FAQs for Staking your Ilus Coins
What is Staking?
Staking is the process of actively participating in transaction validations on the blockchain. Anyone owning Ilus coins can stake them on our website and earn rewards. Staking your Ilus tokens means you lock your tokens for a while to earn rewards. You can earn up to 15% APY. You can unstake at any point without any fees, but you will lose your rewards. Your staked Ilus Coins will be used to gain the consensus needed to maintain the network security while validating transactions on the network.
2. How do I stake my Ilus Coins?
When you buy ILUS coins, you will be given the choice to stake tokens in your crypto-wallet. Head to https://www.ilus-coin.com/account and connect your wallet (Ilus coin supports MetaMask, Coin Base, and TrustWallet). The staking platform will automatically open and prompt you to enter the amount you wish to stake. You simply indicate the amount you wish to stake and the coins will get locked within the wallet for a minimum period of 30 days. For the first year, the user can earn 15% on their coin holdings per year. There will be a nominal BSC gas fee that you will have to pay the network using BNB.
3. How long do I have to stake my Ilus coins for?
You need to stake your Ilus Coins for a minimum period of 30 days to earn 15% APY. After the 30-day period, your holdings will continue to earn staking rewards after the initial 30-day period and will be calculated pro-rata until you withdraw the holdings.
4. What if I wish to take out my coins before the 30-day period?
The platform allows you to withdraw your tokens at any time, but you forfeit your rewards if withdrawing before completing the 30-day period.
5. How many Ilus coins do I need to stake?
We do not have a minimum of Ilus Coins to be staked.
6. Do I need BnB to stake my coins?
You don’t need BnB to stake your Ilus Coins, but you do need BnB to pay the BSC gas fees.