Posted by Ambire Wallet on February 1st, 2022
Starting today, you can unlock 20% of accrued $WALLET tokens in your Ambire Wallet. $WALLET staking is coming soon too.
If you have used actively your Ambire Wallet since we launched it back in December and kept some funds in it, you’ve probably accumulated some $WALLET token rewards as per our early users continuous airdrop incentive. (Find out more about the $WALLET token, early rewards program, staking mechanism and other details from the Ambire Wallet Whitepaper.)
Now the awesome news:
You can unlock 20% of your accumulated $WALLET rewards based on a snapshot made earlier today.
Just go to your dashboard and make sure you are on the Ethereum network. Open your $WALLET rewards window and you’ll see the amount of tokens available for claiming.
Have in mind that when claiming rewards, you are minting $WALLET tokens via the token contract, so you will have to pay network fees on the Ethereum network.
What about the other 80%?
In the week to come Ambire users will be able to claim the rest of their claimable rewards. You will have two options:
- Claim all your $WALLET outstanding balance as staked xWALLET token and receive staking rewards. If you want to unstake xWALLET, you can wait for a 30 days unbonding period to end or you can “rage quit” and unbond some of your $WALLET.
- Claim all your $WALLET outstanding balance but have some of it burned.
We introduce the burning of $WALLET token to reduce pressure on the price of the token, engage our community better and introduce a deflationary mechanism.