Questions regarding staking


(Dunco) #1

Hi guys,
I try to follow Community regularly, but there are few questions regarding staking I have not found sufficiently answered:

  1. Will NEX tokens hodlers be able to choose in which tokens they will receive their dividends from launch? If not when will this option be available?
  2. Do NEX token hodlers have to claim their stake every month or could they just wait for few months? Could we for example wait until BTC available and then choose to pay out everything in just BTC?

I know that some might argue, that it does not matter since then we can convert everything into our preferred tokens ourselves, but this could be quite burdensome especially with small amount. In addition to that in some countries if you just receive tokens and hodl them you do not have to pay taxes, but if you trade crypto to crypto it is considered taxable transaction. So to sum it up receiving dividends in form of preferred tokens have many benefits for NEX token hodlers.

(Justus) #2

Can’t answer your questions, but be careful with the tax assumptions. You do not “just receive tokens” - those are dividends payed according to your amount of securities. Pretty sure most countries want taxes for that.

(Badanzer) #3

I would like to add a question:
How often will we be able to claim our dividends once a month? Or will it be like staking NEO?

(Kelvin Fugara) #4

Those Questions were already answer before, the MVP will be launched with receiving dividends from all traded tokens, in the future the the investors can choose which token to receive dividend and system will convert automatically.

And the dividend is received monthly

(Badanzer) #5

@BaClaire The only topic i found was this: Any official word on the frequency with which we can claim staking dividends?
And there were two different models mentioned but no official statement^^

(Kelvin Fugara) #6

Have you read the whitepaper?

(Badanzer) #7

Sure but there is no answer to this question^^

4 NEX Token
The NEX token allows holders to claim a share of fees generated by the payment service and
exchange. In total, 50 million tokens will be issued that entitle holders to a share of the fees taken by the exchange and payment service. NEX holders can claim their profits through a staking process, where claims on the staked NEX operate similar to GAS claim calculations on the NEO network. In this way, token holders who stake NEX benefit directly from the success of the exchange services: as more fees are generated, holders will receive larger rewards. NEX tokens will be regulated as registered European securities with plans for expansion to other jurisdictions.

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.

(Dunco) #8

Actually most countries do not have regulations regarding security tokens. So it is kind of unclear whether this can be considered regular “dividend”. In my opinion it is little bit different because dividend is distribution of profit to shareholders, but dividends from NEX are not calculated from profit, but from the exchange fees. Irrespective of that, it would be much easier,if you could receive this payment just in form of you preferred token and not all kinds of tokens.

(Badanzer) #9

@BaClaire And here it says weekly payouts^^

  1. MIT DEN TOKEN VERBUNDENE RECHTE (Wertpapierprospekt)
    Partizipationszahlungen werden jeweils wöchentlich berechnet und ausbezahlt. Auszahlungen erfolgen nur an jene NEX Token Holder, welche ihre NEX Token für zumindest einen Monat während des Bemessungszeitraums blockiert haben. NEX Token Holder, die ihre NEX Token während des relevanten Bemessungszeitraumes nicht blockiert haben, haben keinen Anspruch auf Partizipation an den Gebühreneinnahmen für den relevanten Bemessungszeitraum.

(CryptoUK1) #10

Like @BaClaire said, dividend token choice will be available at some point. Back in September, Ethan said that feature is high priority so don’t think we’ll have to wait too long.

(Rory) #11

(Kelvin Fugara) #12

““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””

Meaning the minimum dividend payout is 25% for one month, meaning dividend is based on monthly.

(Badanzer) #13

No this just means that your min period of staking is one month.

(Kelvin Fugara) #14

same meaning @Badanzer , just different way of understanding it,

(Nick) #15

I’m not sure what the source is anymore but I’ve read the 1st of the month somewhere. Also asked the team during the meetups and it’s on monthly basis.

To answer your second question, @dunco, you can wait to claim as long as you want. Just like with claiming GAS. Source: the team after the Q4 presentation :slight_smile: