most of the people are on binance, like me, and would like to stak to increase the speed of completion of the mainnet and also receive fx, think you can get in correlation with binance, have a chat with us and start an address of staking for pundix, like “ada” cardano does, or is it up to binance to accept? or is it just technically impossible?
Hello, while we’ve had previous distributions of tokens in which exchanges participated, this one is slightly different. It’s not us who sends the tokens directly to someone, there’s a smart contract that has to be called in order to release the tokens, so I believe this would also be quite impossible for exchanges to do.
The purpose of staking activities is to help our community to become familiar with the whole decentralised network and environment, hence the whole staking smart contract and token (ERC20) will be running on the most popular network — Ethereum network.
Unlike centralised network, every action in the decentralised network requires ‘gas’ to fuel the transaction or request.
For example, transferring token from wallet A to wallet B; sending token A to smart contract B for staking; requesting /claiming reward token from smart contract A, etc.
Basically every transaction needs ETH as a gas fee to perform the request, in layman’s terms, every action/request in a decentralised network costs money.
The quote above comes from the March Hash Out