As of January 2021, 63 percent of the overall stock, or 6 billion dollars of DOTs, had been involved since the introduction of Polkadot'smainnet in May 2020.
FREMONT, CA: Moonstake, a blockchain company, recently announced support for Polkadot's cryptocurrency DOT, one of the top 10 market cap cryptocurrencies, in Moonstake's Online Wallet. After Universe, IRISnet, Ontology, Equilibrium, Tezos, Cardano, and Qtum were the 8th available coin on Moonstake Web Wallet.
Polkadot is a next-generation blockchain protocol that links many specialized blockchains to a single centralized network. Polkadot is the flagship project of the Web3 Foundation, the world's leading blockchain foundation established by the co-founder of Ethereum and former CTO Dr. Gavin Wood.Other core members of the Web3 Foundation are Dr. Aeron Buchanan, former Head of European Operations at Ethereum, and RetoTrinkler, co-founder of Melonport.
As of January 2021, 63 percent of the overall stock, or 6 billion dollars of DOTs, had been involved since the introduction of Polkadot'smainnet in May 2020. The price of DOT, Polkadot's native token, and the cross-chain data and asset interoperability protocol increased by more than 40 percent in December 2020 after two confidence votes by Binance, the biggest crypto exchange by spot trading volume, and listed seven cryptocurrencies by market cap. Here's a quick four-step method to play DOT on Moonstake Wallet:
1. Register the mobile wallet Moonstake (https://wallet.moonstake.io).
2. Add DOT to "Add New Asset."
3. Shift the DOT to the Moonstake Online wallet.
4. Click the "Stake Now" button (*One needs at least 1 DOT to start staking for the first time).
Why Dot Stake Works
One may pick several validators (up to 16 validators) at stake. Pick 1-16 validators and appoint them. If more than 256 nominators nominate the same validator, they will be "oversubscribed," and only the top 256 nominators (ranked by the stake) will be paying prizes.If one's stake is at 257 or higher, they will not earn staking receives.
How to Get the DOT Stake Rewards
The APY is 13.32 percent. One must manually assert the rewards using the feature on the sting page to earn the sting incentives. Stake prizes are only made available for 84 days. One needs to be aware that if they do not claim their rewards by this time, they will not claim them, and some of the rewards will be lost.
How Does DOT Work
One has to unstake when submitting a DOT during the drawing. However, for the next 28 days, it will be in the 'cancellation order' condition and will be closed. After the 28-day lock-up period has ended, one can withdraw the DOT. There are no sting incentives during the lock era.