Important KLV Unstaking Announcement Update

Following community feedback, Klever has decided to remove the 7 days unstaking period for staked KLV after April 9.

Towards becoming a layer one blockchain, we must ensure the security of the network. By securing a large amount of KLV, the network becomes safer and more reliable for all users. At the same time, the unstaking of KLV is a crucial part of the migration process to the Klever Blockchain Mainnet.

The unstaking period of staked KLV after April 9 up until April 24 will be 1 hour, instead of 7 days.

After April 24, the KLV staking contract will be paused, removing the possibility to withdraw and stake.

Please make sure to unstake and withdraw your KLV before April 24!

If you were unable to unstake your KLV before April 24, please submit a support ticket and the Klever Foundation will reimburse you after 30 days.


FAQs

  • What happens to my KLV if I do not withdraw them from the current contracts before April 24, 2022?
    • After April 24, 2022, the KLV staking contract will be paused, removing the possibility to withdraw and stake in the current APR contract. 
    • If you have not unstaked your KLV by April 24, you will need to contact support at support.klever.io and you will get reimbursed the amount of KLV staked after 30 days by the Klever Foundation.
  • What happens if I don’t unstake my KLV before KleverChain goes live?
    • The KLV that you have previously staked in all contracts is being paused and locked in that contract. Please withdraw your KLV before April 24, 2022.
  • What happens to my current APR contract once the new community-approved contract goes live on April 25, 2022?
    • On April 24, the KLV staking contract will be paused, removing the possibility to withdraw and stake. You will also NOT receive any rewards from the old staking anymore.
  • Should I stake my KLV on 25 April? Or I can still stake any time during the 3 months?
    • You can stake at any time, but the APR will be computed based on the time it is locked, i.e. from April 24, 2022. For instance, if you stake on May 24, 2022 then you will receive only ⅔ of the total APR.
  • If I stake 10K KLV on May 7, 2022, will I still get 1 KFI at withdrawal?
    • Every 10K KLV staked in the APR contract will get 1 KFI. If you stake 10K KLV at 100% APR for 3 months, you get 2.5K KLV + 1 KFI after claiming. The minimum staked KLV to also receive KFI is 10K KLV. After 10K KLV, the amount of KFI is proportional based on the total amount of staked KLV.
    • If you stake 15K KLV for 3 months, you will get 3750 KLV and 1.5 KFI, since for KLV and KFI the rewards are proportional.
    • If you did the 10K KLV, for 2 months, you will get only ⅔ of the rewards (1666KLV + 0.66KFI).
  • How exactly will I receive my KleverChain KLV once Mainnet goes live?
    • If you have not staked the KLV in the new APR contract then you can swap your old KLV token to the new Klever Coin (KLV) minted on KleverChain in Klever Wallet Swap.
    • If you have staked KLV in the new APR contract you will receive the KleverChain Mainnet KLV at the address you need to provide once you claim the tokens, after the staking period has concluded. This address is the KLV Main Account address.
  • How do I get the new KleverChain Mainnet address?
    • During the new staking contract, there will be an update of the Klever Wallet app which will have the KleverChain Mainnet KLV added. With this update, you will have a new KLV Main Account added to your wallet. This wallet address is what you can use for claiming the new KleverChain Mainnet tokens after the staking contract has ended. 
  • If my KLV is in a different wallet or on a different exchange will I benefit from the Migration APR contract?
    • No, it must be stored or staked in Klever Wallet.
  • What happens to my KLV that is stored on other exchanges like Kucoin etc?
    • The pre-staking contract does not affect the non-staked KLV (if they are on exchange or wallet). But, when KleverChain launches, users have to swap them inside Klever Wallet or stake them in the new APR contract.
  • How much Tron does it cost to Unfreeze my KLV?
    • The network fees to unstake and withdraw your current staked KLV is at a maximum of 40 TRX.
  • When you say pre-staking lock and duration is 3 months, can we still buy more KLV during that time?
    • Anytime, yes! Preferably store it in Klever Wallet and stake it for extra rewards
  • Once the new contract goes live is it wise to still buy KLV and where should we buy it from
    • Preferably in Klever Wallet, but the same place you are buying KLV now would also be fine.
  • Must I take my KLV off Klever Exchange as well?
    • Not required, but if you want to partake in the migration contract starting on April 25, 2022, then your KLV must be stored and staked in Klever Wallet.
  • What happens if I stake before April 25, 2022?
    • All current APR contracts expire on the 24th, do not stake anything before the new contract initiates on April 25, 2022. The best course of action is to unstake your KLV a few days before the 25th.
  • I was not able to unstake and withdraw my KLV before April 24, 2022, is it lost?
    • In normal circumstances, yes, but in this instance please submit a support ticket at support.klever.io and the Klever Foundation will reimburse you after 30 days with your KLV.
    • Current APR generated between April 17 and 24, 2022 will be null and void.

How to unstake KLV in Klever Wallet


Understanding 100% APR for KLV Staking

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Disclaimer: This article is for informational purposes only. The information does not constitute an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Klever.Finance does not provide financial, tax, legal, or accounting advice. There is no responsibility on the part of the company or the author for any loss or damage arising from or related to the use of or reliance on any content, goods or services mentioned in this article.

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