Ride the Staking Wave for Assembly

• The IOTA Foundation has commenced the sixth round of staking for Assembly Tokens (ASMB), lasting for 90 days, where 20 percent of the ASMB supply will be distributed to stakers over the next two years.
• Users can stake ASMB tokens through the Firefly wallet, with rewards of 0.000001 ASMB per MIOTA staked every 10 seconds.

Last week, the IOTA Foundation announced its decision to kickstart the sixth round of staking for the Assembly Tokens (ASMB). The latest staking round for the ASM tokens commenced on 19 May and shall continue for a 90-day period up to 17 August 2023.

This is the sixth staking event for the Assembly Tokens (ASMB) wherein 20 percent of the entire Assembly tokens supply has been allotted to IOTA stakers, set to be distributed over the next 24 months.

Users can participate in the staking of the ASMB tokens directly through IOTA’s native Firefly wallet. However, they should be running the 1.7.2 desktop release of the Firefly wallet. Along with participating in the latest staking round, the Firefly wallet will also display the total number of ASMB tokens distributed during the previous five staking periods. Additionally, users can also track the current token rewards.

The 90-day staking period started last week on May 19. IOTA token holders participating in the program will be rewarded with staking rewards in their wallets. Each MIOTA staked will earn IOTA stakers 0.000001 ASMB every 10 seconds (equivalent to one microASMB) for a maximum duration of 90 days. To be eligible for the airdrop, each staked wallet must accumulate a minimum of 1.0 ASMB (equivalent to 1,000,000 microASMB) during this period, excluding rewards from previous distributions.

Steps to Staking ASMB Tokens Using the Firefly Wallet

First and foremost, users need to ensure that they have installed version 1.7.2 of the Firefly wallet from firefly.iota.org. When IOTA tokens are designated for staking, a transaction is sent to the user’s wallet, including metadata that signifies the intention to stake the designated funds.

The staked funds from a specific wallet are sent to an address within the same wallet, necessitating individual marking of tokens for staking in each respective wallet. Users need to follow the four steps below for staking the ASMB tokens via the Firefly wallet:

1. Users are required to enter their PIN to log into their profiles and navigate to the staking tab. In case the balance from previous staking periods is not visible, they can utilize the Balance Finder feature located under Settings.
2. Within the staking tab, users have the option to either “pre-stake” or “stake their tokens,” depending on the specific period they are accessing their wallets. This differentiation applies to both the three-day pre-staking period and the 90-day staking period.
3. To stake a wallet, users simply need to select the Stake button. It is important to note that once the staking process has commenced, the app does not need to remain open for users to receive airdrops.
4. Once users confirm their selection, Firefly initiates a special staking transaction. Upon confirmation of this transaction, the user interface promptly updates to reflect the readiness for staking.

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