New blockchain feature: Stake Extensions

Compendia’s DeFi features (staking and voting) are moving forward! We launched a new transaction type on our testnet, and deployed our new testnet block explorer.

Stake Extensions

You’ll soon be able to renew your stake at the same – or a higher – duration.

If you extend a stake, its duration is renewed from the moment of the extend transaction at a new duration. The stake will release after the new duration has passed (3 months, 6 months, or 1 year).

If you choose to extend your stake to a longer duration (e.g. from 3 months to 1 year), you also get the increased vote power, as if it’s a new stake.

For example: if you extend your 3-month stake to a full year, the voting power granted by the stake is doubled, from 500% to 1,000%.

Stake Extensions

Extending a stake has a ß1.00 transaction fee.

You can try extending a stake now at the testnet wallet.

We expect to launch Stake Extensions on Compendia’s mainnet next week (before 20 December 2020). 

Bindscan Testnet

We also deployed our new testnet block explorer: https://testnet.bindscan.io

The explorer is identical to our mainnet explorer, and includes testnet features before they’re deployed to mainnet (for example, the new Stake Extend transactions).

Was this helpful?

0 / 0

Leave a Reply 0

Your email address will not be published. Required fields are marked *