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Showing content with the highest reputation since 01/22/2020 in Posts

  1. This proposal is focused on expanding the Elrond staking economy. Please read the information below carefully in preparation for our feedback sessions. The changes we are proposing are meant to open a new era of growth for Elrond, specifically increasing the token distribution and decentralization, strengthening the security of the network, and enabling sustainable business models around staking-as-a-service providers. In short, by enabling more eGold to be staked, more people and validators will participate, more tokens will be locked, security will improve, potentially increasing the va
    3 points
  2. Hi Milan, 1. If you run a staking service (accept delegations) there is a delegation manager contract that allows you to create your own delegation contract with your preferred configuration (service fee, delegation cap, etc). For this you need to come with 1250 eGLD yourself, which will be the first delegated amount (your own delegation) and is required in order to keep your delegation contract active. Everything else can come from other delegators. 2. Yes the node will be deactivated by the protocol while the staked amount is below the minimum required. If in the meantime there is
    2 points
  3. Hi Marius, The removal of Elrond foundation nodes is not yet in discussion for the phase 3 release, this will be further down the line and will be announced beforehand. But just for the sake of discussion, the mechanism should be fairly simple, one option (which in my opinion would also be elegant) would be to keep the extra stake from the removed keys(nodes) as TopUp stake on the remaining nodes. This will indeed cause the return per staked token to decrease on average a bit, since the topUp stake APR is always below the base stake APR, but will also allow SaaS providers to become a
    2 points
  4. Hi folks! I have some questions please. My understanding is that (soon) starting with the phase 3, the max no of validators will be increased up to 3200. Also, some of the Elround Foundation nodes will be removed letting some space for some external nodes. So far so good. My questions: 1. How are selected the nodes to be removed? Just random? 2. What's happening exactly with the tokens delegated to those Elround Foundation nodes? Will be moved transparently to some staking partners? 3. The affected delegators will be announced and can decide for themselves? Thank you, Marius
    2 points
  5. About Delegation System Smart Contracts: I suggest by default to have some variables that helps to define: standard fee (without lock commitment) 3 months fee 6 months fee 12 months fee If a provider only "fill" the variables standard fee and 12 months fee, only this 2 options will be available in the SC This change will cover a lot of scenarios for staking providers
    2 points
  6. The Economic paper we are publishing today presents the economic principles governing the Elrond Network, and how they keep everything aligned Read the full paper here: https://elrond.com/assets/files/elrond-economics.pdf Reasoning and overview Through Elrond we propose a bold vision for a post-capitalist world, providing a new economic model and language specifically designed for the information age. The Elrond token, eGold (eGLD), will have an expected bootstrapping duration of roughly three-to-five years. The Elrond token is inseparable from the Elrond Network, and thus in
    2 points
  7. It is not possible to delegate less than 10 eGLD. This is because more fragmented delegations would incur larger gas costs for other operations, like swapping active delegation with staking queue delegation, or increased storage access due to larger SC state. This is also a sort of sybil attack prevention. The difference between staking and delegation is that for staking you need to "lock" 2500 egld in order to run a validator and you need to take care of the machine running the validator software, keep it online, make sure it has good network connection, etc, while for delegation yo
    1 point
  8. This is fantastic answer . I love this project, from the cutting edge tech to even this 10/10 level of community interaction, I could not be more optimistic about ELROND. I see your reasoning, as you have so well described it, and it makes sense to me. I also have been really studying EGLD this week, and have been monitoring the que sizes etc, to see what kind of time intervals it will take to delegate, and learning more. Besides the technology, the economics of this are also very unique, I don't think anyone has tried just this sort of design (in terms of the APY, staking, ques, an
    1 point
  9. 1. The queue/waiting list will no longer be incentivized, but at the same time more "seats" will be available for staking and the delegation manager will be available for staking providers. At this point we might see some migration from active delegation and/or waiting list delegation to active delegation for staking providers. The nodes for the community nodes delegation will not be supplemented, so active delegation will only become available on the community delegation smart contract if someone with active delegation withdraws. 2. The option for staking providers to choose differe
    1 point
  10. The deposit will accrue rewards for the SP only if it becomes part of a node stake. If for example the delegation amount + SP deposit <2500 eGLD then it would not receive rewards, as there will be no eligible node to earn rewards. As soon as there is at least one eligible validator with stake from the delegation SC, then the original deposit will also accrue rewards just as you mentioned.
    1 point
  11. Hello @trictrac, According to the source code of the contract, https://github.com/ElrondNetwork/sc-examples/blob/master/erc20-c/erc20.c#L85 it seems that it requires an argument (the total supply) at deploy-time (the init function is executed at deploy-time). You can fix this by providing the argument in the erdpy command, as follows: ... your command ... --arguments 0x0002540be400 Let us know how it goes.
    1 point
  12. For 1 there is also the option for you to not go through the provided delegation manager contract and create your own delegation Smart Contract, where you can set your own rules, no minimum delegated amount from staking provider, etc., but here all the coding/gas optimization/validation/testing/auditing efforts will be on your side, which is really important as the risk for loss of funds in case of bugs is high. We have already spent a lot of time for the coding/testing/auditing etc of the delegation manager system SC and more will follow on the testnet, so for the people that do not have
    1 point
  13. Actually there is one change, where we plan to remove the maximum number of nodes limit, this is for when we introduce phase 4 staking which was briefly touched in the proposal, but the effect would be that we can have no limit for registering nodes, but in every epoch you would also only have 1600 nodes eligible, out of all registered ones, with a maximum of 20% swap ratio for shuffling, the nodes shuffled into eligible list being the best qualified nodes (considering stake value and possibly rating)
    1 point
  14. As long as we don't change the number of shards, this should stay. Increasing the number of shards will only be triggered when we reach a high enough block fill ratio and implicitly TPS (one block has a capacity of 1.5 *10^9 gas). I would not expect to have the change before we reach ~40% average fill ratio of the block capacity, which would mean 10k-12k regular transactions/block (~6k TPS for the current network setting) It would be amazing to reach this in the next one year, but very difficult. Also unregistering elrond foundation nodes will not affect the maximum number
    1 point
  15. Thank you Adrian, this sounds pretty good and indeed is an elegant solution that will accelerate as well the level of decentralization.
    1 point
  16. If you mean the delegation System SC then yes, it will be available and enabled with phase 3 staking.
    1 point
  17. my point is to reward more people who are committed to the project, and want to secure the system for the long term. and it's a way to keep gambler away
    1 point
  18. This all really great stuff guys! Excited for this next phase. Few questions / comments from me: 1. Is there an auto compounding feature available? 2. When a node reaches 5000 EGLD is there a mechanism to stake an observer automatically while putting next in line in the validator queue? 3. "Increasing the stake of a node will be possible using eGold from any source, not just Validator rewards". - Love this. No barriers to daily cheap compounding / growth. 4. How much EGLD should we hold in our delegation contract to ensure we are always validating? 5. With delega
    1 point
  19. For the phase 3 staking proposal there is no change in the minimum node price, it is still 2500 eGLD Also no validator can be priced out, as long as they maintain at least 2500 eGLD per node. So although we are increasing the possible amount to stake per node, this is more of an increase in acceptance conditions rather than a change in rejection conditions. Plus, for the extra 500 eGLD you mentioned you have, you can now earn some rewards, even if you do not have enough to register a new node.
    1 point
  20. It's a good idea to remove the fixed number of Elrond needed for a node. We can compound our rewards.
    1 point
  21. small fish hi all, well im a small fish here and i only run one validator node, at the moment i dont want to go into becoming staking as a service provider untill i could become more comfortable with the smartcontracts etc so untill then im quite happy running my node, if i could i would had run more nodes but i do not have the funds for this, so im just going to put this out their, i understand the proposal to increase the stake per node but putting the amount up too much may price even more people out and a few people/comapanies could end up running a majority of the nodes, this to me
    1 point
  22. Should we also have a flow in the main DSSC where people will choose lock commitment for a higher APR comparing with no lock commitment ?
    1 point
  23. 1. The APR for validators will remain fixed at 36% as long as number of validators remains fixed at 2169 and the stake per node is fixed, at 2500 eGLD. So during mainnet bootstrapping phases 1 and 2 it will stay like this as the stake and number of validators is fixed. Phase 3 and 4 will permit the number of nodes and stake to increase so it means the APR will change as well (as the amount of rewards per year is fixed). 2. The validators queue will follow the same logic as the delegation queue, first come first served.
    1 point
  24. Please refer to sections 2.5 Rewards calculation and distribution in the paper. Rewards are distributed at the end-of-epoch by the following rules: 10% of the fee from one block is received by the block proposer, while the rest of 90% goes into a fees pool, TotalFeesToBeDistributed. At the end-of-epoch a calculation will be done to establish how many new tokens have to be minted. This number is established calculating the TotalRewardsToBeDistributed according to maxPossibleInflation, and number of blocks produced by each shard, minus the TotalAccumulatedFees by all the shards during that
    1 point
  25. Howdy folks, my first post, and the forum is a welcomed attribute, one most companies avoid, so embrace this! A brief note: I am an entrepreneurial software dev: having built a $30B budeting tool, been CEO of my own startup (which did not viralize), and been involved in crypto for years. Chatting with Elrond about a significant involvement with validotors due to an investment stream i am soon to be involved with. I see where Elrond can go, and will do what i can to help. I believe firmly that many larger players bought in early in order to keep killing the upswing in market prices, altho
    1 point
  26. I think it's time for a small presentation. My name is Kevin and i'm from France :) My interest for cryptocurrency really started in March and i discovered Elrond quite late in June. I am autodidacte and passionate in web-technologies and i believe that Elrond will occupy myself for the years to come. I am used to work with API and im fluent in SQL. Who know may be one day i will write some smart contracts on Elrond I feel like i'm taking part in history and i'm glad to help the french community in telegram and on medium as a translator :) Have a nice day !
    1 point
  27. Elrond (ERD) is now listed at cointostake.com (staking statistics, live data, monitoring, POS reward calculator) Elrond staking calculator
    1 point
  28. Thank you for response Richard. I kinda had a feeling that was it. Also, thank you for sharing that Elrond had an active Telegram. I will jump on it. Stay healthy. Regards, TCBTCF
    1 point
  29. Hi, I got this sorted. Saw your post while I was looking for a solution so came back to help you guys. You have to first add Elrond as a token (under Custom) in Metamask. To do this, click Metamask to open it, then click on the three dots to the right, then click View On Etherscan. In the Overview section on Etherscan, use the dropdown box and select Elrond. Then copy the CONTRACT ADDRESS over on the right. Go back to Metamask, scroll down and click Add Token, the select Custom Token. Paste the contract address into the field there, then "erd" in the token symbol field. The re
    1 point
  30. Official guide for setting up a node: https://docs.elrond.com/start-a-validator-node/start-the-network Community enhanced official scripts: https://github.com/ElrondNetwork/elrond-go-scripts Community tutorials: “FAQ running Elrond Network node for the first time” by Jose F. Aznar https://link.medium.com/4ime0uLMn0 “Fast Install & Update Elrond Nodes” by Jose F. Aznar https://link.medium.com/pQxZjzOMn0
    1 point
  31. Elrond blueprint wallpaper. All the download links for wallpapers here. Since forum compresses - Full resolution download link: Blueprint - https://i0.wp.com/tarantulo.lt/wp-content/uploads/2019/09/The-Erlond-blueprint.jpg Rasperry Pi - https://i0.wp.com/tarantulo.lt/wp-content/uploads/2019/09/Erlond-rasberry-4k-Dark.jpg Bubbles wallpaper - https://i0.wp.com/tarantulo.lt/wp-content/uploads/2019/09/Elrond-desktop-4K.jpg
    1 point
  32. Here is a all you need to know on the technical level about Samsung's cryto enabling Keystore: https://developer.samsung.com/blockchain/keystore/understanding-sdk Elrond will be supported by the Samsung wallet, as a partnership has been announced.
    1 point
  33. Hi guys. I am Lucian. I am a serial technology entrepreneur and angel investor, with more than 15 years experience in Internet and tech related businesses. I took the first step towards entrepreneurship in 2001, when, as a 21 years old student, launched the first website that later became known as Soft32.com. In 2002, I decided to drop The Bucharest University of Economic Studies where I was specializing in Finance, Insurance, Banking and Stock Exchange in order to focus on building and expanding the Soft32 platform that, at its peak, listed more than 150 000 apps and was visited by more
    1 point
  34. Hello friends, Super excited to finally be able to write stuff on our own forum - cool stuff 🙂 So just to intro myself: I've got a Politics and International Relation educational background from Aberdeen University in Scotland - studied, lived and worked in Ireland, Scotland and England for over 7 years. First started my career as a Software and IT recruitment consultant for an international company with HQ in UK, then moved into Employer Branding, Communication and Marketing and now I'm doing Business Development. 2 years ago I returned to my home country - got a decent posi
    1 point
  35. I think the minimum ERD needed for staking will be adjusted over time, therefore there's no limit to maximum nodes number. The network can scale infinitely and there's no limitation on device due to parallel processing and sharding. Even Bitcoin lightning is only ran by 10K nodes for now. First year is crucial. If we can get >3000 nodes, rewards will be less than 90%. More decentralized. In the few early years market might get monopolized by several people with high staking reward.
    1 point
  36. Interesting thread Alwin. I will post here one of the best videos that I know. The interview of Brad Laurie to Beniamin Mincu
    1 point
  37. i think cardano is the better choice
    0 points
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