Published Oct 6, 2021
By Qredo Team
Your September auto-staking returns have now been paid!
Our auto-staking program delivers 10.1% returns APY for simply holding QRDO in your Qredo Wallet. This yield was doubled in the month of September.
How did we calculate your yield?
First, we took a snapshot of the average QRDO holdings in your crypto wallet in the 17 days between the distribution date for Option 1 buyers and the end of the month (14 September - 30 September).
Then we applied an annualized percentage yield of 20.2% across the 17 days (0.953%) to your average monthly QRDO holdings in September.
if you held an average of 1000 QRDO during September, you will have received 9.53 QRDO as staking rewards (0.953% x 1000 QRDO). This yield has been paid directly into your QRDO Fund.
Auto-Staking Returns that accrued less than 1 QRDO will not be paid.
The auto-staking scheme is expected to remain in place until the rollout of full decentralization in 2022.
At that point, we will transition to full staking. We envision this to become competitive and akin to a marketplace, where validators can offer their staking services to any user on Qredo Network.
More immediately, we will soon be updating the crypto wallet to show future staking yields from within the user interface.