What is MINA staking?

MINA is the native utility token for the Mina blockchain. Instead of using miners and a Proof-of-Work (PoW) consensus mechanism to verify transactions and maintain the integrity of the Mina blockchain, Mina uses a Proof-of-Stake consensus mechanism. This means that network participants are able to stake a certain amount of MINA for the right to honestly verify transactions on Mina and receive rewards for doing so. Additionally, MINA owners are able to lock their tokens and vote for these network participants, known as validators, for which they will receive additional MINA as a reward. CoinList manages the locking and voting for users who deposit MINA into their CoinList wallet so they can passively receive additional MINA.
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​How do I earn MINA staking rewards on CoinList?

When you deposit or purchase MINA on CoinList, you may be eligible to receive staking rewards by keeping MINA in your CoinList Wallet. Once you deposit MINA into your CoinList Wallet, you are automatically opted into staking rewards. There is no action on your end required to participate. Please note that MINA held on CoinList Pro do not earn staking rewards. Start earning here: https://coinlist.co/stake/mina.
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​Who is eligible to earn MINA staking rewards on CoinList?

Anyone who is able to open up a wallet on CoinList and deposit MINA into their account is eligible for MINA staking rewards on CoinList. CoinList Wallets are not available in all jurisdictions, please visit this page to see our list of approved jurisdictions. MINA staking is not available for citizens and residents of the US and Canada.
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​How much are MINA staking rewards?

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 along with the percentage of tokens deposited that remain unstaked for liquidity purposes.
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​What fees are charged for this staking service?

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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​When will I receive my MINA staking rewards?

Once per month, CoinList will distribute rewards to users pro-rata of their average holdings over the month. We will notify you via email once your rewards have been distributed into your CoinList wallet.
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​When will I be able to withdraw my MINA staking rewards?

Once your MINA staking rewards are distributed into your CoinList wallet, you will be able to withdraw and/or trade your MINA. Withdrawals are generally processed instantly.
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​Do I have to buy my MINA on CoinList to earn staking rewards?

No. Users who have procured their MINA from other means or trading venues are able to deposit the MINA into their CoinList Wallet and automatically be enrolled in the staking rewards program.
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​Will my staking rewards be automatically re-staked? Are MINA rewards compounding?

Yes, your MINA staking rewards are automatically re-staked and continue to earn rewards unless you withdraw or trade them. MINA rewards are compounding daily, but are only distributed once per month.
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​What are MINA staking rewards paid out in?

MINA staking rewards on CoinList are paid out in MINA. This means you will accrue additional MINA by keeping your MINA in your CoinList wallet.
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​Can I choose who my MINA tokens are delegated to?

CoinList does not include the functionality to choose to whom your tokens are delegated (i.e. they are automatically delegated to Finoa Consensus Services). In order to choose who your tokens are delegated to, you will need to transfer your MINA tokens to a wallet that you control yourself.
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​Who is the MINA staking provider for CoinList?

Currently, MINA tokens held in CoinList Wallets are delegated to Finoa Consensus Services, a professional staking service.
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​How do I opt-out of MINA staking rewards?

You will automatically receive staking rewards by holding MINA in your CoinList Wallet. If you would like to opt-out of MINA staking rewards, go to the Staking page > Select MINA > Select “…” for more options > Toggle “Auto stake assets” off.

Please note that if you opt out of staking, your earned staking rewards will be distributed at the end of the month along with the regular staking reward distributions. You will not receive your earned staking rewards early.