Edgeless staking: 1st cycle review & what’s next
The second period of the first cycle officially finished last week. The smart contract system has automatically checked Edgeless’ bankroll. The surplus was distributed to token holders who participated in bankroll staking.
Staking is one of the key features that makes the Edgeless project, and the entire EDG ecosystem, a really unique place to be. Staking not only creates more utility for the EDG token but it also helps to get people involved who are not necessarily active online-casino players.
The key numbers of the first Edgeless staking cycle:
- The cycle started on the 3rd of December;
- During 28 days 2,166,083 EDG tokens were staked;
- After 28 days, the Bankroll's surplus was 263K EDG;
- 119 participants joined the staking.
Edgeless’ goal is to improve the staking beta platform. To achieve this goal, the team will gather feedback from all of the first cycle participants. After gathering the feedback, the team will then prepare the conditions for the second cycle.
When will the second staking cycle begin
The second staking cycle will begin at 3:01 PM GMT on the 10th of February. More information and detailed terms and conditions will be announced on the 7th of February.
Who can stake
Everyone except US citizens can participate in Edgeless staking. Due to uncertainty in the US in regard to the regulation of tokens, this feature is not available to US citizens for now.
The bankroll staking model is created to factor in the latest legal developments in the crypto sector. Similar staking mechanisms are used by other crypto projects.
The Edgeless team follows all legal developments, and if needed, in the future there will be changes made to the principles of staking so that our activities will be in line with regulations.
The EDG token is a UTILITY token. It has no profit sharing, dividends or any other features associated with securities.