 2 4 6 Staking Plan
Q : What is Lition Pool Staking (LPS)?
All funds put into staking will be locked up at the protocol level until at least Phase 1 of the Eth2 rollout. This includes base staking funds and any earned rewards, whether you’ve exited or not. The Incremental Staking Plan This plan is very similar to the Fibonnaci Plan, however, instead of using the Fibonacci sequence, it is based on the numbers 1, 2, 3, 4, 5, 6 and 7. Your first bet starts at number 1, if this bet loses, you slide one step down to number 2, this continues until either you hit number 7, where you stay, or until you win. The Staking Machine or TSM for Short is a Professional Sports Betting Tool. It is a Cutting-Edge, Bet Tracking, Staking Plan and System Analysis Tool. Available for Windows Desktop as well as Browser Based Web App.
The Lition Foundation is running validator nodes on behalf of anyone that wants to participate in the network without going through the trouble of setting up and maintaining their own server.
The longer the lock-up period, the higher the rewards.
Q : What is the minimum amount required to stake?
5000 tokens
Q : How do I get started?
You’ll need to send your tokens to the LPS Smart contract through a dedicated web application at Staking.Lition.io
Please see our deposit tutorial
Q : How much will I earn?
Rewards are not fixed. They are dependent on the number of sidechain transactions, total number of users staking, and the lockup period chosen.
Tip: The best way to estimate current returns is to ask other members of the community who are actively staking: Official Lition Staking Channel
Q : What are my options for lock-up periods?
There are 4 lock-up options to choose from:
1 Month = 1.2 Reward Factor
3 Months = 1.4 Reward Factor
6 Months = 1.6 Reward Factor
12 Months = 1.8 Reward Factor
Q : What are reward factors?
Reward factors are multipliers that incentivizes loyal stakers that are strengthen Lition's sidechain ecosystem. Your stake receives its share of Lition multiplied by 1.2, 1.4, 1.6 or 1.8 in comparison to a normal node.
Q : What is the Genesis Phase?
The Genesis Phase is an initial period of incentivized adoption. During this time, the revenue flow from transactions are multiplied by a factor to increase incentives for Lition token holders to stake during the early stages of the project.
Q : How long will the Genesis Phase last?
TBD
Q : What does it mean to compound earned staking rewards?
If you elect to compound, your daily earned staking rewards are automatically reinvested back into your stake.
Q : How often are rewards paid?
Staking rewards are distributed roughly every 24 hours
Q : How do I view my daily rewards?
You’ll find earned rewards in the “Balances” section of the staking website under “Pending Rewards”. These rewards will move to “Rewards Accredited” once they are eligible to be withdrawn.
You can also view a history of accredited rewards under the “History” section.
Q : When can I withdraw my rewards?
Compounding False: At the end of each month.
Compounding True: At the end of your chosen lock-up period.
Q : What if I’m having trouble making a deposit?
Q : Is it necessary to use Metamask?
Yes, Lition Pool Staking should be used with Metamask only.
Q : Why can’t I see my Lition tokens in Metamask?
4.6mm
You’ll need to add Lition as a custom token: Instructions
Token Contract Address: 0x763Fa6806e1acf68130D2D0f0df754C93cC546B2
Token Symbol: LIT
Decimals: 18
Q : Can I stake with my Hardware Wallet?
You’ll need to use Metamask to interact with the LPS smart contract. However, you can sign your transactions in Metamask with a hardware wallet.
*Note: Ensure that “contract data” is enabled in the Ethereum app on the device.
Q : Which browser should I use?
We recommend Google Chrome.
Q : Can I end my lock-up period early?
No, it’s not possible to modify the smart contract. Please plan accordingly.
Q : What if I want to run my own validator node?
Our mainet is currently in beta and there are very limited spots and support available to operators. You should only interact with the sidechain as a validator if you are an experienced user and can troubleshoot issues on your own.
We are recommending that everyone use Lition Pool Staking until the mainnet is out of Beta.
If you'd like to learn more in the meantime, you can view the documentation to become a validator here
Q : What if I have additional questions?
For general questions: Community Channel (Telegram)
1 2 4 6 Staking Plane
For LPS related questions: Staking Channel (Telegram)
You can also reach out to us on Twitter
Other useful links:
What Is A Staking Plan
Website
Announcement Channel
Medium Blog
Token bridge
Whitepaper
Technical Paper