What is Polkadot staking?
Polkadot is a multichain protocol connecting multiple specialized blockchains into one network. It can process transactions in parallel meaning that performance and cost can be reduced significantly compared to other blockchains.
You can stake your DOT to secure the network and earn a reward in return for your contribution.
How do I earn DOT rewards?
After you deposit your tokens, they will be staked and begin to earn rewards at 7:00 PM PST. You can redeem at any time. When you withdraw, we will add your deposit and accumulated rewards to your account automatically at 8:00 PM PST.
When can I redeem my staked DOT?
You can redeem your staked DOT at anytime. After redeeming, it can take up to 24 hours for your DOT to be returned to your account. okcoin processes redemptions once per day at 8:00 PM PST.
What are the fees and minimum for staking DOT?
There are no fees for staking your DOT with okcoin. The minimum staking amount is 1 DOT.