When are MINA rewards paid out?

You only have to visit any of the Mina telegram channels to see that it’s a question being asked by a lot of people. And while it’s a simple question, the answer will depend on a few different things. Some Block Producers will pay rewards out after every epoch (which is approx every 2 weeks), others however will pay out monthly. Also it may take some Block producers a few days to configure their rewards so that they appear in your balance. It is always a good idea to communicate with the Block Producer before delegating your MINA to them to find out this information. It might save you a lot of stress (DYOR).

The biggest Block Producer available to delegate to currently is (not surprisingly) Coinlist. They were involved in the MINA ICO and many holders who were successful in obtaining Mina through the ICO have chosen to keep their coins with Coinlist and collect rewards that way. Coinlist paid out rewards on the 4th July last month, today is the 9th Aug so this is probably why so many people are asking questions.

CONFUSINGLY there are reports that Coinlist are going to pay the latest rewards on Tue 10th August (See below). As a result I have contacted Coinlist and we’re hoping to have a full explanation of their rewards payout schedule on the website as soon as possible.

At the time of writing (9.30 am) we are currently 3 days, 3 hours and 36 minutes away from the next Epoch, so logic would say that any rewards will be paid out AFTER the end of the Epoch. So if you are waiting for Staking rewards to appear in your wallet, be patient they will arrive. If they don’t tell us about it, as part of our commitment to the MINA Ecosystem we will attempt to communicate with non-paying Block Producers to get an explanation.

At the moment there is an easy way to see which of the block producers are doing a good job, you can look on the Mina Block Explorer here. You can also have a look at the MINA EPOCH CALCULATOR, it will show you the current status of the Epoch. One idea is that in the future the MINA Foundation could incorporate some kind of voting/satisfaction system to give holders an even better idea of who to stake their MINA with.