Odaily News Space and Time announced the launch of the Genesis Validator Rewards Program. Participants must stake SXT within 14 days of the public mainnet launch. The stake must be maintained for 9 months. If you cancel all or part of your stake before the end of the 9-month period, you will no longer be eligible for rewards under this program. You will still receive standard validator staking rewards (estimated annualized rate of return of 8%), but will not receive the adjusted program rate of return. After the 9-month period, eligible participants will be able to connect to the smart contract, verify their staking history and claim the output adjusted by the protocol. Eligibility verification will use SQL proofs, Space and Time's on-chain query technology to read the Ethereum historical state.
The Genesis Validator Rewards Program has a cap of 150 million SXT, or 3% of the total token supply. Once 150 million SXT are staked into the program, no additional participants will be accepted, even within the 14-day period.