What is the difference between FLOW and FLOWH.S on Kraken?
The FLOWH.S symbol on Kraken represents FLOW tokens that are unable to be traded or withdrawn (locked).
FLOWH.S will generally correspond to locked tokens that you purchased in private sales or the CoinList public sale and claimed through your Kraken account.
While lockup restrictions may vary:
Please note that the above are estimates and subject to actual conditions on the FLOW network, among other things.
By holding FLOWH.S on Kraken, you authorize and instruct us to stake the asset subject to our Terms of Service. Pursuant to those Terms, we may preemptively unstake certain amounts of FLOWH.S in order to support instant transferability upon an unlocking event. You will not be eligible to earn staking rewards while that FLOW is unstaked.
Staking rewards from staked FLOWH.S that are credited to your Kraken account will be credited as fully unlocked, transferable FLOW - represented by the symbol “FLOW”. See below for more information.
|FLOW||The FLOW symbol on Kraken represents FLOW tokens that are fully transferable. These tokens can be staked, un-staked, deposited, traded and withdrawn.|
What will be the unlocking process on Kraken?
Subject to network conditions, some or all locked FLOW (FLOWH.S) is expected to be unlocked on October 16, 2021. Following unlocking, these FLOW tokens will be represented as FLOW (not FLOWH.S) in your Kraken account. Like all unlocked FLOW, you will then be able to trade, stake or withdraw these balances.
In the lead-up to the unlocking event, Kraken is unstaking all FLOWH.S that is scheduled to unlock on October 16. You will not earn staking rewards from October 5th 3pm UTC onward for any unstaked FLOWH.S. This will ensure that you are able to trade, withdraw, or re-stake your FLOW when it is unlocked on the Flow network.
Please note that you should only hold FLOWH.S on Kraken if you participated in the FLOW presales or the CoinList public sale and claimed this FLOW through your Kraken account. If you hold and stake FLOW (but not FLOWH.S) on Kraken, your FLOW balance will not be impacted and you will continue to earn rewards uninterrupted.
For FLOWH.S unlocking on the network after October 16, 2021, it is expected that (subject to network conditions on the FLOW network) your FLOWH.S will be unstaked up to two weeks prior to the unlock date, and that the unlocking process will otherwise proceed in a manner consistent with the process described above.
What happens to my FLOWH.S?
On October 5th you will see your FLOWH.S balance decrease, and see a pending deposit of FLOW for the same amount appear. Subject to conditions on the FLOW network, on October 16th that pending deposit will finish and your FLOW balance will reflect the change. For example: 10 FLOWH.S => 10 FLOW. Your unlocked FLOW can then be traded or withdrawn, or you can choose to instantly restake your FLOW and continue to earn rewards on your FLOW balance, as normal.
For FLOWH.S unlocking on the network after October 16, 2021, it is expected that your Kraken account balances will be updated in a manner consistent with the process described above.
What is the reward percent for staking FLOW tokens on Kraken?
The estimated rewards and minimums for staking may be found here.
Can I withdraw or trade FLOWH.S?
No, FLOWH.S represents locked FLOW tokens that are unable to be withdrawn or transferred prior to unlocking. You can trade or withdraw unlocked FLOW, which is represented by the symbol “FLOW” on the Kraken platform.