New Staking System — Update of Cosmos System

Moonstarter
4 min readMar 7, 2022

Dear Community,

Through the recent months, you have been providing us regular feedback regarding MoonStarter App. We love this and want it to continue!

Meanwhile, we have been working on our App and we are glad today to introduce MoonStarter Staking V2 which will feature:

  • Cosmos Status reviewed: 3 Cosmos Status with 3 different advantages
  • Ability to get Cosmos Status instantly when staking
  • Unlock Freeze

New Cosmos System

We have decided to review the current Cosmos status as follows:

  • People staking for 30 days will get a bonus allocation of 10%
  • People staking for 60 days will get a bonus allocation of 20%
  • People staking for 90 days will get a bonus allocation of 30%

But that’s not all! You want to get Cosmos status instantly ? You can! By accepting to lock your tokens for one of these periods:

After locking your tokens, you will see how long you have to wait before initializing your cool-down period:

What’s this cool-down period?

If you want to withdraw your MNST tokens, there is now a 7 days cool-down period that you have to initialize.

After this 7 days period, you will:

  • Lose your Tier and its advantage, as well as your Validated staked amount
  • Be able to withdraw your MNST tokens

Then you will need to agree and confirm:

After initializing your cool-down, you can see the remaining time before you can withdraw your tokens.

Once the cool-down period has ended, you can withdraw your tokens whenever you want:

So now what do you have to do ?

IMPORTANT: These actions will need to be realized at latest Sunday 13th of March 2022 at 23:59 UTC Time to continue participating in Sales held on MoonStarter App

Migrate your tokens to the new contract

In order to migrate your staked tokens from the Staking contract V1 to the Staking contract V2, go to: https://app.moonstarter.net/staking

  1. First, you need to withdraw your tokens from the Staking contract V1

Once you have withdrawn your token from the V1 staking contract, the information message at the top of the page should disappear, and you should only see the staking block from the V2 contract, just like in the screenshot below:

2. Approve the V2 Staking contract to use the MNST tokens:

3. Stake the amount you want on the V2 Staking contract and confirm:

Once transaction confirmed, you are done and ready !

Besides this, we are still working on finding ways to improve MoonStarter even further. As usual, feel free to share your highly appreciated feedback with us !

About MoonStarter

MoonStarter’s mission is to be the single-stop multi-chain launchpad for selected projects without distinction of the blockchain used. While the current project landscape is scattered and dependent on the blockchain used, MoonStarter aims to offer the possibility to launch on one or multiple selected blockchains, using only one token on the Binance Smart Chain.

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