You can now claim $WALLET rewards in Ambire Wallet

This article guides you through the process of claiming WALLET rewards in Ambire Wallet, detailing the benefits and how it enriches your decentralized finance journey.

The Ambire Team

Feb 1, 2022 • 2 min read

You Can Now Claim $WALLET Rewards in Ambire Wallet

Starting today, you can unlock 20% of accrued $WALLET tokens in your Ambire Wallet . $WALLET staking is coming soon too.

If you have used actively your Ambire Wallet since we launched it back in December and kept some funds in it, you’ve probably accumulated some $WALLET token rewards as per our early users continuous airdrop incentive. (Find out more about the $WALLET token, early rewards program, staking mechanism and other details from the Ambire Wallet Whitepaper.)

Now, the awesome news:

You can unlock 20% of your accumulated $WALLET rewards based on a snapshot made earlier today.

Just go to your dashboard and make sure you are on the Ethereum network. Open your $WALLET rewards window and you’ll see the amount of tokens available for claiming.

Important: The minimum amount of $WALLET available for claiming is 100, so at the moment your account has to have 500 or more $WALLET accumulated if you want to claim some.

Have in mind that when claiming rewards, you are minting $WALLET tokens via the token contract, so you will have to pay network fees on the Ethereum network.

What about the rest of my $WALLET?

Ambire users will be able to claim the rest of their $WALLET rewards + whatever has been accrued so far very soon. You will have two options:

Claim all your $WALLET outstanding balance as staked xWALLET token and receive staking rewards. If you want to unstake xWALLET, you can wait for a 20 days unbonding period to end, or you can unbond instantly some of your $WALLET, but the rest gets redistributed to all Ambire Wallet users — think of it as a fee for skipping the 20 days unbonding period.
Claim all your $WALLET outstanding balance but have some of it burned.

Why burning?

We introduce the burning of $WALLET token to reduce pressure on the price of the token, engage our community better, and introduce a deflationary mechanism.

Where is $WALLET traded?

You can trade $WALLET on Huobi and on Sushiswap. In fact, there is a tempting $WALLET promo running on Huobi at the moment, so check it out.