Do I receive GAS if I have NEO stored on my hosted wallet?
If you have stored NEO on your hosted wallet you will receive GAS on a monthly basis. How this works is described in more detail below:
- Every day at a fixed time we determine how much NEO every user has in his wallet. All of the daily values are added up at the end of the month.
- At the end of the month we look at how much GAS has been produced by all the NEO from the users at Bitvavo.
- Thereafter the produced GAS will be distributed evenly among the users that have NEO in their hosted wallets.
Please find the below example for illustrative purposes:
- User A had in one month on one day 50 NEO, he had 100 NEO for two days and on the other days he had no NEO in his hosted wallet at Bitvavo. Together he had 250 NEO during this month.
- The total of NEO per day added up for all Bitvavo users is 500.000.
- The total produced GAS that will be distributed is 1.000.
- User A would get 250/500.000*1.000=0,5 GAS
The distribution of GAS will be added to your hosted wallet on every first Tuesday of the month.