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Staking with PalmTreeNetwork


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So I staked with PalmTree, the rewards were about 20% now rewards say 8% am I missing something? Trying to find the best staking partner hasn’t been easy. 
 

possibly I’m not actively staked, though the site says am actively staked. 

Edited by Andrew
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  • 2 weeks later...

Correct me if I'm wrong but I think that staking providers can change their fees after you staked. I was at 3% with rosettastone who have now changed to 10%. Looking at some staking options they are charging more % in fees than are offering in APR.:classic_dry:

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  • Elrond Team
13 hours ago, Jeff Justice said:

Correct me if I'm wrong but I think that staking providers can change their fees after you staked. I was at 3% with rosettastone who have now changed to 10%. Looking at some staking options they are charging more % in fees than are offering in APR.:classic_dry:

Yes the staking providers can change their fees.

This is why it is important to join the telegram channels of the staking providers you staked with to get informed on the changes or have a fast way to ask your questions.

The displayed APR is what you should look at, as that one is what you get after the fees are deducted. Fees can vary anywhere between 0% and 100%, but only if the APR shows 0 then you won't earn any eGLD from rewards. You cannot have negative rewards, so your delegated amount cannot decrease.

There is a difference in APR between providers (even if they have the same fees) since it depends on how many nodes they are running and how much top up they are accepting.

The way the final displayed APR is estimated is as follows:

e.g staking pool has

       10000 eGLD and running 4 nodes, no topup

       10% fee

then we have:

=> ~21.5% (this is an estimation based on the amount of EGLD staked in the network) per year Rewards = 2150 EGLD per year =>(on average) 5.89 egld rewards per day

     10% out of the 5.89 eGLD fees => 0.589 eGLD for the staking provider out of those rewards

     this leaves 5.89 - 0.589 = 5.301 eGLD to be distributed daily to delegators

if you participated to the staking pool 1000 eGLD, then you would receive rewards proportional to your contribution:

    your daily rewards (on average): 1000/10000*5.301 = 0.5301 eGLD

 

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6 hours ago, Adrian Dobrita said:

Yes the staking providers can change their fees.

This is why it is important to join the telegram channels of the staking providers you staked with to get informed on the changes or have a fast way to ask your questions.

The displayed APR is what you should look at, as that one is what you get after the fees are deducted. Fees can vary anywhere between 0% and 100%, but only if the APR shows 0 then you won't earn any eGLD from rewards. You cannot have negative rewards, so your delegated amount cannot decrease.

There is a difference in APR between providers (even if they have the same fees) since it depends on how many nodes they are running and how much top up they are accepting.

The way the final displayed APR is estimated is as follows:

e.g staking pool has

       10000 eGLD and running 4 nodes, no topup

       10% fee

then we have:

=> ~21.5% (this is an estimation based on the amount of EGLD staked in the network) per year Rewards = 2150 EGLD per year =>(on average) 5.89 egld rewards per day

     10% out of the 5.89 eGLD fees => 0.589 eGLD for the staking provider out of those rewards

     this leaves 5.89 - 0.589 = 5.301 eGLD to be distributed daily to delegators

if you participated to the staking pool 1000 eGLD, then you would receive rewards proportional to your contribution:

    your daily rewards (on average): 1000/10000*5.301 = 0.5301 eGLD

 

It wouldn't be fairer to have complete infos in Maiar or web Elrond Wallet, so we can decide without too many researches what staking provider fits our criteria ?

As it looks now, to choose a staking provider looks like a lottery...May be it is the way it is, but, so far,  you do'nt spend too much effort to warning us about this. I think it's not fair.

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11 minutes ago, pielrond said:

It wouldn't be fairer to have complete infos in Maiar or web Elrond Wallet, so we can decide without too many researches what staking provider fits our criteria ?

As it looks now, to choose a staking provider looks like a lottery...May be it is the way it is, but, so far,  you do'nt spend too much effort to warning us about this. I think it's not fair.

The APR is shown in Maiar as well and this includes the fees, so what extra information would you require directly in Maiar?

The APR is dynamic, as it depends on multiple parameters like what is the total stake in the network, what amount is top-up, etc. Joining the telegram channel would be relevant if changes happened to the SP and you want to know the reason, or you want to know what are the future plans and targets of the SP (they might want to acquire a certain level of topup stake, which will lead to a different targeted APR) and there might be also other incentives besides the APR shown in Maiar to stake with a certain SP.

It would be difficult to show all these customizations and predictions on where a SP might be headed to, so if you need more info besides what is the current return for a staking pool you can do that going to the SP resources.

If you are not happy with a SP you can always undelegate your funds and delegate to a different Staking Provider.

This makes the SP more reserved when planning any changes of the Staking Pool parameters, as he might lose delegators.

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"If you are not happy with a SP you can always undelegate your funds and delegate to a different Staking Provider. "

If I had, say, 2000 EGLD, the 10 days without rewards (and...I don't know, without MEX, too ?)  would make it quite difficult to consider changing the SP too often ("always" ), even when I had serious reasons.

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  • 2 weeks later...

I must say, I've been happy with PalmTreeNetwork for staking, seem the advertised staking rewards for most validators are higher than what you actually get. 

 

At least with palm tree ive been getting 16%, with the other I've staked with its been 8-10% and thats with a lower fee. I guess they wont have a better APY until they are able to acquire some more nodes, wish I would have known this in the beginning, may have chosen differently. I plan to stay staked with these other providers until the initial weeks of MEX distribution are over then, I'll look for a different validator. 

I believe in ELROND the project, just been disappointed in the difficulty in receiving rewards, when I 1st staked I was placed in the waiting period and bought a large bag of EGLD due to believing in the project and it offered at the time the 29% rewards. Never saw those rewards due to the demand for a delegation spot. In the long run glad to be invested in one of the most promising projects in blockchain.

 

Hopefully Legacy delegation will release some of their nodes so other validators/delegators can get a decent APY in the not to distant future. I believe also, PalmTreeNetwork released some of their nodes released freed up some of their nodes so other validators could utilize them, in the hopes that other Validators with a large node count in relation to their stake might do the same to give some balance. Doesn't look like that has happened quite yet. lol

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