Staking Bonus Phase 1 – Full Details

The first of the staking bonus windows will open at 0000 UTC on Friday 8th March.

During this staking window, we will be distributing 50% of the remaining airdrop fund to stakers. At the the time of writing, the remaining airdrop fund is 730,816 HMS, meaning that a minimum of 365,408 HMS tokens will be distribution as part of this initiative. We will announce exactly how many tokens will be sent in this phase on Friday.

The core team still hold a small number of airdrop tokens in reserve to ensure that the chain can be restarted if there is an issue with staking participant count. Every single one of these tokens will be sent to the airdrop fund and distributed to the community in the second and final staking bonus phase.

The goal of this staking bonus window is to reward anybody who is staking an online staking wallet with a full copy of the blockchain. By rewarding people who operate an online staking wallet, we aim to achieve three things.

  • Increase the number of active online staking inputs to ensure that the blockchain continues to operate smoothly with no sticky blocks.
  • Increase the number of full nodes online, to improve decentralisation and increase levels of community control.
  • To increase the number of tokens held by our community, to ensure that no group or individual possess enough tokens to manipulate our blockchain.

Eligibility & Required Actions

Participation is simple and there are no special required actions. All you have to do is stake with an online wallet.

For every stake you receive, you will receive a bonus payment. For example, if you gain three stakes in a day that are worth 16 HMS, you will be credited with an extra 16 HMS.

Our staking bonus system will run at midnight each day, scan the blockchain for received stakes during the previous 24 hours, and then distribute the bonus tokens.

How long will the bonus phase last?

Until the fund is depleted. Approximately 7,700 new HMS are minted each day which means that if the fund for this phase is 365,408, it will take approximately 48 days for all bonus tokens to be earned and distributed.

What about the founders and early supporters? Won’t they hog all the rewards?

All founders and early supporters have agreed not to stake during the bonus phases to ensure that all rewards go to the community. We recently published a list of addresses owned by early supporters to ensure full transparency and community oversight.

One of the goals of the airdrop and the bonus phases is to make sure that the community own enough tokens so that they hold more power than the founders and early supporters. Decentralisation and community ownership is of crucial importance to this project.

Ensuring that the community have incentives to participate and support the blockchain is part of our strategy to ensure true decentralisation and community control.

Whats next?

After this bonus phase has finished, we will be announcing a more generous initiative to reward our most loyal stakers and also a few other surprises.

Thank you as always for your generous support. This project is nothing without you.

Dan / Stonehedge

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