Mina is the first blockchain encryption protocol with a constant block size. The Mina protocol compresses the entire blockchain into a snapshot as the size of a Twitter tweet. And this means no matter how many transactions are being processed, it’s still convenient for people to verify the blockchain and the access is available for everyone.
Holders of MINA token can store their MINA in wallet and delegate them to nodes to obtain the BP rewards. There are two types of tokens for holding, and one is locked tokens: those tokens were for the early private sales and rewards for early participation in the MINA testnet, which are locked in the address and will be released linearly. The other one is non-locked tokens: generally, we consider that all tokens that can be transferred are non-locked tokens. For example, tokens that purchased from Coinlist are all non-locked tokens. For the non-locked tokens, it won’t be allowed to have even one single locked token in the address.
Except transferrable or not, the other difference between locked tokens and non-locked tokens is the rewards of staking. The BP rewards for the locked tokens in staking is 720 MINA, but for the non-locked tokens it would be 1,440 MINA, and the APY is 24% theoretically (current standard).
Regarding staking, there are a few points need to be clarified:
In this article, we will take the Chrome extension of Auro Wallet as an example to show you how to delegate your MINA to the nodes and get rewards.
Bit Cat currently runs two nodes on Mina project, and one of them is only for non-locked tokens, which is node AURO (Supercharged). AURO(Supercharged) is a supercharged pool. The purpose of building this pool is to guarantee the BP rewards will be 1,440 MINA tokens with the APY of 24% theoretically.
AURO node only accepts the delegation of non-locked MINA tokens. Youn won’t get any rewards if you delegated Time-locked tokens to AURO.
If you are using AURO wallet, you will see AURO node at the top of the node list, and the staking address is: