What is T Staking?
The T token functions as a utility token for the Threshold network and a governance token for the Threshold DAO. Threshold is the product of a merger between NuCypher and The Keep Network, and allows smart contracts to access and manage private encrypted data. Its nodes can jointly decrypt data or transfer access to another party and act in response to smart contract calls, so the Threshold Network is a bridge between private data and public blockchains. Staking in the Threshold network ensures that Threshold nodes act honestly within the network.
How do I earn Threshold staking rewards on CoinList?
To stake T on CoinList, deposit T into your T staking account. Deposits can be made any time, though rewards will vary depending on when your T is staked and may begin to earn rewards approximately 24 hours after the rewards period starts. Withdrawal requests are processed at the end of the staking period and will be available in your wallet after it is unbonded from the protocol. Your funds will remain locked in the staking account until your withdrawal request is completed. Users will not receive their staked tokens and earned rewards until the conclusion of the Staking Interval.
To stake your NU assets, you will need to first convert your NU to T and then stake via the workflow outlined above. To convert your NU to T, select Conversions from within the navigation panel. Then select NU → T.
How much are Threshold staking rewards if I stake before May 30th?
The T network currently offers up to a 15.3% annual rate of return for users that have T deposited into their CoinList wallets and stake before May 30th. Please note that this return is not guaranteed and is subject to change. The estimated reward rate takes into account CoinList's fee. Please note that if you choose to stake your tokens during the Staking Interval, your tokens will continue to be staked until the launch of Threshold’s full suite of applications, which is estimated to go live on July 15, 2022. You can learn more about this program here.
How much are Threshold staking rewards if I stake after May 30th?
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.
What fees are charged for this staking service?
A 15% fee will be taken from your earned staking rewards, as calculated at the time in which you choose to unstake your T tokens from the Threshold Network. Your staked principal will not be affected by the fee.
Visit our fees page for more information.
Do I have to buy Threshold on CoinList to earn staking rewards?
No. Users who have procured their T through other means or trading venues are able to deposit their T into their CoinList Wallet and will be enrolled in the staking rewards program once they elect to stake. Additionally, holders of NU may convert their NU tokens to T on Coinlist’s platform to stake.
Who is eligible to earn T staking rewards on CoinList?
Anyone who is able to open a CoinList Wallet and deposit T into their account is eligible for T staking rewards on CoinList. If you participated in the NU token sale on CoinList and have converted your NU tokens to T, you are eligible to earn staking rewards for your tokens. CoinList Wallets are not available in all jurisdictions, please visit this page to see our list of approved jurisdictions.
What do users earn by staking Threshold?
Users who stake T will earn additional T tokens.
When will I receive my T staking rewards?
Your staked tokens and earned rewards will remain locked in your T staking account until you withdraw them following the expiration of the Staking Interval. If you wish to withdraw your staked tokens, your request will be processed at the end of the applicable staking period, and your funds will then be distributed to your CoinList account after they are unbonded from the protocol.
Will my staking rewards be automatically re-staked? Are T rewards compounding?
Your T staking rewards are automatically re-staked and will earn additional rewards until you choose to withdraw your T tokens. Rewards will vary depending on the staking period in which you are participating.
Who is the T staking provider for CoinList?
Currently, T tokens held in CoinList Wallets are delegated to P2P.
Can I choose who my T tokens are delegated to?
CoinList does not include the functionality to choose the staking provider to which your tokens are delegated (T tokens are automatically delegated to P2P). In order to choose a specific staking provider to which to delegate your tokens, you will need to transfer your T tokens to a wallet that you control yourself where you can then stake your T tokens. You can stake T tokens from a wallet that you control here.
Please note that users do not need to stake to the Threshold Network through CoinList to earn rewards, and users who stake directly through the Threshold Network may earn a higher reward rate.
How do I opt-out of T staking rewards?
You may choose to opt out of T staking at any time by submitting a withdrawal request. The request will be processed at the end of the Staking Interval or applicable staking period.
Can I still stake my NU tokens?
While you can’t stake your NU tokens on CoinList directly, you can convert your NU to T by visiting coinlist.co/conversions, then select NU → T. CoinList does not charge a fee for converting NU to T. Once your T tokens are available in your CoinList wallet, you can follow the steps above to stake your tokens
[For NuCypher Users Only] Will my locked NU tokens be eligible to receive staking rewards?
Yes, if you hold locked NU tokens on CoinList, your tokens will be automatically staked and will begin to earn rewards. CoinList will stake your NU tokens on your behalf, and you do not need to take any action to begin earning rewards. Users will exclusively earn T as a reward when staking NU.