Introducing STX Stacking on CoinList
One of the requests we often receive from our community is to provide more ways to earn rewards on your crypto.
Today, we are excited to launch Stacking — staking for the Stacks (STX) Network — an open source network which enables users to build apps, smart contracts, and digital assets that are integrated with Bitcoin’s security, capital, and network.
Our relationship with the Stacks Ecosystem goes back to Blockstack PBC’s 2017 STX token sale, CoinList’s second ever token sale and the most successful token sale on the CoinList platform in 2017 based on user registration.
Today, we’re excited to continue our journey with them and to support STX Stacking as another feature in our staking product!
FAQ
1. What is stacking?
STX is the native token for the STX network, which aims to enable Defi, NFTs, apps, and smart contracts for Bitcoin. Stacking is analogous to staking for Stacks’ unique Proof-of-Transfer mechanism and adds security benefits to the network. A unique aspect of its consensus mechanism is that the network rewards Stackers with BTC rewards, not STX tokens.
2. How do I earn STX rewards on CoinList?
To stack STX on CoinList, deposit STX into your STX stacking account. Deposits can be made at any time and begin to earn rewards approximately 72 hours (not guaranteed) after the beginning of the elected rewards period. Withdrawal requests are processed at the end of the applicable rewards period and will be available in your wallet 1-2 days after your elected stacking cycle ends. Your principal will remain locked in the stacking account until your withdrawal request is completed, at which point it will be distributed along with your stacking rewards.
3. How much are STX stacking rewards?
The STX network currently offers up to a 7.7% annual rate of return for users that have STX deposited into their CoinList wallets. Please note that this return is not guaranteed and is subject to change. The estimated reward rate takes into account CoinList's fee.
4. What fees are charged for this stacking service?
A 15% fee will be taken from your earned Stacking rewards. Your stacked principal will not be affected by the fee.
5. Do I have to buy STX on CoinList to earn Stacking rewards?
No. Users who have procured their STX from other means or trading venues are able to deposit their STX into their CoinList Wallet and will need to opt into the Stacking rewards program.
6. Who is eligible to earn STX Stacking rewards on CoinList?
Anyone who is able to open a CoinList Wallet and deposit STX into their account is eligible for STX stacking rewards on CoinList. CoinList Wallets are not available in all jurisdictions, please visit this page to see our list of approved jurisdictions.
7. What are stacking rewards paid out in?
Stacking rewards are paid out in BTC. By Stacking your STX tokens, you will continue to accrue additional BTC rewards.
8. When will I receive my stacking rewards?
Your Stacking rewards will be distributed at the end of the elected Stacking period. If you wish to withdraw your Stacked principal, your request will be processed at the end of the elected Stacking period, and your principal and earned rewards will then be distributed to your CoinList account. You will not be able to remove your Stacked principal and earned rewards until the expiration of the applicable Stacking period.
9. Will my Stacking rewards be automatically re-stacked? Are Stacking rewards compounding?
Your stacked principal is automatically re-stacked and will continue to earn rewards until you choose to withdraw it. As rewards are earned in BTC, rewards are not automatically re-stacked.
Due to the nature of Stacking cycles, there is a 2 week cooldown period between each Stacking period in which your STX will not earn rewards and may be withdrawn. This means that if you choose to continue Stacking your Stacks after the elected cycle has ended, you will not earn rewards for 2 weeks (or 1 cycle) following that cycle, and will only continue Stacking once the cooldown period ends. If a withdrawal request is not submitted prior to the commencement of the subsequent Stacking period, your STX will be automatically locked for that Stacking period.
10. Who is the stacking provider for CoinList?
Currently, STX tokens held in CoinList Wallets are delegated to InfStones.
11. Can I choose who my STX tokens are delegated to?
CoinList does not include the functionality to choose the Stacking provider to which your tokens are delegated (i.e. they are automatically delegated to InfStones). In order to choose a specific stacking provider to which to delegate your tokens, you will need to transfer your STX tokens to a wallet that you control yourself.
Please note that users do not need to Stack STX through CoinList to earn rewards, and users who Stack directly via their own self-custodied wallet may earn a higher rewards rate.
12. How do I opt-out of Stacking rewards?
You may choose to opt out of STX stacking at any time by submitting a withdrawal request by clicking the “unstake” button. The request will be processed at the end of the current stacking period.
Legal Notice
This blog post is being distributed by Amalgamated Token Services Inc., dba “CoinList,” or one of its subsidiaries. CoinList operates CoinList Markets LLC, a licensed money services business (NMLS #1785267), among other subsidiaries. CoinList does not provide—and this post shall not be construed as—investment, legal or tax advice. This blog post and use of the CoinList website is subject to certain disclosures, restrictions and risks, available here and here.