❓FAQ
You'll find the answers to most of your questions here! If something is not yet answered, reach out to us on our Discord.
Where are my KCS tokens when I stake?
When you STAKE your KCS, sKCS.io automatically spread their delegation among the top-performing validators that actively participate in KCC decentralization.
You will receive ' staking KCS' (sKCS) tokens back, it is recommended that you click the "Import token into wallet" button on the 'staking page' to import sKCS into your wallet.
sKCS can be unstaked to receive your KCS tokens back, plus rewards. sKCS increases in value every epoch relative to KCS.
How do I get my staking rewards?
sKCS represents your staked KCS and your rewards from KCS.
You do not need to claim your rewards, sKCS you holds enables you to withdraw more KCS when you unstake sKCS.
Are staking rewards staked automatically?
Staking rewards are compounded automatically into the staked KCS.
Can I unstake my sKCS at any time?
You can unstake your sKCS at any time. However, default sKCS unstaking period takes around 3-6 days to process, the timeline entirely depends on the KCC node staking.
Everything is transparent. After applying for unstake, the amount will be shown in ‘Pending Amount’ and you can withdraw KCS once the mount goes to ‘Available Withdraw Amount‘.
How can I use sKCS?
The sKCS token will have a range of use cases in the KCC ecosystem. They allow you to access DeFi market while enjoying your staking rewards and helping the network. For example:
Borrowing/Lending - sKCS can be used as collateral or borrowed on multiple platforms.
Liquidity provision -
sKCS/XXX pools - These pools will be subject to impermanent loss but will allow you to provide liquidity on a large number of pairs.
Trade on DEXs - sKCS is available on most decentralized exchanges and can be traded for other crypto tokens. Remember, by trading your sKCS, you also trade your accumulated rewards.
What fees does sKCS.io charge?
The fee structure of sKCS.io is as described below:
Commission
sKCS.io has an ongoing management fee to support further product development. It is automatically taken from your staking rewards and represents 10% of your rewards.
Eg. If you have 100 KCS staked for 1 year with a staking return of 5%, you would have earned 5 KCS with your rewards. sKCS.io will takes a 10% commission on those rewards each epoch, amounting to 0.5 KCS and you are keeping 4.5 KCS of the reward.
Therefore, you can withdraw 104.5 KCS including 100 KCS principal and 4.5 KCS rewards.
How can I get sKCS?
There are different ways of obtaining sKCS:
Stake KCS and get sKCS. This is the simplest way and has no fees.
Trade sKCS on secondary markets (centralized or decentralized exchanges (coming soon). Please keep in mind that in this case you are paying trading fees.
Does sKCS have the smart contracts audits?
sKCS.io is the most reliable liquid staking protocol built on KCC, and our smart contracts have been audited by BlockSec.
Read the audit report: https://github.com/stakingkcs/skcs/blob/master/doc/blocsec-audit-report.pdf
Does sKCS.io have governance tokens?
First of all, sKCS is not our governance token, sKCS is the proof of your staking and staking reward.
sKCS.io's governance token is being planned, don't forget to follow our official social media account to keep up with the information.
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