In March / April 2011 Crypto Exchange,  Coinlist offered the first real chance for most people to purchase MINA in an ICO. Over 300,000 people registered on their website and on Apr 13th 2021 approx 40,000 people were able to purchase 2000 MINA worth $500 for the price of $0.25c each.

Many of this 40,000 decided to leave their tokens on the exchange and benefit from the estimated 24% Supercharged Rewards. Below is information taken directly from the Coinlist website regarding Staking Mina on Coinlist.

For further information on Staking MINA, click here.

1. What is MINA staking?

MINA is the native utility token for the Mina blockchain. Instead of using miners and a Proof-of-Work (PoW) consensus mechanism to verify transactions and maintain the integrity of the Mina blockchain, Mina uses a Proof-of-Stake consensus mechanism. This means that network participants are able to stake a certain amount of MINA for the right to honestly verify transactions on Mina and receive rewards for doing so. Additionally, MINA owners are able to lock their tokens and vote for these network participants, known as validators. MINA holders that lock and vote their tokens receive additional MINA as a reward for voting for honest and active validators on the network. CoinList manages the locking and voting for users who deposit MINA into their CoinList wallet so they can passively receive additional MINA.

2. How do I earn MINA staking rewards on CoinList?

When you deposit or purchase MINA on CoinList, you may be eligible to receive staking rewards by keeping MINA in your CoinList Wallet. Once you deposit MINA into your CoinList Wallet, you are automatically opted into staking rewards. There is no action on your end required to participate. Please note that MINA held on CoinList Pro do not earn staking rewards.

3. How much are MINA staking rewards?

The MINA network currently has an estimated 24% in rewards for users that have MINA deposited into their CoinList wallets. Please note that this estimated APY is not guaranteed, is subject to change, and does not take into account the CoinList commission fee.

4. What fees are charged for this staking service?

A 15% fee will be taken from your earned staking rewards. Your staked principal will not be affected by the fee.

5. Do I have to buy my MINA on CoinList to earn staking rewards?

No. Users who have procured their MINA from other means or trading venues are able to deposit their MINA into their CoinList Wallet and automatically be enrolled in the staking rewards program.

6. Who is eligible to earn MINA staking rewards on CoinList?

Anyone who is able to open up a wallet on CoinList and deposit MINA into their account is eligible for MINA staking rewards on CoinList. CoinList Wallets are not available in all jurisdictions, please visit this page to see our list of approved jurisdictions. Not available for citizens and residents of the US and Canada.


7. What are MINA staking rewards paid out in?

MINA staking rewards on CoinList are paid out in MINA. This means you will accrue additional MINA by keeping your MINA in your CoinList wallet.

8. When will I receive my MINA staking rewards?

Once per month, CoinList will distribute rewards to users pro-rata of their average holdings over the month. We will notify you via email once your rewards have been distributed into your CoinList wallet.

9. Will my staking rewards be automatically re-staked? Are MINA rewards compounding?

Yes, your MINA staking rewards are automatically re-staked and earning additional rewards unless you withdraw or trade them. MINA rewards are compounding daily, but are only distributed once per month.

10. Who is the MINA staking provider for CoinList?

Currently, MINA tokens held in CoinList Wallets are delegated to Figment, a professional staking service.

11. Can I choose who my MINA tokens are delegated to?

CoinList does not include the functionality to choose to whom your tokens are delegated (i.e. they are automatically delegated to Figment). In order to choose who your tokens are delegated to, you will need to transfer your MINA tokens to a wallet that you control yourself.

For Mina Token Sale participants only:

13. Have I been earning block rewards since the sale date?

Yes. The MINA tokens you purchased have been earning staking rewards since the sale. These accrued rewards will be paid into your CoinList Wallets on May 31 when your tokens unlock.

14. How do I earn “Supercharged Rewards”?

“Supercharged Rewards” are automatically enabled for the MINA tokens you purchased on CoinList. You do not need to take any action to activate these rewards. The staking rewards you will be paid on May 31 (and each month thereafter for the first 15 months after mainnet launch) include Supercharged Rewards. More information about Supercharged Rewards can be found here.