MiamiCoin stacking is now live, exclusively on Okcoin.
Earn high APY* rewards when you stack MiamiCoin (MIA) on Earn. The minimum stacking amount is super low, and we charge no fees on Earn so get ready to start earning. 🔥
TL;DR
- What? MiamiCoin stacking is available now, exclusively on Okcoin. There’s no fees and you can earn high APY in stacking rewards.
- Who? All Okcoin customers except for residents of the EU, the UK, Singapore, and Brunei.
- When? MIA stacking is available now both on the web and in our mobile app. Get the app
What is MiamiCoin?
MiamiCoin is the first-ever city-focused token and is available exclusively on Okcoin. Built by the CityCoins community on top of the Stacks blockchain, it allows holders to:
- Earn stacking rewards
- Support the city of Miami
- Encourage innovation and crypto-friendly policies in Miami
- And much more. Read our blog
How does MiamiCoin stacking work?
In the decentralized finance (DeFi) lingo, staking is the process of locking tokens to secure their underlying protocol. In exchange, holders of the token receive staking rewards. A similar process called stacking exists on the Stacks blockchain. Beyond the complicated mechanics of blockchain security validation, stacking is easy enough to grasp: You can put your crypto to work and earn rewards while it sits.
Being directly integrated with the protocols allows us to offer access to the best decentralized finance (DeFi) products and staking offers. We were early believers in Stacks for instance and are the only exchange to have integrated with its blockchain. That’s why we’re now the only exchange to offer access to MiamiCoin – it’s built on top of Stacks. The world of DeFi can be a little daunting though so we’ve made staking super simple: On Okcoin Earn you can literally get from cash to staking in just a few clicks – or tabs, now that Earn is available on our mobile app. Note: Only the latest version of the app offers access to MIA stacking so don’t forget to update it!
Here’s more about stacking with Okcoin:
- No fees. Contrary to most competitors, there are no fees on Earn. You get to keep 100% of the stacking rewards.
- Very low minimum amount. The minimum stacking amount is 50 MIA ($0.75 at the time of launch) and, no, there’s no maximum stacking amount.
- Flexibility. You can choose between stacking your MIA for one cycle (approximately 2 weeks) or 12 cycles (approximately 24 weeks).
- Bi-weekly payouts. Rewards are paid every two weeks in STX which can then be stacked again to earn daily stacking rewards in bitcoin. Learn more
MiamiCoin stacking FAQ
When are MIA stacking rewards paid?
We deliver the rewards to your Okcoin account as soon as we receive them, at the end of each stacking cycle (approximately 2 weeks).
How is the potential APY estimated? And how can they change going forward?
We’ve used the rewards generated in the first MIA stacking cycle to estimate the next cycle’s potential APY. The prices of MIA and STX, and the amount of generated rewards are the largest drivers of the resulting APY. The APY will change going forward and Okcoin does not control the terms of the offer or the resulting generated APY.
When can I withdraw my stacked MIA?
To help secure the network, MIA tokens need to be stacked for the duration of an entire cycle. The stacked tokens can only be withdrawn at the end of the cycle, not before.
What are the different stacking cycle lengths?
You can stack for either 1 cycle (approximately 2 weeks) or 12 cycles (approximately24 weeks) or any combination of the two options (start with 1 cycle and then try a 12 cycle period). For now there are no other options.
Why stack MIA for 12 cycles instead of 1?
If you stack MIA for 1 cycle, you’ll be unable to participate in consecutive stacking cycles: You’ll have to skip one stacking cycle before participating again. If you want to earn rewards continuously throughout a longer period, consider stacking for 12 cycles (approximately 24 weeks).
How to stack MIA on Okcoin Earn?
1. Go to our Earn page
Head over to Earn. Find MIA in the list of offers, and click Deposit.
2. Choose how much and how long you want to stack
Choose the number of MIA tokens you want to stack and click Continue. If you don’t own as much as you’d like to stack, click Buy to buy more MIA. Choose the number of cycles you want to stack for. Click Continue to see an estimate of the rewards you could earn by stacking.
3. Confirm your deposit
Review the amount of MIA you’re about to stack and an estimate of the rewards you could earn. Click Back to change your order or Deposit to confirm it.
4. Earn rewards
When the deposit is confirmed, you’ll start seeing the staking rewards you’re earning per cycle.
*Estimated APY rates are not guaranteed and may change without notice. Your assets in Earn are not covered by insurance against potential losses, nor are they subject to FDIC or SIPC protections. Okcoin does not provide investment or asset recommendations. Please consult your own investment/tax professional regarding your specific circumstances and objectives. Okcoin is not engaged in the offer, sale, or trading of securities. For more details, please refer to Okcoin’s Earn Terms of Service, which may change without notice.
