Dear BitMax.io Users,
BitMax.io has launched BitMax Staking. BitMax Staking is an innovative staking product that aims to provide a one-stop staking service with a lower entry barrier and easier access to liquidity.
Click here to visit the Staking page.
Key Features of BitMax Staking Service
1. Unstake anytime to trade or transfer without delay via "Instant Unbonding;”
2. Trade while earning rewards by using staked assets as margin collateral;
3. Maximized returns through automated redelegation of rewards under "Compound Mode.”
Assets initially supported for staking are Cosmos (ATOM) and Tezos (XTZ).
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Cosmos（ATOM）
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Tezos（XTZ）
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Reward Distribution Starting Time
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2nd Day
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4th Day
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Reward Distribution Cycle
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Every Day
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Every 3 Days
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Regular Unbonding Period
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21 Days
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None
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Instant Unbonding
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Supported
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Not Applicable
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Staked Assets as Margin Collateral
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Supported
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Supported
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Compound Mode
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Supported
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Supported
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Note: There's no unbonding period for Tezos; thus, Instant Unbonding doesn't apply.
How to participate in staking?
- Go to "Home" → "Staking;"
- Choose a specific staking asset and click "View Now" to access its "Project Details" page;
- Click "Delegate Now" and enter the amount of assets you intend to stake;
- Click "Confirm" after you've read and agree to the BitMax Staking Agreement.
Users can also directly complete the delegation process in "My Asset" page.
Staking Page
Staking Process: "Project Details" Page
How to activate Compound Mode?
Compound Mode is an innovative feature introduced by BitMax.io that automatically redelegates staking rewards once they are distributed. Users can choose to activate or deactivate this function when performing the delegation or under “Home Page”→"My Staking" at any time. Upon activation, staking rewards will be automatically redelegated once they are distributed.
Compound Mode Activation: "Project Details" Page
Compound Mode Activation: "My Staking" Page
How to use staked assets in margin trading?
Go to “Account Transfer” under “My Asset,” select the token that represents your staked assets, for example, ATOM-S will be used to represent your staked ATOM, and make a transfer from Cash Account to Margin Account. A percentage discount will be applied to the value of staked asset in the calculation of margin rates. This applies only to assets supported by the platform for margin trading.
Account Transfer
How to unstake and stop staking?
Users can either choose Regular Undelegation or Instant Unbonding to unstake their assets:
Regular undelegation requires an unbonding period over time, before assets can be fully unlocked, depending on the staking mechanism implemented by the corresponding project. During this unbonding period, staked assets are still in "undelegation" process, which will be shown on "My Staking" page. Users can also view the undelegation process on “History” page. For example, the unbonding period for ATOM is 21 days, the system will show "Pending 15/21" on the 15th day after undelegation attempt.
If users choose to unstake via Instant Unbonding, assets can be redeemed instantly without the need to wait for the lengthy unbonding period. This is a service that BitMax.io provides in order to address the liquidity issue of staking, yet a fee will be charged.
Regular Undelegation VS Instant Unbonding
Please refer to for further details.
Thanks a lot for your continued support.
BitMax.io Team
April 2nd, 2020
Telegram Group: https://t.me/BitMaxioEnglishOfficial
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