Frequently Asked Questions

How stakings works
What is staking?

Staking means participating in a consensus protocol according to the number of crypto assets (crypto currencies) that the user holds. The consensus protocol is the process of checking and approving data and queries on the Blockchain. The mechanism of performing this work using stake is called Proof of Stake (PoS).

Information for each stakeable coin can be found in the Web Wallet, "Staking Info" page.

How does staking work?

Users can participate in staking (delegation) by making the use of the "rights to stake" which each tokens that user holds. The process depends on the Blockchain. By participating, users can receive rewards. Note that the user is simply giving permission to utilize the "rights" and not permission to the token itself. The token itself while staking, still exists within the wallet address that user holds and the token is never sent out of the wallet.

What is a validator?

If an individual user can partake in staking by direclty connecting to Blockchain, most Blockchain systems would quickly become overloaded. Therefore a system called a "Validator" is necessary. The Validator acts like a "voting box" and all the votes (rights) of the users are sent through from this voting box to the Blockchain. Users can decide which validator to stake through. Moonstake provides the service of Validator and our wallet has access to our validator.

From where is the reward issued?

Staking rewards will be sent from the Blockchain. However, the way to receive the rewards will differ depending on the Proof-of-Stake mechanism of the coin. In some cases, it is sent to the use, directly from the Blockchain without passing through the Validator, and in other cases, it is sent to the Validator and Validator will distribute it to its delegators (users).

Why can the staker receive rewards?

This is a reward from the Blockchain for users who participated in the Consensus Protocol. The funds comes from the gas fee that Blockchain collects and/or from the token that Blockchain newly issues.

What is the validator commission?

In order to manage the validator, the validator performs server set-up/maintenance, monitors staking performance, optimization and development related to such. For this service, the Validator receives a commission/fee from the users when the user is issued a reward from the Blockchain.

What does it mean by "unstake"?

Some tokens like COSMOS/IRIS have a system where the tokens cannot be moved out from the wallet while they are actively staked. Therefore, a function to "unstake" is necessary before such tokens can be moved out of the wallet. In such systems, in general, users can decide the amount to be unstaked. How many times as user can unstake at the same time can vary upon each Blockchain.

What is "lock period"?

Some tokens like COSMOS/IRIS do not return the tokens that has been unstaked immediately. The period in which Blockchain stops the unstaked tokens to be sent out of the wallet is called "locked period". After unstaking, user must wait for the lock period to pass until such tokens can be used to sent out of the wallet. For example, COSMOS have 21 day lock period.

Is it safe to stake?

In PoS system, tokens that user hold will not move out of the wallet when staked. The fact that the token itself does not move out of the wallet shows the safety of staking. As long as the user is using a decentralized wallet like Moonstake Mobile Wallet or Web Wallet, even if the wallet operator stops the operation, the wallet can be recovered using another wallet provider as long as the user holds the Backup Passphrase. Moreover, even if the validator terminates the operation, since the user is not transfering the token itself to the validator, staked assets will also not be lost from your wallet.

About Moonstake Wallet
Can WebWallet and MobileWallet be connected/synced?

User ID and Password of Web Wallet and Mobile wallet is synced. In order to sync the wallet itself so that same wallet can be shown in both Web Wallet and Mobile Wallet.

Download PDF instructions: Import Moonstake Web & Mobile Wallet (EN).pdf (1.2MB)

Does Moonstake hold the private key or backup passphrase of my wallet?

Moonstake Mobile Wallet and Web Wallet are both non-custodial wallets. As the operator of the wallet, Moonsatke does not hold any of the user's assets. As a decentralized wallet, both Private Key and Backup Passphrase can only be seen by the user with their ID and Password. Moonstake cannot access each individual user's wallets.

Why is the token list in Web Wallet and Mobile Wallet different?

Since the coding structure on both web and mobile is different, the system of send/receive and staking must be developed separately. As wallet provider, we do our best to have all of the same supported tokens on both wallets. We apologize for the delay in development.

Why are 2 passwords used on Moonstake Wallets?

1. User ID and Account Password (to log-in to Web Wallet, Membership of Mobile Wallet)

2. Spending Password to send/transfer/stake/add token etc.

The reason we have 2 separate Passwords is to increase the level of security for users. If there is only one Password utilizes (1 above), the assets inside the wallet can be stolen if a third party hacks the e-mail of the user. Because we have 2 passwords, such situations can be avoided.

What should I do when I've lost my password?

1. User ID and Account Password (to log-in to Web Wallet, Membership of Mobile Wallet)

2. Spending Password for send/transfer/stake/add token etc.

Account Password (1) can be reissued. Please go to wallet.moonstake.io and click on "Forgot password?" and go through as instructed.

Spending Password (2) can be restored if you have your your wallet Backup Passphrase. You can "add" a new wallet and "create wallet" and set new Password.

What shall I do when I lost my Backup Passphrase?

You can access to your backup passphrase as below.

Mobile Wallet: Settings -> wallet name --> Show Backup Passphrase --> enter Spending Password (2)

Web Wallet : manage wallet -> Show Passphrase -> enter Spending Password (2)

Why can't I see ADA on mobile wallet?

ADA is not supported in Mobile Wallet yet. It is still under development. We expect to be able to send/transfer/stake ADA in Mobile Wallet within 2

weeks. In the meantime, please use Web Wallet to send/transfer/stake ADA (please use chrome browser) (Aug 19, 2020)

Why can't I stake ONE from mobile wallet?

ONE staking function is not yet supported in Mobile Wallet. It is currently under development.

Why doesn't ADA work on Web Wallet when signed-in from Safari browser?

The ADA Shelly library does not support Safari browser, which means that we currently cannot support any transactions using ADA on webwallet when the user uses Safari browser. Please use other browsers when using Web Wallet (we recommend Chrome/Firefox)

New tokens that has recently been added by Moonstake are not showing up on my wallet

Tokens supported in Mobile Wallet and Web Wallet may be different. Please be aware. If you are already using the Web Wallet and newly issued tokens are not displaying, please log-out from the wallet, delete the cache of the browser and re-login. Old cache remaining on your browser can usually be the reason behind these bugs.

Transactions
I can't send tokens from Moonstake Wallet.
Please refresh your wallet balance. If the balance has decreased after sending, please go to a Blockexplorer to make sure that you have entered the corret wallet address. The time required to transfer varies with each token. Please have a look at the status of your transfer on a Blockexplorer as well. If you receive any error messages when pressing "SEND" even with the correct password, please contact our customer support.
I can't receive tokens in Moonstake Wallet
Please refresh your wallet balance. If it is still not shown, please go to a Blockexplorer to make sure that you have entered the correct wallet address.The time required to transfer varies with each token. Please have a look at the status of your transfer on a Blockexplorer as well.
Why there is a network fee?
Network fee is what the Blockchain requires, not Moonstake.
Staking with Moonstake Wallet
Why is my wallet balance decreasing after I stake?
What is shown as the wallet balance is actually the "transferable balance". The reason we show this is in order to show the user the amount of tokens that can be used at the specific time. A staked token is never moved out of your wallet (just not shown as part of your current balance).
Why does it take time to unstake my token?
This is a rule set by the Blockchain. There are tokens that does not have a Lock period such as ADA or TEZOS. The staking conditions varies with each token. Please consider the unstaking rules before staking.
Why do I have to press "claim rewards" in order to receive my rewards?
This is a rule set by the Blockchain. In order to "claim rewards", you will be responsible to pay the network (transaction) fee, so please be aware.
When I add tokens to stake or when I unstake, my claimable rewards became 0.
When you increase the amount of staking, or when you unstake COSMOS/IRIS, "Rewards" becomes 0 because with that transaction, the Blockchain automatically issues all "Rewards" that you have not claimed. In other words, you will receive the reward that you have not claimed yet into your wallet.
I'm not receiving any staking rewards.
The time period each Blockchain pays out rewards is different. For example for Tezos, you will not receive any reward for the first 20 days after you have staked. You can also check whether you have staked properly on each blockexplorer.
What is the difference between tokens that have an "unstake" function and tokens that do not?
The staking mechanism of tokens like ADA or TEZOS is that "as long as you have the asset within a wallet that is connected to validator, Blockchain will provide rewards" therefore the concept of "unstake" is unnecessary. In this type of token, you can send out partial or all tokens at any time while your wallet is staking. However, the staking mechanism of tokens like COSMOS or IRIS is that "tokens that are staked cannot be moved out of the wallet" therefore, it requires to be "unstaked" before you can send your tokens.
I can't find the "Claim Reward" button on staking page.
Some tokens do not require the user to "claim rewards" when staking. Such Blockchains will transfer the rewards directly to the user's wallet (ADA, TEZOS). Your reward payments can be confirmed in your transaction history.
About Moonstake membership system
What is the benefit of becoming a member?
Validator Fee will be decreased when you become a member. For more details, please have a look at our Web Wallet Profile page.
Can I become a Silver member from Mobile Wallet?
Mobile Wallet does not have a KYC system at the moment and is currently under development. Please go to our Web Wallet and complete our KYC application. Mobile Wallet can create Basic Member account (Same login User ID and Password with Web Wallet) and input your referral code.
How can I complete the KYC application?
Please log-in to Web Wallet and go to Profile (top-right) button.
I received a referral code/link and I already have a Moonstake account. What shall I do next?

For Mobile Wallet users:
Basic Member Register -> input referral code

For Web Wallet users:
Referral Code: after login, Profile --> My Account --> enter referral code
Referral Link: open the link --> login to webwallet from that page

Contact

Want to get in touch?  We’d love to hear from you. Here’s how you can reach us.

We operate in an industry built on trust.  This can only be achieved through communication and experienced support--from the first contact past your ten year anniversary.

Have questions about staking?  Our entire team receives specialized training regularly to ensure you’re receiving the best information possible.  We’re here to help!

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