Dear Relictum Ecosystem community!

🚀 We are glad to announce the launch of a new product in the Relictum Node app — Staking GTN!

📆 The network technical update, including the staking update, is scheduled for March 25–26. This update will be accompanied by the release of corresponding Android, iPhone, MacOS, and Windows app updates.

What is Staking❓

🪶 In simple terms:

Using the Relictum Node app, you can stake your GTN tokens for a period from 1 to 3, 6, 9, 12 months and receive royalties in USDR, RBTC, RETH, and RLTC as a reward. In the future, royalties can be paid in any other tokens and stablecoins, if the blockchain network receives income in them.

In the cryptocurrency language, this term has two meanings.

1️⃣ According to the Proof-of-Stake consensus. In simple words, staking means locking cryptocurrency in order to get a reward.

2️⃣ DeFi staking. This is still the same classic staking, but DeFi staking differs from the usual one due to third parties getting involved in the process. For example, it can be legal entities or individuals who borrow coins from the owner at interest (get a loan).

This mechanism will have a double interpretation in Relictum Ecosystem: On the one hand, it will be used to control the distribution of rewards among all the GTN holders. On the other hand, it will be taken into account when calculating the rating of the nodes participating in the consensus when choosing a tsar for the next round during transactions.

❗️ IMPORTANT❗️

Attention!

Royalties will be accrued on April 1 only for those who have staked their GTN tokens.

📍Your staking reward will depend on two factors:

- quantity of GTN tokens sent

• period for which you sent the tokens for staking (this factor will take effect on May 1, 2022)

#relictum #staking #node #gtn #ecosystem