I think the pNode staking explanation could use an overhaul

You like these quoting skills? :sunglasses:

True enough, hmm, so the 1750 is mainly meant to be a roadblock.
Some people are wanting some way around the 1750 PRV to set up a vnode, saying it isn’t fair or something, when in reality it’s kind of set up to be that way, only for the real “go-getters”?
If so, it needs to be marketed that way, no beating the bush, just straight up-“this will not change”, why you ask, “because we don’t want non-serious people easily earning all of the rewards, the easy ones can plug and play with the pnode”. Something like that?

3 Likes

I’d much prefer steak.

On a more serious note, not to sound like an absolute tool, but it’s an industry term. We definitely don’t want jargon to inhibit the layfolk, but staking is a relatively well-known process in crypto, and we wouldn’t want to exclude the people who know it either. @Jamie wrote a pretty great dictionary that we can add it to if it’s not there, and maybe do more to keep that post front and center.

As for the quoting, I’m jealous of your skills.

4 Likes

Okay then steak master, let’s flush it out, so we don’t have anymore misnomers with some people getting confused over it being a loan or not.

What specifically are we trying to say that happens with concerning this name? What does it say to a person when they glance at it?
We want people to understand it is not a loan, but paying for the “hardware” and the “ability” to earn without putting too much time or effort?
So how about, “effortless staking”?
“Passive staking”?
Those seem to get the point across, right?

4 Likes

Ah!
Effortless Funded Staking.
Everyone, please hold your applause and donations, I do this for you, not for me :male_detective:‍♂

5 Likes

Well, that’s what I understand. I’ve probably said this before, but just in case anyone is thinking of betting their firstborn child on something I’ve said, I’m not an expert, so don’t.

The people who are probably asleep in Vietnam right now can better address this, especially the purposes for providing stake. I will say though, I’m all for being upfront, so I tentatively agree.

As for changing the term, I also cannot outright agree to any of it.
So I’m officially, temporarily taking my admin hat off.
But this thread is the start.

If funded staking can’t work, passive staking is pretty good.

Edit: Just saw “Effortless funded staking”. It’s a little long, but it’s definitely headed the right direction.

2 Likes

EFS, good buddy, EFS.
Gotta get back to my normal job now :rofl:

1 Like

Can’t believe I didn’t see the acronym. And ah right, I forgot jobs exist. Since quarantine, there has been no distinction between work and non-work

3 Likes

A fixed fiat price as opposed to 1750 prv would be ideal.
(1750 prv x $0.13 was $200ish back early on. Now its 1750 x $0.83 is $1452…)

so :man_shrugging:

2 Likes

With the discussion going in all directions, what are we trying to solve here?

The process of unstaking, the description, or the name?
Or something completely different?

1 Like

My post on clarity has become unclear, #thwarted!

I think the name and explanation of default pNode behavior is unclear. I’m suggesting reworking the name and description.

2 Likes

How about “rented staking” or “leased staking”? The capital does not belong to the node owner but once the capital is staked, both parties (node owner and network) win.

1 Like

Lol…:rofl:

Lol…:rofl:…“steak master”…uh…good one there…shame on you…lol…just kidding…:wink:

1 Like

What I suddenly feel like doing is putting a proverbial…“stake”…thru this whole business…lol…but no no…Jamie is right…what is it exactly we are trying to do here we seem to have gotten a bit lost in these woods all the while looking for a specific tree…and on a side note…I vote Aaron keep his admin hat…he has been awesome all along all things considered…thank you Aaron

2 Likes

*Admin hat back on *
Thank you @Tempestblack :smiley:

This is gonna be so cool. I can’t wait for this!

3 Likes

As a noob I just want clarification. I’ve just staked my pnode with the necessary 1750 prv.

The advantages are that the split for transactions and mining is 100% mine as opposed to the 65/35 split with funded staking.

However the 1750 is now dormant (just sitting there not earning the 37% )

I have to weigh the opportunity cost of earning from mining vs the 37% or using the prv to add liquidity?

1 Like

Yes exactly.

  1. Funded stake on pNode + 1750 PRV in staking pool
    For each earning epoch, the pNode will earn ~3.82 PRV. On statistical average, a node (pNode or vNode, doesn’t matter), has 8-10 selections per month. So maybe ~38.22 PRV (3.82 PRV x 10 selections) per month. Selection is random by design, so you may be selected much more than that OR much less. It is NOT consistent or predictable AT ALL. Meanwhile your staked pool PRV will earn around ~45 PRV before compounded interest. This earning is consistent and predictable. This brings your monthly total to around ~83 PRV per month (before interest). Around 55% of that will be consistent & predicatable from month-to-month (the staking pool earnings). The other 45% will ebb and flow with the random committee participation.
  2. Privately funded pNode
    The node will have the same random committee participation. But each epoch will now earn 10.92 PRV instead of ~3.82 PRV. So the same average number of earning epochs per month will earn you 109.2 PRV instead of ~38.22 PRV. Again this is highly dependent on random selection that can occur at much lower or higher frequencies than 10 per month. 100% of your earnings will ebb and flow with that random committee selection.

The choice may be whether you want some consistency in your earnings or you want to maximize your per epoch earnings regardless of consistency.

1 Like

Building on what @Mike_Wagner said, it never hurts to diversify. If you put 1750 into the node, you could then reinvest the node earnings into the staking or liquidity pool. That way you can take advantage of both the higher random interest and the lower fixed interest.

3 Likes

At risk of being late to the party and staking a dead horse…

What about calling it “Proxy Staking” instead of funded staking?
You get to use the DAO’s PRV by proxy.

3 Likes