Overall Details of the Staking Pilot:

Amount Eligible for Reward: 1000–5000 WAN

Participation Reward: 40 WAN per 1000 WAN Staked (4% of WAN Staked)

Total Staked Amount in Pilot: 4 million WAN

Bidding Period Starts: March 15 at 0:00 UTC

Bidding Period Ends: March 31 at 23:59 UTC

Staking Period: April 3 at 0:00 UTC and ends on July 3 at 23:59 UTC.

Post-Staking Period: The bidding amount will be released automatically and sent back to respective owners along with the staking reward between July 4 0:00 UTC and July 6 23:59 UTC

The Bidding Period

Bidding Timeline: March 15 at 0:00 UTC — March 31 at 23:59 UTC

Live Bidding Board: Click here to view the Bidding Period Leaderboard!

Bidding Checklist

Very Important Notes:

-WAN must only be submitted from any wallet for which the user holds the private key (e.g. Wanchain Desktop Wallet, Ledger/Trezor). Do not send WAN from exchanges such as Binance. This will ensure we can properly return your funds. If you send money from an exchange, you WILL lose your funds.

Supported Wallets you can Send from: Wanchain Wallet (desktop) MyWanWallet (web) WanMask (Chrome Plugin) Ledger and Trezor Theia Wallet (Please use “Private Key Wallet” to transfer WAN instead of “Platform Account”) Trust Wallet

-If you plan set up automated transactions, do not use smart contracts, only use scripts or else you risk losing your funds.

-When submitting your first bid, the first transaction sent to the bidding smart contract must have an amount equal to or larger than 1000 WAN, later transactions sent from same WAN address don’t have this restriction. If the first transaction sent to the bidding smart contract is lower than 1000 WAN, it will be rejected, and the transaction amount will be sent back to original WAN address.

Lottery

For those who are not selected in the bidding process, all unselected WAN addresses will be entered into a lottery to win participation reward. There will be one lottery completely open to all unselected addresses and another lottery for those who participated in the staking pilot interest form previously announced here. Winners of the lottery will see the prize in their account between April 1-April 3.

1. Total Open Lottery Prize = 3200 WAN

1st prize : 1 winner, 200 WAN

2nd prize : 10 winners, 100 WAN per winner

3rd prize : 100 winners, 20 WAN per winner

In total, there will be 111 winners and 3200 WAN for lottery prize (bidding users).

2. Lottery program for Interest Form Submissions: 10% of valid answers (56 winners)

1st prize : 1 winner, 200 WAN

2nd prize : 5 winners, 100 WAN per winner

3rd prize : 50 winners, 20 WAN per winner

In total 56 winners and 1700 WAN for lottery prize

The Locked Staking Period

Staking Period: April 3 at 0:00 UTC and ends on July 3 at 23:59 UTC.

The addresses that win the bidding period will have their WAN locked for 3 months. Please note that funds will be automatically sent back to the original address from which the user sent the original funds.

After the Staking Period:

Between July 4 0:00 UTC and July 6 23:59 UTC, the bidding amount will be released automatically and sent back to respective owners along with the staking reward.

Calculation of staking reward:

a. If total bidding amount equals or surpasses 5000 WAN, then staking reward is 200 WAN.

b. If total bidding amount equals or surpasses 1000 WAN and is smaller than 5000 WAN, then staking reward is 4% of total bidding amount.

Technical Support: techsupport@wanchain.org or this Reddit thread.

About Wanchain

Wanchain is a blockchain platform that connects isolated blockchain networks to enable decentralized transactions between them. Wanchain’s economic infrastructure enables cross-chain financial capability for distributed applications. Wanchain currently enables cross-chain transactions with Ethereum, Bitcoin, and ERC20 tokens. Going forward, we will continue to bridge blockchains and bring cross-chain finance functionality to companies in the industry. Wanchain has employees globally with teams in Beijing (China), Austin (USA), London (UK), Paris (France), and Madrid (Spain).

You can find more information about Wanchain on our website. Additionally, you can reach us through Telegram, Discord, Medium, Twitter, and Reddit. You can also sign up for our monthly email newsletter here.