Fetch.ai Upcoming Stake Swap Program
The Fetch.ai staking contract is being migrated to mainnet. As part of that process Fetch.ai will be using the existing Ethereum staking contract to migrate FET ERC-20 tokens across the token bridge to mainnet
On the 15th of July, 2021, Fetch.ai Stake Swap Program will be launching. This will give FET stakers who migrate to mainnet an improved reward of more than 13% per annum, far lower transaction fees, a more responsive network and an improved user experience.
The contract will be paused at around 10:00 UTC on the 15th of July at a specific block number that will be announced by the Fetch.ai foundation at 12:00 UTC on the preceding day.
The reward rate on mainnet will depends on the number of tokens that are staked. The annual rate will be approximately 13% if the quantity of tokens staked remains at the current level of around 220 million FET.
With this update, FET staking will continue on Ethereum but with a different staking contract and with a slightly lower annual reward rate of 4% per annum.
ABOUT Fetch.ai
Fetch.ai is building an open access, tokenized, decentralized machine learning network to enable smart infrastructure built around a decentralized digital economy
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