Komodo holders gets 5% Active User Reward until the supply is capped at 200M KMD. The 5% reward starts accumulating after about an hour if you hold over 10 KMD in your wallet and locktime is set for the received transaction. It is very similar to PoS since you are "minting" new tokens. However, the difference is that your Komodo wallet does not need to be online. KMD's PoS is a hybrid zero footprint proof of stake that accrues reward based on
nlocktime. The only requirement is that you control your privatekey. That means that if you want to claim your 5% reward you should transfer your KMD from an exchange wallet to your personal wallet. In order to claim your accured reward, you just need to send all your funds to your same address or make any transaction. You can check if your address is accruing any reward after one hour or how much reward your address accrued using atomicexplorer.com Check Rewards page (the site may take couple of minutes to load) or dexstats.info Rewards Viewer which loads faster.
Note: You can accrue the 5% stake on any of the open-source wallets developed by Komodo Platform developers. If you store funds in an exchange or some 3rd party wallet you CANNOT claim reward. Make sure to check if you can claim reward using any 3rd party wallet. Reward is capped to 1 month. Which means, after sending a new transaction each time your address will stop accruing reward after 1 month. You need to claim the reward or send a transaction to start again. Please read and understand carefully each section of this article including Important Info section.
Requirements to Accrue Rewards
- You need to have minimum 10 Komodo in your address by 1 transaction that is about 60 minutes (~60 blocks) old. If you have multiple of utxo making a total balance of 10 KMD, your address will not accrue any reward. In this case, send all funds to self address to consolidate all funds.
- Verify that locktime for that transaction is set. You can verify this by searching with the txid in explorer https://kmdexplorer.io and checking the LockTime field and the value is set as unixtimestamp (in numbers, i.e.: 1545050262) and not 0. You can verify the timestamp using EpochConverter. Please note, If you use 3rd party wallet to send funds to your Agama wallet, often they don't set locktime. After receiving the funds into Komodo CLI wallet or Agama wallet, you need to send all the funds to self which will then set the locktime and your wallet will start accruing reward.
How to claim Reward?
You can claim 5% Komodo Active user reward by sending all funds to self address or any other address you control. When you send any outgoing transaction from your Komodo walllet you also claim any accrued reward. We recommend you to use Agama Lite mode for claiming reward as it sends existing funds and rewards to same address. Native mode may send your funds or reward amount in new change address under your wallet and under your control.
Here is a handy video tutorial that you can use - How to claim the KMD active user Reward in Agama
Which wallets I can use?
Always make sure to use latest release wallet. Please don't use any old version.
- Agama Desktop & Mobile (download link)
- Komodo CLI binaries (download link)
- KomodoOceanQT wallet (download link)
- Agama Web Wallet (don't use large amount of funds and make sure to read the warnings before using)
- Ledger and other 3rd party hadware or software wallets doesn't support Komodo rewards and using those you will not be able to claim and rewards will be lost
- New KMD coins are rewarded to users when they make transactions
- Reward is capped to 1 month
- Your wallet stops accruing rewards if you haven't used Komodo from your wallet for one month (coins haven't moved in one month)
- Total rate is ~5.1% per year if done monthly or more often
- Use Agama Lite mode or Agama Mobile if you don't like to have your funds sent to a new change address in your wallet while using native mode
You can calculate the amount of rewards you will gain by being active with varying levels of frequency at this link: KMD Reward Calculator