Charles Hoskinson confirms ADA holders won’t lose staking rewards for abstaining from voting.
ADA holders have three options for governance: vote no confidence, abstain, or delegate.
Wallets like Lace automatically select “abstain” to simplify the staking reward process.
Charles Hoskinson, the founder of Cardano, recently addressed concerns raised by ADA holders about potentially losing staking rewards due to upcoming governance changes. In a social media post, Hoskinson clarified the available options for users, emphasizing that abstaining from governance votes will not result in any loss of rewards.
To clarify, a user to withdraw staking rewards from the network has to choose one of three options: a vote of no confidence, abstain, or delegate to a drep. Wallets like lace will in the UX automatically choose abstain if a user selects delegation only thereby simplifying the…
— Charles Hoskinson (@IOHK_Charles) September 5, 2024
ADA Holders Have Three Choices
Hoskinson outlined three choices for ADA holders when withdrawing rewards: voting “no confidence,” abstaining, or delegating to a decentralized representative (dRep). This system ensures that us…
The post ADA Staking Rewards Safe: Hoskinson Clarifies Cardano Governance Changes appeared first on Coin Edition.
