IRISnet (IRIS)

What is IRISnet

IRISnet is a blockchain infrastructure that serves as a communication relayer for other blockchains and their applications.

Proof of Stake

If you stake to the top 100 validators, you will get rewards from the blockchain. Rewards from the blockchain will be distributed to you.

Staking

You can choose the amount you stake in your wallet. The staked coin remains in your wallet but it will be locked and cannot be sent. Also, the wallet balance shows the number of coins that are not staked. If you want to send the staked coins, you will need to unstake them. (Refer to Unstaking section.)

Rewards

Rewards will be distributed per block. Blocks are generated approximately every 7 seconds (You will see that the reward in the wallet will increase). To receive the reward, you must claim the reward from the blockchain because it is not distributed automatically. Please note that you will have to pay a transaction fee to receive this reward. Also, if you additionally stake more IRIS or unstake IRIS, you will automatically claim reward in the same transaction and the accumulated reward will return to 0.

Unstaking

If you want to send an asset that is currently staked, you will need to unstake it first. The unstaking of your tokens will take a full 21 days before they become available, therefore you will not be able to send the tokens immediately. The period during which the tokens cannot be transferred is called the "lock period." Although you can select the amount to unstake, you can only unstake 1 time during the 21 days lock period.