Hi - During KILT's move from a Kusama to Polkadot parachain this weekend, the block production stopped for approx.
04 Oct 2022, 15:24
Hi - During KILT’s move from a Kusama to Polkadot parachain this weekend, the block production stopped for approx. four days and staking rewards were paused until the chain resumed yesterday, Monday 3 October.
For the first year of KILT that started in late September 2021, this reward is 8% then it decreases to 6% for the second year. (Years are measured in block time, not days.) As a result of the downtime, four days will be added to the first year at the 8% reward rate. This changeover will occur approx. two months from now in early December, depending on block time.
From the point of view of annual percentage yield (APY), over the first year (calculated in blocktime) since KILT launched, the expected reward for a delegator staking 100 KILT Coins over this first year since launch was 8 KILT. This remains the same, but the year is now approx. four days longer.
A reminder:
The delegator rewards are built into KILT’s very low inflation rate (starting at approx. 5% and falling to below 1% after 6 years) to support the sustainable and long-term growth of KILT’s ecosystem.