Those of you who are familiar with the Rowan Energy Project will know and appreciate the value of the Rowan Energy staking rewards in their vault feature.
Recently it came to Rowan’s attention that the Rowan Vault was incorrectly calculating interest for the users utilising it. We have identified the issue and are working to rectify it. Please note in no way does the issue affect the main Rowan Blockchain or the use case for home renewable energy generators.
As such we have currently switched off the ability to add extra amounts into the vault or for new users to use it.
How The Rowan Energy staking rewards Vault Works
We would like to take a moment to clarify exactly how the vault works.
Rowan Energy is primarily a company concerned with allowing people who generate home renewable energy to benefit from REC’s and uses RWN as a reward token for them. The ability to openly trade RWN as a cryptocurrency is an additional feature but primarily it is designed as a reward token, NOT a currency.
The Rowan vault feature is for people who are holding RWN tokens but want immunity from the publicly traded rates and to instead have a fixed predictable interest.
To make things, even more, transparent we have created a table to calculate a daily compound interest rate of 0.15% when a person locks £1000 worth of RWN into the Vault.
If you do not wish to use the above functions please remove your funds from the vault to your wallet before this point, and your RWN will stop earning interest and will be sent back for you.
As stated above, the vault is a means for the user to earn fixed interest on their fiat value when adding RWN to the vault as protection against trading market fluctuation. In particular, it is designed for those individuals who do not wish to trade but have earned RWN as a reward token as part of the REC generation process.
Hopefully, you have enjoyed today’s article, for more information on Rowan Energy please check our https://rowanenergy.com/.
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