Q: How do I add the Litentry chain to my wallet?
A: On the stake page, click the “Switch” button, and your wallet will automatically add the Litentry chain. If the wallet does not respond, you can manually add the Litentry chain using the following information:
- RPC URL: https://rpc.litentry-parachain.litentry.io
- Chain ID: 2013
Q: What are the new updates in Litentry’s staking feature in IdentityHub?
A: The newly launched staking feature in IdentityHub builds on the existing staking rewards from Litentry, with the addition of a new staking pool. The reward distribution algorithm in this new pool not only considers the amount staked but also incorporates an identity score-based algorithm. This allows active users to enjoy high APR returns even with a lower staked amount.
Q: Why did IdentityHub introduce a staking feature?
A: We want wealth to continuously flow to those who create value, and identity is the key to defining “those who create value.” Staking is the first scenario we wanted to explore. We believe that staking rewards should not be solely influenced by the amount staked; users who are beneficial to the project should also receive corresponding rewards. This update to the staking feature is our exploration of the scenario-based application of identity and demonstrates our commitment to the concept of “helping users gain more benefits through their identity.”
Q: Why can’t wallets with Polkadot addresses use the newly launched staking feature?
A: The current version of the staking feature only supports accounts with EVM addresses. To launch the staking feature as soon as possible while providing a better experience for more users, we prioritized serving users with EVM addresses. We will quickly iterate to support staking for different types of accounts in the future.
Q: Why are there two different APR values? What do they represent?
A: The first APR is the APR for the original Litentry staking pool, which is related to the staked amount and node selection. For more details, you can refer to the Litentry Staking Guide.
The second APR is for the IdentityHub bonus staking pool, which is related only to the staking score and staked amount.
Q: How do I cross-chain, unstake, or claim rewards?
A: You can refer to the Litentry Staking Guide for detailed steps.
Q: Why is my staking score different from my season score? How is the staking score calculated?
A: The staking score is a new scoring system independent of the season score. Unlike the frequent changes driven by the competitiveness of the season score, the staking score is more stable, calculating only the score of credentials without being affected by season inheritance scores or VC coefficient scores. Currently, the credentials used in the staking score are the same as those used in the season score, but in future versions, the credentials used for the staking score will be replaced, ultimately becoming different. This will better identify active users who are valuable to Litentry and IDHub, allowing them to earn more rewards.
Q: How are staking rewards calculated and distributed?
A: The original staking rewards are distributed every 6 hours and are automatically sent to the user’s staking account wallet. The new staking rewards are distributed every 7 days (50400 blocks). Rewards are calculated and distributed based on the APR at the time of distribution.
Q: How can I check the airdrop I received (Season 2 LIT Airdrop)?
A: After logging in with an EVM wallet address, click ‘Switch’ on the stake page to add the Litentry chain to your wallet, and you can check your LIT balance. You can also view the balance directly on the stake page. Since the new staking feature only supports EVM wallet addresses, if a user with a non-EVM address has already submitted a corresponding EVM address, our airdrop has been sent to the corresponding EVM address wallet account.
Q: Does a user participate in reward calculation during the unstake cooldown period?
A: In the original Litentry staking, users do not participate in reward calculations during the cooldown period. However, in the new staking feature, users do participate in reward calculations during the cooldown period.
Q: Why is the LIT Airdrop distributed on the Litentry chain instead of the BSC chain?
A: The purpose of this airdrop is to allow more users to experience our new staking feature. Therefore, we chose to airdrop LIT on the Litentry chain to save users the cost of bridging.
Q: Is there a lock-up period for LIT staking?
A: Currently, there is no lock-up period. We hope that more users can confidently try our staking feature.
