The Fetch.ai ecosystem continues to expand its rewards initiatives with the introduction of ATMX token incentives for FET stakers. Following previous programs involving FET and MTLX, this new effort aims to provide additional passive income opportunities to loyal supporters.
With the upcoming launch of the Atomix lending platform, Fetch.ai has announced a second staking reward program designed specifically for its community.
Key Details of the ATMX Staking Program
We are excited to share that starting April 13, 2021, the Fetch.ai Phoenix Program began distributing ATMX tokens to participants who stake their FET tokens.
Over a three-month period, 750,000 ATMX tokens will be distributed to users staking FET.
Incorporating ATMX into the Phoenix staking program will significantly boost the annual percentage yield for FET stakers. The exact APY increase will become clearer once ATMX is listed on decentralized or centralized exchanges.
A detailed blog post regarding Atomix tokenomics will be shared shortly.
Who Is Eligible for ATMX Rewards?
Both existing FET holders who are already staking on the official Fetch.ai staking platform and new investors looking to stake their FET tokens are eligible to receive ATMX rewards. The process is designed to be accessible to everyone in the community.
How the Program Works
- Three-Month Duration — The program began on April 13, 2021, and concluded on July 13, 2021.
- Substantial Daily Rewards — Throughout the program, over 8,000 ATMX tokens were distributed to stakers each day.
- No Locking Period — There was no mandatory lock-up period for rewards. Accumulated ATMX tokens could be claimed at any time.
- Daily Snapshots — User rewards were calculated daily based on a snapshot taken at 23:59 GMT+1 and displayed on the staking interface.
- User-Friendly Interface — Participants could claim their ATMX rewards through the familiar staking.fetch.ai interface.
For a visual guide on how to stake FET, a helpful video tutorial was available.
If users had any questions, they were encouraged to reach out to the official Telegram group for assistance from administrators. A critical reminder was always emphasized: never interact directly with the staking contract, as this could lead to irreversible loss of FET tokens.
👉 Explore secure staking methods
Staking should only be conducted through the official staking.fetch.ai platform.
Frequently Asked Questions
1. How do I stake my FET tokens?
Here is a simplified step-by-step guide:
- Download the MetaMask browser extension and create a new account. Always use the official website, metamask.io, and never lose your 12-word seed phrase or password.
- Configure MetaMask to display FET tokens by adding a custom token with the contract address: 0xaea46A60368A7bD060eec7DF8CBa43b7EF41Ad85.
- If you hold FET and ETH on an exchange like Binance, withdraw them to your MetaMask wallet. You will need ETH to pay for transaction (gas) fees.
- On the staking.fetch.ai platform, connect your MetaMask wallet. You will see your FET balance on the page.
- Click "Top-Up," enter the amount of FET you wish to stake, and confirm the transaction in MetaMask using ETH for gas fees.
- Click "Stake" and confirm the transaction. Your FET tokens are now staked and earning rewards.
Important: Never adjust the gas fees manually, as this may cause transactions to fail. Always ensure you have sufficient ETH for gas. Fetch.ai does not control network gas fees.
2. When can I unstake my FET tokens?
You could unstake your tokens at any time. However, a 21-day unbinding period was required before the tokens were fully released back to your wallet. This period was defined in blocks (approximately 137,767 blocks) and was a fixed, constant value in the smart contract.
You could monitor the exact unlock schedule in the "Unlock Schedule" panel on the staking page.
3. How were the daily ATMX rewards calculated?
A total of 750,000 ATMX was distributed over 90 days. The daily reward per staked FET token depended on the total amount of FET staked across the network.
For example, if 140 million FET were staked, the calculation would be:
- 750,000 ATMX / 90 days = 8,333.33 ATMX distributed per day
- 8,333.33 ATMX / 140,000,000 FET = 0.00005952 ATMX reward per staked FET each day
This meant:
- Staking 100 FET yielded approximately 0.005952 ATMX per day
- Staking 1,000 FET yielded approximately 0.05952 ATMX per day
- Staking 10,000 FET yielded approximately 0.5952 ATMX per day
👉 Get advanced staking strategies
4. What should I do if I sent tokens directly to the smart contract?
Tokens sent directly to the staking contract address are not retrievable. To stake correctly, you must always use the official staking.fetch.ai interface. The team cannot recover funds sent directly to the contract.
5. Why can't I see my staked tokens in MetaMask?
The Ethereum network can experience congestion. After initiating a staking transaction, users needed to wait patiently for the front-end interface to detect the successful approval and automatically trigger the subsequent deposit transaction. Reloading the page does not speed up this process.
6. Will there be more staking reward programs for FET holders?
Yes, the Fetch.ai team has plans to introduce additional reward programs for the community in the future.
7. I have already staked my FET. When will I receive my ATMX tokens?
Once FET was staked, users needed to actively enroll in the Phoenix Program for Atomix rewards. This was done by selecting the "Atomix" option in the "Phoenix Program" section of the staking page and clicking "Enroll," followed by confirming the transaction in MetaMask.
8. I am already staking FET. Will I receive both MTLX and ATMX rewards?
Yes, for a period, the Phoenix Program for Mettalex (MTLX) and Atomix (ATMX) ran concurrently, allowing stakers to earn both types of rewards simultaneously.
9. A Telegram admin sent me a direct message asking for my FET tokens. Should I trust them?
No. Legitimate Fetch.ai Telegram administrators will never initiate a private conversation to ask for your tokens or seed phrase. You should immediately report any account that does this to the official Fetch.ai moderators.
About Atomix
Atomix is a sophisticated lending platform built on a major blockchain. It utilizes tokenized real-world assets as collateral for stablecoin loans, offering unparalleled transparency and flexibility. By using crypto tokens to represent the value of collateral, the Atomix protocol decouples lenders from borrowers. This enables the value of real-world assets to flow on-chain and leverages DeFi liquidity to support borrowers beyond the crypto economy.
About Fetch.ai
Fetch.ai is an artificial intelligence lab based in Cambridge, building the essential infrastructure for autonomous software agents. These agents are designed to perform useful economic work on behalf of individuals, machines, businesses, and organizations. The Fetch.ai network is based on open-source technology, allowing users to access AI capabilities on secure datasets to execute complex coordination tasks in the modern economy.