Important AVT Staking Withdrawal Notice: Two Options
March 18, 2022
The staking program is now 99.9999% full and the AvN Gateway will soon be going live.
This means that the existing staking program is closing and will be replaced by a new, improved staking program.
Introducing The New & Improved AVT Staking Program
To date, stakers have earned staking transaction fees totaling 144,125 AVT from 11.86m transactions — with a further 45m agreed yet to process.
We are, of course, on a journey to our first 1 billion transactions.
Therefore the new staking model will go live in April with no limit to the total AVT you can stake. This is part of our move to a Nominated Proof of Stake model following the polkadot launch roadmap.
Your Two Withdrawal Options
As a staker, you now have two options for withdrawing both your original stake and your share of earned rewards to date:
- Receive your full AVT stake and rewards via Ethereum, or…
- Receive your full AVT stake and rewards over the Aventus Network
It is important to note that opting to withdraw via Ethereum will involve you paying the Ethereum gas fees to unstake and again to re-stake at a later date should you wish.
By choosing to receive your AVT over the Aventus Network, you will avoid all fees and can re-stake as much as you wish.
We will make an AvN account and wallet available to you through a third party we are integrating with that we will reveal soon in April.
If you would like your AVT before then and are happy to pay the Ethereum gas fees, you can choose to receive your tokens via Ethereum on the 31st of March.
Please let us know your decision before that date.
When you have made your decision, please send an email to firstname.lastname@example.org with the subject line “Staking Withdrawal” and let us know your preferred method of Ethereum Network withdrawal or Aventus Network withdrawal.
If we don’t hear from you before the end of March, your stake and rewards will automatically move to the Aventus Network for withdrawal at a later date given compliance with T&Cs.