How to use 1750 PRV to stake on pNode

Previously pNode uses Funded Staking mechanism: The Funder provides 1750 PRV and gets 65% of the rewards, Node owner keeps 35% of the rewards.
Now pNode operator can use their own 1750 PRV to stake and get 100% of the rewards. Here are the detail instructions:
1/ Stop using Funded staking mechanism

On the Nodes screen, tap on the three-dot icon

Image from iOS (22)

Choose “Unstake”

Image from iOS (23)

Tap “Unstake” to confirm the request

Unstake a Node Copy 2

Get back to the Nodes screen, it shows the status “unstaking in process”

Case 1 Copy

Once you complete the next earning, the process will be done. So, it might take for many days.
Also see: https://incognito.org/t/the-algorithm-of-probability-for-node-selection/836

2/ Use 1750 PRV to stake

On the Nodes screen, tap on “Stake”

Case 1 Copy 3

Confirm your information and tap “Stake 1750 PRV”

Wait for a couple of minutes and refresh the Nodes screen. It is good now

Case 1 Copy 2

12 Likes

1. The text on the modal reads "Unstaking will take approximately 48 hours."

2. Here the comment reads "for many days"

3. Here the comment reads "Unstake happens after earning."

Could someone kindly and clearly articulate what the correct expectation is for unstaking a pNode? Right now there are three different timelines offered and none agree. This is very confusing.

Is the correct UNSTAKING timeline:

  1. 48 hours
  2. for many days
    or
  3. after earning
2 Likes

Hi Mike, the most accurate statement is that “Unstake process is done when the Node completes its earning cycle”. To have your Node unstaked, it must join the committee again first, then get kicked out. This works for both vNode and pNode.
So, “Unstake happens after earning” and “It might take for many days” are also correct explanations.
I think the term “48 hours” is a bit confusing. I will discuss this with @henry to improve this asap.

4 Likes

Thanks Peter. After earning was my expectation; which was why I was very confused when the in-app modal reads “48 hours” in your screenshot.

This should be a high priority item. I forsee upset and/or confused validators trying to understand why their node hasn’t unstaked after “48 hours” only to be told something completely different upon inquiry (ie. “after earning”).

The modal only needs to state that unstake will happen after earning. It doesn’t necessarily need to elaborate that period could be 12 hours, 48 hours, one week or in @Jamie’s case 23 days. I would expect most validators using the unstake process will be familiar with the earning cycle intervals. Attempting to estimate that period will just continue to create confusion.

3 Likes

Hi Mike, this is changed in the update 3.6.4. Thanks for your idea.

1 Like

@Peter:

Is it possible to stake 1750 prv at the beginning when the pNode is being set up?

This way there is no delay in staking?

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Has anyone unstaked their pnode and funded the required 1750 prv?

How has the experience been in terms of now being rewarded 100% rewards?

And is it worth it? I know personally whatever i earn from my node i originally staked in myconstant but I transferred all of it to the incognito staking app…but the idea of receiving 100% as opposed to a locked in 35% sounds appealing

I would say stake it yourself your missing out on 65% of the payments. Or leave it funding like that and start a Vnode.

1 Like

There is no difference in getting selected to earn, between funded staked or own staked Nodes.

This means, whatever you earn now will be about 3x as much as.
There is no change in any of the other metrics.

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How do you know if it’s successful after completing this procedure? Would be nice if there was a confirmation somewhere that the 1750 PRV was successfully staked. Guess I have to wait until I get my first reward before I see any difference at all… Cheers…

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When the node has not been staked yet, the “Stake” button shows up. After staking, it is gone. But I get what you are saying.

@ning

5 Likes

Do we keep the 35% meaning we need to add 65% in prv? or do we have to put the 1750 no matter of the 35/65 ratio?

The 35%/65% split is for an Incognito funded stake on the Node. When someone buys a Node, it will come pre-staked with 1750 PRV. Even though this 1750 PRV comes loaded on your Node, you do not own it. Incognito is providing the stake to lower the technical barrier to entry for the Incognito system. For the convenience of this funded stake, your earnings are automatically split 35% to you and 65% back to the funded staking pool. This funded stake is not a loan, nor rented, therefore there is no payback. The earnings split will remain in effect as long as you have the funded stake on the Node.

If you would like to keep 100% of the earnings, you will need to unstake the Node. The 1750 funded stake is returned to the funded staking pool. Once unstaked, you would then privately stake with 1750 PRV. You can buy the needed PRV on the pDEX, or use your PRV earnings or even a combination of both. However you will need to provide the full stake of 1750 PRV, no matter where you source the PRV. You cannot stake less (or more) than 1750 PRV on a Node.

Once you’ve privately staked the Node, you will keep 100% of the earnings and will no longer split the earnings.

5 Likes

I don’t see why anyone would unstake then… Better stake on a Vnode!

1 Like

Hi Mr @Mike_Wagner
I’m keeping this explanation for future inquiries. If this isn’t clear enough explanation I’d be concerned for their safety. :joy:

1 Like

I’m licensing the post out for 10 PRV per month. Unlimited use.

 
 

20 PRV per month if you want correct spelling and grammar too. :rofl:

2 Likes

You deserve it :joy::+1:

1 Like

Hi,
I received my new node a couple of days ago. It has neither Unstake in the 3 dot menu, nor a Stake button.
Any suggestions?

The Unstake option will not appear until after your Node enters committee for the first time. The Unstake option will not appear until after the Node is funded 1750 PRV to begin staking (thanks for the clarification @Peter).

The Stake button won’t appear until after you’ve successfully Unstaked your Node. Unstaking only happens once a Node enters committee.

In essence, you would need to wait for your first earning cycle. Tap the Unstake option in the menu. Wait for your Node to be selected for a second earning cycle. Once selected to Committee (and then kicked out as part of the Unstaking process), you can tap Stake in the menu and your Node will be staked with your private PRV stake for full earnings.

Note – you don’t need to Unstake then Stake however, to use your Node. It will receive a funded stake out-of-the-box, for plug-n-play operation.

3 Likes

Thanks, that makes it nice and clear.