What if...you could stake a ERC20 token and let your online wallet do all the work?
In the past months a craze is going on in the crypto chats and forums, many new tokens have been released in the wild world of crypto in the hope to raise money enough to bring an idea to fruition, after the millions or should i say billions collected with a simple PDF file finally there is the possibility to invest in the tokens freely and for free!
The magical world of the AIRDROPS!
If 2 years ago you ever wondered out loud that money could drop from thin air people would take your car keys and gave you a ride and something to deal with the hangover, today is becoming like a work for some people, they collect all the tokens ERC20 that they can, this kind of coins are simply one of the features of the Ethereum blockchain where everyone with knowledge of the code can create money from thin air and well, drop it.
All that was new becomes old, here comes the POStoken standard.
One of this coders and his team thought well to create a token that can be staked and actually give you an earning, here there are the specifications snapped form the original website:
How to earn?
all you have to do is to have some of them in your wallet compatible with smart contracts as metamask or myetherwallet and then follow the instructions as i did successfully here is the mini guide taken from https://postoken.org
Holding some PoSToken for a period of at least 3 days, greater than or equal to the Min Coin Age.
PoSToken provides two methods to trigger PoS mining:
2.1. Sending a transaction to your own address with any amount of POS.
2.2. Using MyEtherWallet.com or Mist or any other software that can interact with contracts to execute mint() function.Not sure about your account's coin age or current interest? Executing these functions:
3.1. annualInterest() : Return current annual interest.
3.2. coinAge() : Return coin age of your account. Return 0 means that your token doesn't meet the min coin age now.
Here is a video that explains how to collect your reward
Simply put when you get POStoken in your wallet the staking process starts after 3 days, passed that minimum period of time you can reap the reward using the tutorial just some word down paying some gas (200000) but you can even wait some more until 90 days and you can check every day if the reward is growing with this nice calculator here https://calculator.postoken.org/ just insert your address there and click the big button.
How To mint your unclaimed POStoken on myetherwallet:
Click on "contracts"
insert Contract Address: 0xee609fe292128cad03b786dbb9bc2634ccdbe7fc
insert the contract in the form field named ABI/JSON Interface:
[{"constant":true,"inputs":[],"name":"name","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_spender","type":"address"},{"name":"_value","type":"uint256"}],"name":"approve","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":false,"inputs":[],"name":"mint","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"totalSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"coinAge","outputs":[{"name":"myCoinAge","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_from","type":"address"},{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transferFrom","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"timestamp","type":"uint256"}],"name":"ownerSetStakeStartTime","outputs":[],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"maxTotalSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"decimals","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[],"name":"getBlockNumber","outputs":[{"name":"blockNumber","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"chainStartTime","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"}],"name":"balanceOf","outputs":[{"name":"balance","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"stakeStartTime","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_recipients","type":"address[]"},{"name":"_values","type":"uint256[]"}],"name":"batchTransfer","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"owner","outputs":[{"name":"","type":"address"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_value","type":"uint256"}],"name":"ownerBurnToken","outputs":[],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"symbol","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"totalInitialSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transfer","outputs":[{"name":"","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"annualInterest","outputs":[{"name":"interest","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"stakeMinAge","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"chainStartBlockNumber","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"},{"name":"_spender","type":"address"}],"name":"allowance","outputs":[{"name":"remaining","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"stakeMaxAge","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"maxMintProofOfStake","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"newOwner","type":"address"}],"name":"transferOwnership","outputs":[],"payable":false,"type":"function"},{"inputs":[],"payable":false,"type":"constructor"},{"anonymous":false,"inputs":[{"indexed":true,"name":"burner","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Burn","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"_address","type":"address"},{"indexed":false,"name":"_reward","type":"uint256"}],"name":"Mint","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"owner","type":"address"},{"indexed":true,"name":"spender","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Approval","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"from","type":"address"},{"indexed":true,"name":"to","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Transfer","type":"event"}]
click on "access"
now choose from the menu "mint" and insert 200000 as gas then click on generate transaction
enjoy your POStoken and think about the moon.
The thing that is driving the POS token price up is that behind it there is a very well prepared team and i can say this because they not only invented the ERC20 Proof of Stake mechanism but they are letting others use it, it is called PoSTokenStandard and soon we will see many new tokens that will use it to distribute their coin, furthermore i really like the website they created to keep track of the bounties and the airdrops go https://airdrop.postoken.org/?r=59d3983959 and see for yourself.