But I still dont see any deposits into my wallet on Mondays.
Be sure to check your PDex wallet specifically. If you tap Wallet, then in the upper left tap the wallet name, a wallet menu will open. You can use this menu to switch to different wallets. Tap PDex and check for PRV funds.
If you don’t see any, let us know here, and an admin should be along shortly to help you.
There it is! Thank you. Like I said–total newbie here
I really appreciate your help.
You’re welcome! Some users will stake the PRV they earn to get an additional 57% APY compounded every second. It’s amazing and helps the network too.
If you’re curious how, just tap Home, Stake PRV, and then tap the big blue Stake button. You can pull funds from any wallet, including PDex.
And two more really dumb questions.
*when I check my liquidity balance, I have fewer estimated pairs than I have contributed. Why would that be?
- How is the Pdex wallet different than my main wallet. I cant seem to deposit or do anything with those funds. When I go to deposit, my PDex wallet is not in the drop down.
I’m not sure why it shows less pairs than it should, so an admin will need to help you there.
To answer the other question, though, PDex is the private exchange. That’s where you can trade between different types of crypto; you can’t do this in the other wallets, not yet. If you do exchange, be sure to always use PRV as a middleman. For ex, if you are trading XMR for BTC, first trade XMR for PRV, and then trade PRV to BTC. You’ll get better exchange rates that way, and your transaction will be private.
The reason you can’t deposit PDex funds is because they are already in the PDex wallet. The deposit feature is used to add funds to PDex, and since your funds are already there…
If you want to move your funds from PDex, you would withdraw instead. You can also choose to stake the PRV funds using the process outlined in my previous message. It’s a great way to earn and power the network.
I have been staking all my funds. And that’s where the funds in the PDex wallet are coming from–my earnings. Just realized that the staking happens FROM the PDEX wallet. You’ve been a saint! I jumped at the chance to be part of this but have absolutely NO experience or understanding of the subtleties. What I would really like to figure out is how to deposit some of my own funds in to stake them without a trace back to my US bank accounts…
You’re welcome! I should clarify something though. Staking and providing liquidity are different, and occur within different accounts (that all have their own wallets).
For providing liquidity, you can do that through PDex only. This adds funds to the trading pool, so that when people trade, there are liquid crypto assets in the pool that they can draw from. That way, when I trade PRV for XMR for example, there’s actually XMR in the pool for me to acquire. If I provide liquidity, I earn rewards, which are deposited directly into my PDex wallet. From there, I can do what I want with those rewards.
Staking, on the other hand, only takes place in the pstake account. Basically, you are adding PRV utility coin to the validator network, to help validate transactions in the PDex. You earn rewards for this too. You can start staking on the Home screen by tapping Stake PRV. When you stake, you can choose any wallet to pull funds from, including your PDex wallet (where your liquidity rewards are). Once funds are staked, they start earning 57% APY. You can always withdraw funds from stake if you want, and you can withdraw into any wallet (including the PDex wallet).
So adding liquidity and staking are two completely different things? Do they earn different rewards? What is the difference to me? I’m so confused now
No worries! Crypto is a complicated topic in general. To answer your question, staking and providing liquidity are different. Providing liquidity ensures people can trade cryptos on the platform. Oppositely, staking uses your PRV coin to support the operations of the Incognito blockchain.
Here is a little information on both and their separate rewards.
Definitely starting to understand some of the differences and subtleties. Again, thank you for taking the time to help point me in the direction of all the info. I’ve also been searching this forum and reading a lot. I currently have just a PNode, obviously. Am I currently able to fully stake my pNode if I chose to?
Hey, @Jzc thanks for the feedback. The devs already working on better and more intuitive UI. We plan to release a new version of DEX UI this month
Here is a quick instruction, how can you check your liquidity balances here How to view or remove your liquidity contribution on pDEX
Rewards. Every Monday at 16:00 UTC we distribute rewards for the past week. It should land directly on you your pDEX wallet and you get a notification when it happened.
Both these steps are a temporary solution will be improved with a new release.
I received 10 PRV mining reward this morning (around 9 uht). Is that the LP reward?
yep. Rewards are sent out on Mondays so pretty sure what you received was from liquidity.
Sharing 1800 PRV + équivalent in XMR 1 full week, supporting PRV market = 10 PRV reward? I guess no…
$1.42 a day doing nothing. not the worst in the world. (just sayin).
Its suppose to get larger (the reward) over the summer/fall and into next year.
I turn my rewards into stable coin (half of it), then liquidate it again. (rinse and repeat)
Few posts before, i wrote that i was a little bit disappointed with LP rewards.
According rewards, today i want to tell how happy i am to stake PRV.
Let’s support Incognito up to the sky!
We are happy that you feel happy with Incognito
Hi @Tranbr somehow missed your comment. What was your calculation, expectation? please share your numbers, we’ll double-check if there is an any mistake.
@andrey don’t worry i was surprised by the difference between the reward for a week and for the week after.
Right now i’ve found my place, staking PRV