Espresso has launched its PoS transition plan, with staking tables expected to take effect and staking rewards to begin accumulating on March 4.
Foresight News reports that the Espresso Foundation began its transition to a permissionless and decentralized base layer on February 27. The upgrade will be carried out in three epochs, and the staking table is expected to take effect on March 4, with staking rewards starting to accumulate.
Users can delegate ESP for staking through the Espresso staking dashboard, and the top 100 validators will receive rewards based on their staked amount. It takes approximately 7 days to complete undelegation. Airdrop users who stake can also unlock Boosted reward bonuses (the airdropped amount must be staked within 14 days of claiming). Boosted rewards will be unlocked in three milestones based on staking duration: after 3 months (staking rewards increase by 256% from token launch), after 1 year (staking rewards increase by 359% from the 3-month milestone), and after 2 years (staking rewards increase by 420% from the 1-year milestone). If a user unstakes more than 50% of their tokens before reaching a milestone, they will lose eligibility for the bonus rewards for that period.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BNP Paribas gives Microsoft (MSFT.US) a "Buy" rating: Azure price increases will be gradually implemented after contract renewals, and a deal with SpaceX may be announced soon.
BNP Paribas has rated Microsoft as "Buy" with a target price of $549.
Iranian President will head to New York for UN meeting
"Big Short" Burry opens a position in QXO (QXO.US), betting on building products integration and undervaluation; stock price rises over 7%
Investor Michael Burry disclosed that he has purchased common and preferred shares of QXO (QXO.US), a building products company, citing its integration strategy and the currently depressed stock price. The stock surged 7.2% on Monday.
700,000 new elderly patients join, Eli Lilly (LLY.US) dominates 70%: The first Medicare weight loss drug coverage report released
Dave Ricks, CEO of Eli Lilly (LLY.US), said in an interview on Monday that since Medicare began coverage for obesity drugs in July, 700,000 new elderly patients have started using GLP-1 medications.
