[Coinlist] Stake Vega Protocol (VEGA) on CoinList and Earn Rewards
In June, the Vega Protocol (VEGA) token sale on CoinList added more than 21,500 new token holders to the Vega community, with more than $43M in VEGA tokens purchased.
In September, we launched VEGA trading across CoinList and CoinList Pro to further VEGA’s exposure to the broader crypto ecosystem via a trustworthy trading solution.
Today, we’re excited to announce that eligible CoinList users can stake VEGA directly on CoinList and earn rewards.
1. What is VEGA staking?
- VEGA is the utility token for the Vega blockchain. Instead of using miners and a Proof-of-Work (PoW) consensus mechanism to verify transactions and maintain the integrity of the Vega blockchain, Vega uses a Proof-of-Stake consensus mechanism. VEGA token holders can stake their tokens with the network and earn rewards for doing so.
2. How do I earn VEGA staking rewards on CoinList?
- When you deposit or purchase VEGA on CoinList or via the CoinList Vega token sale, you may be eligible to receive staking rewards by keeping VEGA in your CoinList Wallet. Once you deposit VEGA into your CoinList Wallet, you are automatically opted into staking rewards. There is no action on your end required to participate. Please note that VEGA held on CoinList Pro do not earn staking rewards.
3. How much are VEGA staking rewards?
- The exact staking rewards rate is not yet known, but it will be possible to see the historical rate by visiting token.vega.xyz in the coming weeks. Once a historical rate is known, we will update this FAQ.
4. What fees are charged for this staking service?
- A 15% fee will be taken from your earned staking rewards. Your staked principal will not be affected by the fee.
5. Do I have to buy VEGA on CoinList to earn staking rewards?
- No. Users who have procured their VEGA from other means or trading venues are able to deposit their VEGA into their CoinList Wallet and will be automatically enrolled in the staking rewards program.
6. Who is eligible to earn VEGA staking rewards on CoinList?
- Anyone who is able to open a CoinList Wallet and deposit VEGA into their account is eligible for VEGA staking rewards on CoinList. If you participated in the Vega token sale on CoinList, you are eligible to earn staking rewards for both your locked and unlocked tokens. CoinList Wallets are not available in all jurisdictions, please visit this page to see our list of approved jurisdictions. Not available for citizens and residents of the US and Canada.
7. What are VEGA staking rewards paid out in?
- VEGA staking rewards are paid out in VEGA. This means you will accrue additional VEGA by keeping your VEGA in your CoinList wallet.
8. When will I receive my VEGA staking rewards?
- Once per month, CoinList will distribute rewards to users pro-rata of their average holdings over the month. We will notify you via email once your rewards have been distributed into your CoinList wallet.
9. Will my staking rewards be automatically re-staked? Are VEGA rewards compounding?
- Yes, your VEGA staking rewards are automatically re-staked and earning additional rewards unless you withdraw or trade them.
10. Who is the VEGA staking provider for CoinList?
- Currently, VEGA tokens held in CoinList Wallets are delegated to Figment, Staking Facilities, and Chorus One.
11. Can I choose who my VEGA tokens are delegated to?
- CoinList does not include the functionality to choose the staking provider to which your tokens are delegated (i.e. they are automatically delegated to Figment, Staking Facilities or Chorus One). In order to choose a specific staking provider to which to delegate your tokens, you will need to transfer your VEGA tokens to a wallet that you control yourself.
12. How do I opt-out of VEGA staking rewards?
- You will automatically receive staking rewards by holding VEGA in your CoinList Wallet. If you would like to opt-out of VEGA staking rewards, please login to your CoinList account, go to coinlist.co/staking, select the options button beside “Deposit & Stake”, and from there you can elect to opt out of receiving VEGA staking rewards
13. [For VEGA Token Sale participants only] Will my locked VEGA tokens be eligible to receive staking rewards?
- Yes, your locked VEGA tokens will automatically earn staking rewards. Your staking rewards will be distributed to your CoinList VEGA wallet on a monthly basis and will be available to trade or withdraw, but will earn a lower rewards rate than your locked VEGA
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