IOTA Staking for Assembly Continues

Keep Them Coming!

TL;DR:
IOTA staking for the Assembly network (ASMB tokens) continues at 3:00 pm CEST on Tuesday, the 19th of April, with a three-day pre-staking period. Token holders can then begin their staking period to receive staking rewards starting from the 22nd of April for 90 days onwards. A new version of Firefly will be released on Tuesday.

After a successful initial 90-day staking period, a total of 5,805,198,310 Assembly tokens have been distributed to participants. This past event marked the initial distribution of 5.8% of the entire supply of Assembly tokens. A total of 20% is allotted to IOTA stakers, which will be distributed over a total of 24 months. Staking continues next week, distributing tokens to all IOTA stakers for another 90 days. Further staking events will follow, until a total of 24 months has passed and the reserved 20% of all $ASMB tokens have been distributed.

To participate in the upcoming event, the 1.5.0 release (or newer) of Firefly needs to be used. It will be released on Tuesday the 19th of April, 2022, three days ahead of the start of staking distribution. With the upcoming Firefly release, every user will be able to see the total number of tokens distributed to them in the previous 90-day staking period, participate in this next staking event, as well as track their current rewards.

Users can begin pre-staking their IOTA tokens on Tuesday, the 19th of April, using at least Firefly 1.5.0. The distribution of rewards will start on the 22nd of April, at 3:00 pm CET and will run for a total of 90 days. Rewarded ASMB tokens will become transferable with the launch of the Assembly network. For each MIOTA staked, IOTA stakers will receive 0.000002 ASMB every 10 seconds (or two microASMB) for up to 90 days. Each staked wallet must reach a minimum amount of 1.0 ASMB (1,000,000 microASMB) during this period for the airdrop to be received. Rewards from previous distributions do not count towards this minimum.

Firefly wallet staking instructions

To begin staking, make sure that you have downloaded and installed at least version 1.5.0 of the Firefly wallet on the firefly.iota.org website, then complete the following steps:

First, log in to your profile by entering your PIN and continue to navigate to the staking tab.

Here you will either be able to “pre-stake” or “stake your tokens” (depending on in which staking phase you are accessing your wallet). The pre-staking phase is three days before staking rewards begin on the 22nd of April at 3:00 pm CET, giving users ample time to decide if they want to take part before staking starts. It also guarantees that users who want to stake IOTA tokens do not miss the beginning. Once the three days are over, you will begin to receive staking rewards in your wallet.

Each wallet of a user profile must be staked separately. When you mark IOTA tokens for staking, a transaction is sent to you with attached metadata to indicate that you wish to stake with the marked funds. Any funds staked in a given wallet will be sent to an address on the same wallet, requiring tokens in every wallet to be individually marked for staking.

To stake a wallet, simply hit the stake button. Please note that the application does not have to be open to receive the airdrops once you initiated staking.

Once you hit confirm, Firefly will issue the special staking transaction. Once this transaction has been confirmed, the user interface will update to show that you are now ready for staking!

The “pre-stake” phase lasts for three days. Once it has finished, you will start receiving your ASMB rewards in your wallet. You can see the total rewards per wallet by navigating to the staking tab in each wallet.

You can also begin staking at any point after the official start of the reward distribution. Your rewards will simply be less, as you won’t have participated for the full token distribution period.

Further important information

You can send your staked tokens from a staked wallet at any time. But if you do, you will need to manually re-stake any remaining tokens. Firefly will warn you if you try to send staked tokens. Due to dust protection, there is a minimum number of token rewards per address you must earn to receive the tokens when the networks launch. The minimum reward for Assembly is 1 ASMB for each staking period. Firefly will inform you if you haven’t yet reached the minimum reward value.

If you receive additional funds on a staked wallet you will need to manually stake those tokens. Firefly will warn you if you receive tokens on a wallet that is already being used for staking.

Happy staking!