Announcing 5x $GERO rewards for delegating to the GeroWallet Stake Pool

We have listened to the feedback and decided to increase the stake rewards to 5 times the original amount of $GERO. This increases the $GERO reward ratio from 0.0125 to 0.0625. For wallets already delegating to the stake pool you will receive 5x the rewards for the entire duration you were staked. Thank you to everyone who has delegated so far.

How to Participate

GERO is utilizing the Cardano Blockchains core functionality of delegating to a stakepool. To participate you can use GeroWallet or a compatible ADA wallet, search for the GERO stakepool and stake. To fully utilize the $GERO rewards, users should delegate their ADA starting today May 28st 2022.

Steps to Stake

  1. Create a GeroWallet or import an existing wallet to GeroWallet.
  2. Make sure you have ADA stored on the wallet. A minimum of 4 ADA is needed to start staking. If you don’t have ADA or would like to add more you can purchase ADA directly in the wallet by clicking the ‘buy’ button in GeroWallet.
  3. Click on the Stake button from within the GeroWallet home screen.
  4. Search for ‘GERO”.
  5. Stake your wallet to the GERO stake pool starting today May 28st 2022.

If you are already staked(delegated) to an active pool you simply need to change pools or add the GERO stake pool as a pool your wallet stakes to.

Leaving Stake pool Early

Users will have the ability to unstake their ADA at any time as the GERO token rewards are calculated for each Epoch (5 days) and will be distributed starting June 25th, 2022.

How Rewards are Calculated

Three variables determine how much $GERO participants in the stakepool will receive:

  1. Amount of ADA delegated. The more ADA you have staked the more rewards you will receive.
  2. Amount of time staked (total number of epochs delegated)
  3. $GERO reward ratio (0.0625)

For example, if one delegates 1000 ADA for 6 epochs they will receive 375 $GERO when they claim from DripDropz platform: 1000∗6∗0.0625=375.0 $GERO tokens.

Participation Basics

  • Started May 25th, 2022 or Epoch 341
  • Ends on June 25th, 2022 or Epoch 347
  • $GERO rewards are claimable on June 25th, 2022
  • Total duration is 6 Epochs (1 epoch = 5 days)
  • Participation pool: GERO
  • $GERO rewards are calculated at the end of each epoch
  • Participants will ONLY receive $GERO as a reward
  • You are free to spend your ADA at any time while you’re stake to the GERO stake pool

About GeroWallet

Our users are our motivation. We are committed to building a dynamic environment for the advancement of blockchain by designing innovative, user-friendly tools for the DeFi community. Our promise is to continuously strive to provide accessibility to all through an intuitive user experience.

Website |Discord| Telegram | Twitter | Medium | YouTube| Twitch

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
GeroWallet

GeroWallet

Bridging DeFi and your needs, in one wallet.