Dear ICONFi users and Band Protocol communities,
We are excited to announce that Band Protocol (BAND) Staking is available on ICONFi!
- Please update ICONFi application before using BAND Staking service. When you open the app, update will automatically proceed. If failing to update, go to [My Page] tab and click on [Manual Update]. Please DO NOT LEAVE the screen until the update hits 100%.
ICONFi is a hybrid crypto asset management service where crypto users can carry out Staking with ease.
Under the mission of ICONFi, “Make Crypto Simple”, ICONFi is providing a user-friendly service where anyone can maximize their profits out of crypto savings and stakings. In particular Auto Stake is a unique feature for ICONFi users that enables the users to claim staking rewards and restake them to enjoy the compound effect on Staking.
Band Protocol is a globally well-known cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. In fact, the price data of all coins registered on the ICONFi platform have been received from the Band Protocol and this partnership has worked like a charm. And today, ICONFi starts to support BAND holders to enjoy the BAND staking with ease via ICONFi services.
Check out the details below and try BAND staking on ICONFi!
How to Stake BAND on ICONFi
- Create BAND Wallet & Deposit.
a. Click on the [Deposit] button at the top of the screen.
b. Select [BAND] and click [Create Deposit Address].
c. Deposit BAND on your ICONFi BAND wallet.
2. Adjust Stake
a. Click on [Account] at the bottom, and go to the [Staking] tab.
b. Select [BAND] wallet and click on [Adjust Stake].
3. Decide how many BAND you want to stake.
a. Decide how many BAND tokens that you would like to stake. You can either enter the amount manually or use the slider for convenience.
b. Click [Apply Changes] to complete BAND Staking.
- Take note that you must always have at least one unstaked BAND available to cover network transaction fees. These transaction costs are incurred directly from the BAND network and ICONFi does not charge any fee on Staking.
4. Unstaking
a. Go to the [Staking] tab.
b. Click [Adjust Stake].
c. Enter the amount of BAND you want to stake or adjust the slider to adjust the amount of BAND that you would like unstaked.
d. Press [Apply Changes].
- Please note that Unstaking BAND completion takes up to 21 days.
- Please note that the amount of Staked BAND must be higher than 1. If you want to completely unstake BAND from ICONFi, move the Slider to Min or enter 0 manually.
5. Claim Reward
A. Auto Stake
a. Click the [Auto Stake] button at the top right corner.
b. Select [Auto Staking On] and click the [Save Changes] button.
If you turn on Auto Stake, the ICONFi system will automatically claim the staking reward when the accumulated reward is over 1 BAND. And the system will automatically re-stake the claimed BAND. Whenever the system claims or re-stakes the reward, the Network Fees will be paid automatically from your BAND wallet.
B. Manual Claim
If the Auto Stake feature is not activated, the staking rewards will be accumulated until you manually claim the rewards. If you manually claim the staking rewards, they will be deposited in your BAND wallet and stay unstaked.
Whenever the users claim or re-stake the reward, the Network Fees will be paid automatically from your BAND wallet.
Try BAND staking on ICONFi!
The convenient staking features on ICONFi would help ICONFi users and BAND community members enjoy compound effects on BAND Staking. If there’s anyone is also interested in Fixed savings on BTC, ETH, USDT & USDC with the among-the-highest interest rates and no tier system cutting down the actual interest rates, try to navigate through the ICONFi app and other guide articles explaining how to use the Fixed savings and receive compound interests.
Questions
If you have any questions, please drop us an email at support@icon-fi.com.
About ICONFi
ICONFi is a digital asset savings platform that provides simple and intuitive earn products so that anyone can easily multiply crypto assets. ICONFi aims to simplify the complicated processes often associated with crypto assets and offers a sleek, straightforward user interface which supports saving, staking and airdrop activities at the palm of your hand.
