Finschia

As previously announced, new FNSA staking will be suspended from 23 August 2024 to facilitate smooth integration for the launch of the Kaia mainnet. All delegation and redelegation functions on FNSA wallets will be disabled, and staking rewards will cease three days later on 26 August 2024.

 

Together with the cessation of staking rewards, the unbonding time will also be reduced from 7 days to 1 hour to streamline the unstaking process for FNSA stakers. Do note that any unstaking requests initiated before the reduction of unbonding time will still require the full 7 days, so we recommend unstaking only after the change in unbonding time is in effect.

 

The exact timing of the unbonding change can be found by referring to the voting period for Proposal 33.

 

Suspension of New Staking and Inflation Schedule

Users staking FNSA are encouraged to refer to the following schedule to ensure a smooth KAIA token swap. Please refer to this guide for step-by-step instructions on how to unstake your FNSA.

 

• Suspension of New Staking: From 3:00 pm on 23 August 2024
• Suspension of Inflation: From 3:00 pm on 26 August 2024
• Reduction of Unbonding Time: From 3:00 pm on 26 August 2024
• FNSA to KAIA token swap service: From 3:00 pm on 29 August 2024

 

Important Notes

• Staking rewards will no longer be issued once FNSA inflation is halted.
• If unstaking is initiated before the reduction in unbonding time, the unstaking period will still be 7 days.
• The FNSA to KAIA token swap service will be made available on Kaia Portal.
• Swapped KAIA tokens can be deposited into Kaia Portal to receive new rewards.
• The times mentioned above are subject to change. We will provide advanced notice in the event of any changes.

 

Beyond the token swap, Kaia Portal is also designed as a one-stop destination for Kaia DeFi services where users can contribute to the Kaia ecosystem while earning high rewards in the process. More details will be provided at the time of the Kaia Portal launch.