You’ll want Lady Luck on your side for this one. This fall, CEX.IO’s Polkadot Turn of Fortune staking promotion is bringing ample opportunities to increase your DOT rewards.
Starting from September 19 until October 2, 2022, DOT stakers will have a chance to boost their staking rewards anywhere from 50% to a whopping 200%. As a reminder, the current APY for DOT is 10%.
Curious how to get Polkadot Turn of Fortune to land in your favor? To participate, follow these steps:
- Spin the wheel to obtain your seven-day DOT staking boost (link to the page).
- Buy or deposit DOT tokens.
- Keep DOT in your balance for at least one week to expand your bonus.
Before you take your turn at the wheel, there are several rules to keep in mind:
- The promo lasts from September 19 until October 2, 2022. As soon as the promotion begins, you’ll be able to spin the wheel and boost your DOT staking rewards by up to 200%.
- You may participate any time you like during this period. However, you can spin the wheel only once.
- If you haven’t registered at CEX.IO or verified your account, please do so. Only fully verified users will be eligible to participate in the promo.
- Only DOT purchases and deposits made from September 12 to October 2 qualify for enhanced rewards. Therefore, you need to buy or deposit new DOT tokens during the promo period to participate. Old holdings will not be honored.
- Both existing and newly verified customers are eligible to join the promo. But remember that only new DOT stakes qualify.
Suppose you have been holding 1,000 DOT in your balance before spinning the wheel. After you spin the wheel and receive your bonus percentage, you then purchase an extra 500 DOT. The bonus would only apply to the additional 500 DOT you bought after you spun the wheel.
To initiate automatic staking, you must have at least 1 DOT in your balance. Of course, you can maximize your rewards by staking more than that amount. The rewards are proportional to the number of coins staked, as well as the staking period. The more and the longer you stake, the greater the rewards.
Fully verified users can spin the Polkadot Turn of Fortune any time from September 19 until October 2, 2022. Upon spinning the wheel, you will receive a randomized bonus in the 50%-200% range. That bonus will be added to your staking rewards and last for 7 days starting when you deposit or purchase new DOT.
On a regular day, staking DOT with CEX.IO can earn rewards of up to 10% APY. However, the Polkadot Turn of Fortune promo has the potential to dramatically boost your DOT staking APY. The additional APY bonus could land anywhere between 50% to 200%. When you add the bonus to your standard staking 10% APY, your reward may more than double for the week.
Any bonuses given out during the promo will be a percentage of the current DOT staking rate. As such, rewards will be calculated as follows:
10% regular DOT staking reward + 100% of the regular staking APY (bonus) = 20% (overall DOT staking reward).
Therefore, a 200% bonus would result in a 30% boost for the week.
Don’t hesitate — spin the Polkadot Turn of Fortune to ground your stakes!
Staking with CEX.IO
After nearly a decade in the crypto space, CEX.IO has always strived to anticipate user expectations and then put them into practice through our products and services. For years, we have worked to become the most intuitive and trustworthy staking provider in the industry.
To meet our customers’ demands, we sought to build a staking environment that can accommodate users at every stage of their crypto journey. Staking with CEX.IO is fairly straightforward: when you add designated tokens to your wallet, the staking process will begin automatically. Verified users can start reaping rewards after a single day!
Unlike other providers, CEX.IO doesn’t impose a lock-up period on staked assets. You can withdraw your coins whenever you want without fear of incurring penalties. Check out our staking page to review our current selection of stakeable tokens.
And don’t forget: the fun kicks off on September 19!