According to the announcement, Elrond staking support begins on October 10 with distributions on the 15th of each month. Investors must hold 700 ERD to be eligible and snapshots will be taken hourly.
Elrond previously raised $3.25 million in an IEO on the Binance Launchpad at the end of June. The project is building a blockchain that is focused on providing security, efficiency, scalability and interoperability by employing two key elements: Adaptive State Sharding and a new Secure Proof-of-Stake consensus mechanism.
ERD is currently trading for $ 0.001729, giving the token a $12.4 million market cap.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.