Staking

• Passive: Participants can stake FONE (0.01% minimum to 0.1% maximum of Circulating Supply) in the Network Stake, earning 4% to 10% yearly staking rewards based on the amount of FONE staked and total wallets at stake.

Staking Rate Calculation

let amountStaked = supply.staked
let stakers = supply.stakers
let circulating = supply.total

const average = ((stakers / 10000) + (amountStaked / circulating)) / 2
let stakingRate = (1 - average) * 6 + 4

stakingRate = Math.max(0, Math.min(stakingRate, 10))

return parseFloat(stakingRate.toPrecision(2))

Staking rewards are available to be claimed every 24 hours. Participants can unstake their FONE at any time after 72 hours of beginning to stake. This process and the rewards are how additional FONE is generated (called "minting") and enters circulation.

• Active: An active method to earn Fone is by validating transactions on the Network.

• To become a validator, you must stake some of your FONE in the Fone Network app.

• Next, you must run software on a device that can execute JavaScript applications (such as a laptop, Raspberry Pi, Cloud Service, etc.). This is called running a "Validator". The Validator software utilizes web sockets for P2P (peer-to-peer) connections; no port-forwarding or technical knowledge is required.

Since Fone Network is built with mobile devices in mind, no special hardware is required to validate transactions, which equalizes the ability for everyone to participate in securing and supporting the blockchain ledger.

Each Validator must also be connected to a wallet via the private key to verify that it has staked FONE and to configure access to the device.

Upon successful configuration and launch, the device will download a complete copy of the entire blockchain. Once up and running, Validators can receive and validate pending transactions for a reward of 0.02 FONE per successful validation for each transaction.