Top crypto exchange Kucoin Exchange has announced the launch of a Soft Staking Program for IOST. Through this program, KuCoin will stake its users’ funds on the IOST mainnet. Utilizing this service, allows KuCoin to make use of individual users IOST asset held in their IOST Kucoin wallet on behalf of them for IOST mainnet staking. KuCoin will adjust the staking with respect to the total token value held by a user and use information such as withdrawal records from the wallet’s database. The service will be used to help users gain the maximum benefit from IOST, without affecting IOST token withdrawal. The revenue will be distributed according to the amount of tokens put into the service and tokens can be withdrawn at any time without terminating the staking.

However, Kucoin warned that the withdrawal will be duly processed based on a withdrawal sequence, therefore the withdrawal of IOST will be strictly processed based on the queue up sequence and queue jumping or fraud operations will be strictly prohibited.

IOST Soft Staking Official Rules – Cash Back Investment Program for Internet of Services Token (IOST) Holding



To maximize the benefits for users holding IOST on the platform, KuCoin has launched the IOST Soft Staking Program.



Official Rules:https://t.co/02JEzL3anf@IOStoken pic.twitter.com/eCRhDiuDs7 — KuCoin Updates (@KuCoinUpdates) July 1, 2019

The Program service from KuCoin while it looks convenient, it’s up to users discretion if they wish to use it, with Kucoin stating in what looks like an operation authorization that “Users who reluctant to, unable to or otherwise refuse to participate in the Program or accept the Service provided by KuCoin, please withdraw any and/or all his/her IOST assets from his/her respective KuCoin account before 00:00:00 on July 4, 2019 (UTC+8) (hereinafter referred to as “Refusal Deadline”). Users who reluctant to, unable to, refuse to or otherwise fail to withdraw IOST before the Refusal Deadline are deemed to have agreed to participate in the Program and expressly authorize KuCoin to make use of their respective IOST assets for Internet of Services mainnet staking.”

It definitely appears to be a very user-friendly service, with a lot of power given to users. This program will increase the number of users benefitting from IOST Staking Program which ranks the highest among PoS token according to statistics from StakingRewards.com which rates IOST Staking Yield at 14.67%.

More Details on Kucoin IOST Soft Staking Program can be read here

