Espresso has launched its PoS transition plan, with staking tables expected to take effect and staking rewards to begin accumulating on March 4.
Foresight News reports that the Espresso Foundation began its transition to a permissionless and decentralized base layer on February 27. The upgrade will be carried out in three epochs, and the staking table is expected to take effect on March 4, with staking rewards starting to accumulate.
Users can delegate ESP for staking through the Espresso staking dashboard, and the top 100 validators will receive rewards based on their staked amount. It takes approximately 7 days to complete undelegation. Airdrop users who stake can also unlock Boosted reward bonuses (the airdropped amount must be staked within 14 days of claiming). Boosted rewards will be unlocked in three milestones based on staking duration: after 3 months (staking rewards increase by 256% from token launch), after 1 year (staking rewards increase by 359% from the 3-month milestone), and after 2 years (staking rewards increase by 420% from the 1-year milestone). If a user unstakes more than 50% of their tokens before reaching a milestone, they will lose eligibility for the bonus rewards for that period.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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