We are happy to announce the launch of Phoenix Staker on Binance Smart Chain is scheduled for 12:00pm (midday), 25th June 2021 (SGT). Phoenix Staker is a decentralized staking platform for loyal hodlers to ‘Stake PHB’ and receive additional PHB tokens as staking rewards. This release comes after the completion of an independent security audit (Click here for report — PASSED no vulnerabilities). In addition, our community testing period identified no loopholes or high severity defects.
The launch of Phoenix Staker will coincide with the decommissioning of the Insights Platform. PHB inflation originally allocated to staking and content creators on the Insights Platform will be redirected to Phoenix Staker rewards in its entirety. This means that in order to continue staking PHB for PHB you must take the following action steps.
Note: The allocation of PHB inflation rewards are subject to change in the future.
ACTION REQUIRED:
- WITHDRAW from Insights Platform
If applicable, withdraw PHX NEP5 or PHB BEP2 from the Phoenix Insights Platform. - Note — All PHX currently on the Insights Platform will be automatically converted to PHB BEP2 at 12:00pm 25th June 2021 (SGT).
- SWAP to PHB BEP20
Use our previous swap guide in order to swap your PHX NEP5 or PHB BEP2 tokens to PHB BEP20 via Binance Wallet or Binance using the guide found here. - STAKE PHB on Phoenix Staker
Stake PHB BEP20 on Phoenix Staker. (Remember to have a small amount of BNB for fees!)
Note: There is no deadline for withdrawing PHX/PHB from insights — you merely will not be eligible for PHB rewards unless you are staking PHB BEP20 on Phoenix Staker.
Staking Tiers for Phoenix Staker
As previously advised, Phoenix Staker has the following staking tiers with an increasing bonus weight based on your staked PHB amounts:
Note that Phoenix Staker tiers are different from what has been proposed for Phoenix Global mainnet.The Phoenix Global Node Ecosystem tiers still remain as the working structure for Phoenix Global mainnet, when the responsibility of oracle nodes/supernodes increase (thus warranting larger rewards).
