Token Recipient FAQs
The following providers will be available for FLOW token holders in the coming weeks: CoinList (the default option for the delivery of FLOW from the public sale), Kraken (not available for US/Canada), Finoa, Blocto, and Ledger (pending final app store approval). Most providers will open address generation starting the week of October 19: you will receive instructions on how to generate your new FLOW account address and submit to CoinList for token delivery.
FLOW token holders are not required to run nodes. However, even locked tokens are eligible for staking and delegation, and we encourage any token holders who don't run a node to delegate their locked tokens to a trusted node operator in order to receive staking rewards.
Flow token holders have their full FLOW balance available for staking and delegation. The unlocked balance will come from staking rewards, this amount is freely transferable and can be re-staked to earn further rewards.
FLOW tokens from the CoinList Community Sale have a two-year lockup period, with 50% of the tokens unlocking after one year. Locked tokens cannot be transferred but they are eligible for staking and delegation during the lockup period. FLOW tokens from the CoinList Auction tokens have a one-year lockup period. They are also eligible for staking and delegation during the lockup period. More info: https://coinlist.co/flow.
Staking rewards are freely transferable as soon as they are claimed.
There are no fees for storing and staking your FLOW tokens with CoinList. If you choose to stake or delegate your tokens with CoinList, 8% of the associated staking rewards go to CoinList, with the remaining being credited to your account.
Staking / delegation support is being implemented by Flow custody and staking partners as we speak. No matter which custody or staking provider you choose, you will receive at least two weeks' notice to stake / delegate your tokens before staking rewards begin to accrue.
Rewards are paid at the end of each “epoch” (a time period encoded into the protocol, equalling one week), to all node operators and their delegates who locked their tokens in at the beginning of that epoch. The first epoch will take place in mid-November. We will provide additional updates about how to participate in staking and delegation well before the first epoch’s deadline.
There are a number of teams currently running a node on the Flow network including companies like Samsung, Ubisoft, and T-Systems (a subsidiary of Deutsche Telekom); non-profits and academic institutions like Cal Berkeley, Yonsei University, and the Andreessen Horowitz Cultural Leadership Fund; as well as crypto funds and infrastructure providers including Bison Trails, StakeFish, Figment Networks, and 50+ others. More details coming soon.