Proof-of-Stake

Principles of operation

The Proof-of-Stake (PoS) mechanism enables KNG token holders to share in the profits from transaction fees charged on the Kanga Exchange platform. Every holder can deposit KNG tokens to a dedicated PoS account and receive rewards in proportion to the staked amount.

Proof-of-Stake (PoS) rewards are calculated and distributed daily at 12:00 AM (midnight) UTC. Rewards are deposited directly to user wallets.

    Tokens can be deposited to or withdrawn from the PoS account at any time, with the following restrictions:
  • The deposited/withdrawn tokens remain locked until the beginning of the next staking period (i.e. until idnight UTC).
  • Locked tokens do not participate in rewards calculation.
  • In order to count towards reward calculation for any given staking period, tokens must remain in the PoS account for the duration of that entire period (midnight to midnight UTC).
EXAMPLE

Tokens were deposited to the PoS account on Monday at 10:00 AM UTC. They will be unlocked at 12:00 AM (midnight) UTC on Tuesday—i.e. after 14 hours.

Tokens were withdrawn from the PoS account on Friday at 10:45 PM UTC. They will appear in your wallet at 12:00 AM (midnight) UTC on Saturday—i.e. after 1 hour and 15 minutes.

Rewards will be paid for three staking periods: Tuesday, Wednesday and Thursday.

Deposit KNG to your PoS account

To deposit KNG tokens to your PoS account, follow these steps:

  1. Log in to your Kanga Exchange account and navigate to the Earn tab.
  2. In the Transfer box, select Deposit to PoS from the drop-down list.
  3. Enter the token amount you wish to deposit in the field below.
    Click the MAX button to deposit the entire available KNG balance.
  4. Click Transfer KNG.
  5. A pop-up window will open, showing a summary of the operation and the time after which the tokens will be unlocked. Make sure the amount displayed is correct, then confirm the deposit by clicking the Transfer button.
  6. The transferred amount will be immediately deducted from your wallet balance. Until it’s unlocked it will be visible in your PoS account under “Incoming”.
The deposited amount will be available in your PoS account at the beginning of the next staking period (see: “Principles of operation” above).
Withdraw KNG from your PoS account

To withdraw KNG tokens from your PoS account to your wallet, follow these steps:

  1. Log in to your Kanga Exchange account and navigate to the Earn tab.
  2. In the Transfer box, select Withdraw to wallet from the drop-down list.
  3. Enter the token amount you wish to withdraw in the field below.
    Click the MAX button to withdraw the entire available KNG balance.
  4. Click Transfer KNG.
  5. A pop-up window will open, showing a summary of the operation and the time after which the tokens will be unlocked. Make sure the amount displayed is correct, then confirm the withdrawal by clicking the Transfer button.
  6. The transferred amount will be immediately deducted from your PoS balance. Until it’s unlocked it will be visible in your wallet under “Incoming”.
The withdrawn amount will be available in your wallet at the beginning of the next staking period (see: “Principles of operation” above).
My investments

Account balances and release schedule for KNG tokens purchased during the private sale and pre-IEO are available in the My investments table at the bottom of the page.

Tokens purchased during the private sale (February 1 – May 31, 2019) will be released to buyers over the period of 200 days starting February 1, 2020, at the rate of 0.5% per day.

Tokens purchased during the pre-IEO (June 1 – November 1, 2019) will be released to buyers as follows: one half at the launch of the IEO (November 11, 2019), and the other half over the following 200 days, at the rate of 0.5% per day.

Tokens purchased duirng the IEO are released to buyers immediately.