What is AXL staking?
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Axelar is a proof-of-stake network that securely connects all blockchain ecosystems, applications, assets, and users to deliver Web3 interoperability. The AXL token is the utility token for the network, which supports security, decentralization, and ecosystem growth.
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Axelar network security is based on delegated proof-of-stake. Axelar built permissionless technology that enables a path toward decentralization. AXL staking supports decentralization while allowing validators, and users who want to act as validators, to earn rewards.
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​How do I earn AXL staking rewards on CoinList?
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There are two ways to earn rewards while staking AXL on CoinList: vault staking and auto-staking.
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​Vault Staking
To vault stake AXL on CoinList, deposit AXL into your CoinList Wallet and elect to stake them. Deposits can be made at any time and will begin to earn rewards approximately 24 hours (not guaranteed) after the beginning of the next rewards period. Withdrawal requests are processed at the end of the rewards period and the funds will be available in your CoinList Wallet after they are unbonded from the protocol. Your funds will remain locked in the staking account until your withdrawal request is completed.
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​Auto-Staking
Auto-staking is only offered to users who have their AXL locked on the platform. These users either took part in the AXL token sale or were early investors.
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​Is my locked AXL auto-staked?
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Yes. CoinList stakes your locked AXL with rewards distributed at the beginning of the month.
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​How much are AXL staking rewards?
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You can find the most current staking reward amount on the Staking page (https://coinlist.co/staking) of your account. Please note that CoinList does not guarantee any reward will accrue, and the amount of the reward is subject to change at any time. The estimated reward takes into account CoinList's fee.
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​What fees are charged for this staking service?
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A 15% fee will be taken from your earned staking rewards. Your staked principal will not be affected by the fee.
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Visit our fees page for more information.
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​Do I have to buy AXL on CoinList to earn staking rewards?
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No. Users who have purchased AXL from other exchanges can deposit AXL into a CoinList Wallet and automatically enroll in the staking rewards program.
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​Who is eligible to earn AXL staking rewards on CoinList?
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AXL staking is available in jurisdictions where AXL is available for trading. Please visit this page to see our list of approved jurisdictions.
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​What are AXL staking rewards paid out in?
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AXL rewards are paid out in the native version of the AXL token. When staking AXL tokens, you will continue to accrue AXL.
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​When will I receive my AXL staking rewards?
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Your funds and rewards will remain locked in your CoinList Wallet until you unstake them. If you wish to withdraw staked tokens, your request will be processed at the end of the staking period. Tokens will be accessible in your CoinList Wallet after they are unbonded (unstaked) from the protocol (7-14 days).
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​Will my rewards be automatically re-staked? Are AXL rewards compounding?
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Yes, your AXL staking rewards are automatically re-staked and will earn additional rewards until you choose to unstake and/or withdraw them.
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​Who are the AXL staking providers for CoinList?
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Currently, AXL tokens held in CoinList Wallets are delegated to nodes operated by Everstake.
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​Can I choose the nodes my AXL tokens are delegated to?
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CoinList does not include the functionality to choose the staking provider to which your tokens are delegated (i.e. they are automatically delegated to one of the providers listed above).
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​How do I opt-out of AXL staking rewards?
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You may choose to opt-out of AXL staking at any time by submitting a withdrawal request. You may do so by going to the coinlist.co/staking page, selecting AXL, and clicking on “withdraw”. The request will be processed at the end of the current staking period.
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​Can I stake WAXL tokens?
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No. Staking is only possible with the native AXL token. CoinList will convert any WAXL tokens to AXL tokens before staking them. After staking tokens, your rewards and principal will be available in your CoinList Wallet as native AXL. If you wish to convert the wrapped WAXL token back to the native AXL token, you can do so by going to coinlist.co/conversions, and selecting AXL → WAXL.
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Note: We are currently unable to support staking deposits for the AXL and WAXL tokens in the same transaction. If you wish to stake your AXL and WAXL, you will need to submit a separate deposit request for each asset respectively.
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