Until now, in order to get staking rewards with ONT and access the lucrative Ontology foundation staking rewards, Ontology holders were required to stake at least 500 ONT. However, a growing number of users of the Ontology Blockchain are now staking and earning foundation rewards with only 1 ONT. Ontology debuted a new blockchain governance contract built by one of its newest block producers, Sesameseed. Other changes this new method of staking enabled are:
- Rewards for staking start within 24 hours of staking. This eliminated waiting for rewards to start until the start of the next block cycle.
- Daily compounding of rewards. WIth daily compounding, rewards earned are significantly higher over time than simply earning a one time reward.
- The ability to earn the multichain rewards token SEED. SEED is a pegged token and its redeem value automatically goes up over time as it is held. SEED also earns rewards from node operation on multiple blockchains daily.
Andy JI, the co-founder of Ontology, wrote in a recent AMA on Telegram -
“Ontology's partnership with Seseamseed enables the community to better engage in the ecosystem.”
Previously, the community-first blockchain governance organization Sesameseed has been best known as the highest-voted Super Representative on the TRON Network. Now, Sesameseed has partnered with the Ontology Network to bring a community voice to Ontology’s proof-of-stake system.
“Community is the key to the success of the project and an important step towards our goal of decentralization. We hope we can work with Sesameseed to serve the community better, and create more good dApps and tools to serve both our communities,” said Andy JI, co-founder of Ontology. "Ontology's partnership with Sesameseed enables the community to better engage in the ecosystem.”
This new governance contract is quickly gaining adoption through some of the most popular Ontology w...