Moonstake Wallet Now Supports Staking Of Shiden (SDN)

SINGAPORE, Nov 26, 2021 – (ACN Newswire) – Moonstake is
pleased to announce that our users can now earn interest
from staking Shiden network’s SDN token on both the Web and
Mobile Wallets! Hold, send, receive, and stake SDN to
receive rewards with the best user experience through one
single click. In fact, Moonstake is amongst the world’s
first group of validators for Shiden Network. After Cosmos,
IRISnet, Ontology, Harmony, Tezos, Cardano, Qtum, Polkadot,
Quras, Centrality, Orbs, IOST, and TRON, Shiden became the
14th staking coin available on Moonstake.

Moonstake
started the staking business last year with the aim to
create the largest staking network in Asia. Since then, we
have developed the most user-friendly Web Wallet and Mobile
Wallet (iOS / Android) with support for over 2000
cryptocurrencies. After a full-scale operation launched in
August 2020, Moonstake’s total staking assets have grown
rapidly to reach $1 Billion, allowing Moonstake to become
one of the top 10 staking providers globally. Since March
this year, Moonstake has also entered DeFi together with the
newly launched DeFi platform, Muse.Finance, who has begun
releasing its core DeFi products which are all scheduled to
be integrated into Moonstake platform to enable advanced
DeFi connectivity for our global users.

The Shiden
Network is built using almost the same code base as Astar
Network (formerly Plasm), a public blockchain originating in
Japan, and connects to the Kusama Network, an experimental
network that is one-tenth the scale of the Polkadot Network.
Since the Kusama Relaychain does not support smart contract
functionality by design, it needs a smart contract layer
which is where Shiden Network comes in. On top of this,
Shiden also supports various advanced blockchain
applications like DeFi, NFTs and more.

In February
2021, Moonstake entered a strategic partnership with Plasm,
now known as Astar Network, to expand the Polkadot ecosystem
and explore further collaborative development opportunities
in DeFi. As such, the integration of Shiden, Astar’s sister
network, is the fundamental next step of our collaboration
and an important part of our plan to penetrate the DeFi
market. Our teams are working hard together to enable the
“DApp Store ” feature on Moonstake Wallets for users to
enjoy staking to earn with other Shiden DApps on the wallet
interface, please stay tuned! The current list of Shiden
DApp Staking can be found here:

https://portal.astar.network/#/store/discover-dapps

How
to stake SDN on Moonstake Wallet

Here’s a simple
3-step process to stake SDN with Moonstake Wallet:

1.
Register your Moonstake Wallet via Web or mobile (iOS /
Android)

2. Select SDN from the “Wallets” screen and
click the “Add Asset” button.

3. Access the SDN screen
to check your staking information. From the Staking tab,
click the “Stake” button and enter your wallet password to
complete staking.

How SDN staking works

– Hold
SDN Token, 100 SDN minimum staking amount.

– Agree to
lock in and stake SDN

– Currently, each DApp can have
a maximum of 512 nominators.

How to get rewards of SDN
staking:

The annual reward (APY) for SDN is dependent
on Shiden and its DApp Store. You can claim your SDN rewards
once every ERA, which is a period of time that is
approximately 24 hours. The claim needs to be done within 15
days or the unclaimed rewards go to the treasury. A claim
can be made by the contract owner or any staker in the DApp.
One claim will be for everyone, so it doesn’t have to be
you. If the DApp owner or anyone else from the staking pool
press “Claim”, you will also get your ERA rewards.

How
SDN unstaking works:

If token holders want to send an
asset that is currently staked, they will need to unstake it
first. There is no lock period for unstaking
SDN.

Moonstake is proud to be amongst the world’s
first group of validators and we’re looking forward to
further cooperation with the team at Shiden Network to
accelerate global adoption of staking and DApps.

About
Moonstake

Moonstake is the world’s leading staking
service provider that develops and operates decentralized
wallet services for businesses and individuals.

Since
its launch in April 2020, Moonstake has partnered with 27
leading platform providers, including Cardano’s constituent
Emurgo, developer of the Polkadot-connected blockchain Astar
Network Stake Technologies, and the TRON Network with over
50 million users. In May 2021, Moonstake further enhanced
its corporate credibility by becoming a wholly owned
subsidiary of OIO Holdings Limited, a company listed on the
Singapore Stock Exchange.

Using blockchain technology,
Moonstake aims to progress toward a world where anyone can
easily make use of highly secure and reliable digital asset
management tools.

https://www.moonstake.io/

About
Moonstake’s staking business

For the staking industry,
which has grown into a 630-billion dollar market as of
September 2021, Moonstake provides a decentralized staking
service that does not require user deposits, and supports
nodes around the world in addition to its own validator
nodes. Moonstake currently supports the staking of 12
blockchains. With a total staking assets of 1.8 billion USD
and a global user base, the company ranked third out of more
than 10,000 providers worldwide in June of the same
year.

About Shiden

Building the premier
multi-chain smart contract platform on Kusama
Network.

Shiden Network is a multi-chain decentralized
application layer on Kusama Network. Kusama Relaychain does
not support smart contract functionality by design. Kusama
Network needs a smart contract layer. This is where Shiden
Network comes in. Shiden supports Ethereum Virtual Machine,
WebAssembly, and Layer2 solutions from day one. The platform
supports various applications like DeFi, NFTs, and
more.

https://shiden.astar.network/

About
Astar

Astar Network is a dApps hub on Polkadot that
supports Ethereum and layer 2 solutions like ZK Rollups.
Plasm aims to be a multi-chain smart contract platform that
will support multiple blockchains and virtual machines like
EVM and WASM.

https://astar.network/

© Scoop Media

 


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