Stakin To Discontinue Staking Support for KILT

Jun 23, 2022 1 min read
Stakin to discontinue staking support for KILT

After careful consideration, Stakin has decided to discontinue staking support for KILT

A message to our KILT delegators. After careful consideration, Stakin has decided to discontinue our KILT collator by July 31st, 2022. We would like to thank all our delegators for their support and are excited to continue to offer our services to the Proof-of-Stake ecosystem.

As the unbonding period for KILT network is 7 days, we’d recommend redistributing your $KILT to another collator at your earliest convenience. You can find instructions on how to withdraw your stake or nominate other collators below.

You as a delegator can increase or decrease your stake by using the Polkadot JS app. Go to the KILT Mainnet, select “staking” and “stake less”. Your adjustment will become effective right away. You can readjust the amount and divide it over other collators you have staked with. Or you can stop delegating by selecting  “developer”, “extrinsics” and then “submissions”

It is worth noting that you stop receiving staking rewards if you fail to remove your nomination when the Stakin collator node goes offline – unless you are already nominating a few collators

🙋 Any questions? You are welcome to reach out via, Telegram, or Discord.

We'd like to thank our delegators once more for their help, and we look forward to continuing our development and efforts within the proof-of-stake ecosystem.

DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the failure of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.

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