So for staking, NEX tokens are to be sent to a smart contract. Let’s say I want to stake my NEX tokens for a period of 2 years. Couple of questions:
- Are the staked tokens automatically returned to my wallet after the 2 years period expire?
- To which wallet exactly are those tokens returned - e.g. can this be a ledger hardware wallet?
- If staked tokens are not automatically returned to the wallet after staking period is over and something happens to the interface of Nash DEX (e.g. website gets hacked and it’s not accessible etc.) how can owners get/claim their staked NEX tokens back?
Here is a quote from the NEX whitepaper, but it does not answer the questions above.
4.2 Claiming Fees via Staking NEX Tokens
Users can stake their NEX tokens in a smart contract that pays out a proportion of exchange and payment service fees. To stake their tokens, users send their NEX tokens to the smart contract via a stake method that records the starting block and the amount sent by the user. The user can then make periodic claims on the contract to retrieve their share of NEX profits since staking began . Users can commit to staking their tokens for longer periods of time to receive a larger proportion of fees. The base rate of fee share will be 25%, if the user stakes their NEX tokens for one month, increasing linearly up to 75% if a user is willing to stake for two years.
Thank you in advance for your answers - just trying to understand how safe will be my staked tokens, because I am definitely going to stake them!