FLOW Trading And Staking Now Available to US Residents via CoinList

The team at CoinList notes that they’re pleased to confirm that beginning on October 16, 2021, FLOW trading and staking is available to US residents via CoinList, CoinList Pro, and the CoinList mobile app.

FLOW is a proof-of-stake blockchain that rewards network participants for helping to secure the blockchain through staking. CoinList will facilitate staking for users, and Bison Trails will be acting as the delegated worker for FLOW staking on CoinList.

Stake FLOW and earn rewards

In order to stake FLOW via CoinList, you need to deposit FLOW tokens into your staking account. Deposits will start earning rewards approximately 7 days after the period begins. Withdrawal requests are handled at the end of each period and will be “distributed to your wallet after it is unbound from the protocol (7-14 days),” the announcement noted.

CoinList takes “an 8% fee on the rewards earned,” the update noted while adding that your funds and rewards will “remain locked in the staking account until your withdrawals are completed.”

For Community Sale and Dutch Auction participants

As of 15:00 UTC on October 16, 2021, newly unlocked FLOW token holders are “able to access, stake, and trade their FLOW.” Newly unlocked token holders who “stake at least 35% of their total locked FLOW for 3 months starting in October will earn an additional CoinList Karma boost,” the announcement noted.

The update also mentioned that 15:00 UTC had been “the target time for unlocking FLOW,” and that CoinList “opened transaction requests before 15:00 UTC in order to get ahead of the curve and process transactions in a timely manner.” Given significant congestion, however, “withdrawals on FLOW and other assets may be delayed,” the update confirmed.

CoinList added:

“We’re incredibly excited to make FLOW available to our US community.”

As noted by CoinList:

“The rise of NBA Top Shot, the record-breaking product that turned Flow into one of the fastest growing blockchains in the world, marked the beginning of a huge surge of mainstream interest in NFTs and across crypto. With over one million registered users now and nearly one billion USD in sales, NBA Top Shot proved that mainstream consumers are eager to engage with user-friendly blockchain applications.”

The CoinList team also mentioned:

“Flow’s ecosystem partners have captured that momentum in a bottle. Organizations such as the NFL, La Liga, and the UFC have partnered with Flow to list their digital collectibles on the Flow network. In addition, Flow NFTs will soon be live and tradeable on OpenSea, the largest NFT marketplace in crypto.”

Flow is leading the crypto and blockchain/NFT space in number of NFT secondary sales, with more than 10 million NFT trades and 50M blockchain transactions “to date.” By comparison, Axie Infinity has managed to handle around 6M and Ethereum has settled approximately 3M NFT trades.

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