In today’s Article I’m going to show you how to perform the delegation Exercise especially now that the mainnet and trading of CORE is already live. A lot of people have asked me about these Exercise but I still want to Emphasize on it.
The mining of core has ended and trading activities has begin on CEXes. Now, the only way we can acquire core is by buying from those who already have mined cores “ core holders” or delegating.
The delegation mechanism is vital to the purchase of cores as is trading is live and is of the utmost importance.
What is delegation?
Many people are confused as a result of this. I’ll use a comparable example to ensure your understanding. It’s similar to a fixed deposit account at your typical commercial bank, for instance, where you deposit a specific amount of money without withdrawing it and receive daily, monthly, or annual rewards, interest, or a percentage of your deposit. Do you now understand it? Good . Let’s move on. The method used in Delegation of Core is the same.
When you delegate core, the APR and commission percentage are extremely important since they define how much profit you’ll make “daily, weekly, monthly, or yearly” for a long time, like 81 years. You can verify this by using the Satoshi App; read the white paper to have a better understanding.
When you delegate your cores you receive your rewards . At your first delegation you receive your first reward at 48hrs After your delegation then subsequently you begin to receive your reward every 24hrs Depending on the total number of core you have delegated.
You can decide whether to sell your COREs as the trade is on, but it is recommended that you withdraw a larger percentage and assign them so that you can benefit from the profits for the work you have delegated.
Popular Question: when core is been delegated does it mean the number of core delegated is gone?
Answer: NO! The delegation process also has a provision for you to undelegate the core you have delegated.
What is Core DAO?
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem’s history and an even greater excitement for Core’s role in its future.
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