Switcheo has started distributing block rewards to TradeHub validators and users who have staked their SWTH tokens, beginning at 11:00 am (UTC +8) on Friday, August 21st, 2020. The reward distributions comes three days after NEP-5 SWTH token holders were able to start staking with validators of their choice.
The launch of TradeHub, dubbed phase zero, allows NEP-5 SWTH token holders to conduct one-way transfers to the standalone chain for staking purposes. Phase zero SWTH staking participants are incentivized with higher than usual reward yields, however they are are unable to transfer their SWTH back to the Neo blockchain until phase one of the TradeHub rollout, which currently has no definitive launch date.
At the time of press, the TradeHub network has 15 validators, hosted by range of centralized exchanges, professional validator pools, Neo ecosystem entities, and grassroots participants.
Grassroots validators include NEO Economy, Switcheolytics, and Guardians of TradeHub. At the time of press, NEO Economy is the most supported validator, with approximately 110 million SWTH tokens staked to its node and 24.00% voting power.
More information about staking NEP-5 SWTH tokens on TradeHub can be found below: