IOTA betting round 5 starts: How to bet MIOTA for ASMB for the next 90 days
- Pre-staking for MIOTA has already started and will last until February 11, after which the ASMB token reward distribution will begin.
- Users can participate in MIOTA staking through the Firefly wallet. Read the step-by-step guide below to know more.
Earlier this week, the IOTA Foundation concluded Round 4 of MIOTA’s effort for Assembly tokens (ASMB) offered as rewards. According to the latest announcement from Assembly on Wednesday, February 8th, Round 5 of MIOTA staking has already started and distribution of ASMB reward tokens will start as early as February 11th.
The 5th strike round $MIOTA to $ASMB starts NOW, 8 February 2023, at 15.00 CET! To participate, you need version 1.7.1 of @fireflywallet. Follow our step-by-step guide👇https://t.co/3WsV5StFPN
Now sit back and relax as the rewards begin to drop on Saturday, February 11 at 15.00 CET 😎. pic.twitter.com/J2Kb2Y9ZBg— Assembly (@assembly_net) 8 February 2023
There will be a three-day pre-bid period from now until February 11th. Since this Saturday, a 90-day staking period for receiving token rewards will start and will continue until May 12, 2023.
According to the predefined structure, 20% of the entire supply of Assembly tokens will be distributed as ASMB rewards to the IOTA players. In order for users to participate in the staking process, they must have the latest version 1.7.1 of the Firefly wallet. In addition to allowing users to participate in the latest staking round, the Firefly wallet will display the total number of tokens distributed in the previous staking periods. Moreover, it will also allow users to track current token rewards.
As said, the three-day pre-bid period goes live between February 8th and February 11th. Once the pre-staking period is over, users will start receiving rewards in their wallets for the next 90 days.
For every MIOTA token staked, users receive 0.000001 ASMB every 10 seconds over the 90-day stake period. To receive the airdrop, each staked wallet should have a minimum of 1.0 ASMB.
Guide to Staking with Firefly Wallets
The first thing users need to ensure is that they have installed version 1.7.1 of the Firefly wallet.
- Log in to your profile by entering your pin and navigate to the staking tab. Using the Balance Finder, users can view their balance from previous betting periods.
- Users will then see two options – either “pre-stake” or “stake your tokens”. Each wallet belonging to a user profile should also be staked separately. After marking their IOTA tokens for staking, users will receive a transaction with attached metadata indicating that they agree to stake the marked funds.
- To stake a wallet, users only need to press the “stake” button. Once the user starts betting, they don’t necessarily need to keep the app open to receive the airdrops.
- When the user presses the “confirm” button, firefly will issue the special bet transaction. Once the transaction is confirmed, the user interface will update to show that you are now ready to bet.
Even after the pre-staking period, users can continue to participate in MIOTA staking. Only that the user will not get the maximum benefit from a 90-day betting period.
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Users can also send their staked tokens from a staked wallet at any time. But in this case, they have to re-stake all remaining tokens manually. If users try to send tokens that they have already staked, Firefly will issue a warning in this case.
MIOTA Crypto is currently trading down 4.24% at a price of $0.23. In the recovery of the crypto market since the beginning of 2023, MIOTA has participated and is currently up 40% so far this year.
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