Question about the 1750 PRVs required to stake

Is there any circumstance that can change the minimum requirement of 1750 PRVs for staking? Or is it a constant for the incognito blockchain.
If its not constant, am interested to know what scenarios can change this amount.

2 Likes

Hi @krauq if you want to stake a Node, 1750 PRV is a fixed value at this moment.
What are you going to do?

1 Like

The 1750 is a fixed amount to fund a node which is required for staking, however there are other options.

  • You could use provide in the incognito app, however the returns are a bit less.
  • You can buy a physical node. It comes pre-funded and doesn’t require you to put up the 1750 PRV, however the dev team gets a percentage of the earnings. You can decide to fund the node yourself, but that would require the 1750.
  • You can crowd source a node, I believe there are some places that host virtual nodes where you can earn a return by putting up your PRV with a bunch of others.
3 Likes

I already have a vnode. But i dont find it benefitial. It has generated 19PRVs in first 3 weeks when it was selected once.
Next cycle of 3 weeks completes in next 2 days, and it hasnt been selected the 2nd time.
Even if i does get selected, i dont expect it to earn more than 20PRVs (? correct me if i am wrong in assuming this).

So i consider to unstake and switch to provide, which will earn me ~1PRV /day at 21% APY

So in doing so, my concern is that, if i change my mind, and would like to restake, what are the chances that the requirement of 1750 increases to some bigger value?
What rules does the incognito protocol have which determines this PRV stake?
is it variable in the same manner that the APY is?

1 Like

It has been 1750 PRV from the start, I don’t think this number will ever change.
As for the returns, over time, the returns are supposed to be bigger for staking. But I guess there is also an element of luck in it.

3 Likes

replace luck with patience

Hiya @Revolve…hope all has been good with you… but I am curious about the issue @krauq raised about the amount of the self funded stake of 1750 not changing…I can attest to what you stated that the figure of 1750 has remained the same since it’s inception but could indeed that figure change in either direction based on say for instance the price of PRV?

I would also like to know if this 1750 PRV figure will ever be subject to change as well. It’s a reasonable number with the price of PRV being relatively low - but once PRV reaches anywhere above $10/coin it’s like holy shit this is insanely difficult to achieve and might phase several people out entirely.

I would propose some sort of tiered system, especially as the price of PRV continues to rise.

1 Like

@Tempestblack @walkonwayvs

I’m not sure if the amount to stake will change. I’m sure if there was a enough support from the community, and it wasn’t too complicated of a change on the development side, there is a possibility it could happen. However the higher the price is to stake, the more likely people will buy a pNode from Incognito themselves because it’s pre-funded. At the end of the day, development for Incognito isn’t free. I suspect that eventually the pre-funded nodes will be crowd-sourced which will bring down the cost for everyday consumers and have a new avenue for profits. I don’t think the actual amount of PRV will change, just the mechanisms in place. Once provide is fixed up, we will most likely need a new way of earning high returns. I think crowd-sourcing pre-funded nodes will be the next step. As the price of PRV goes higher, it’s more attractive to go that route.

I’ll tag @andrey to see if he wants to provide any input on this.

1 Like

Hey @Revolve…thank you for your input on the topic…it is much appreciated and well my question now is how would this crowd-sourced funded pnodes work and what possibly would be the apy or earnings potential on them?.. :sunglasses:

I feel like since the beginning the expectation was that the price of PRV would increase thus in rewarding the original owners that put in their investment earlier in the project to stake their node. As with any crypto or stock that increases in value over time, would bring back more ROI in the long run. However with the price of PRV constantly going up, it would make it more difficult for new node owners to stake their own node. If they were even able to change the metric, it may not help you in the long run. Say if 1750PRV =100% and you wanted to put in $1500 staked, at $3/PRV, you’d have 500PRV staked. Which would be 500/1750, roughly 28.57% of the normal profit you’d be making. It would be more trouble than actual worth to have them alter this metric. You’re better off with using provide or using the unstaked node IMO.

I know there is a community that currently crowdsources vNodes. I haven’t seen anything official though about pNode crowdsourcing.

What community crowdsources nodes? Do you have a link ?

Dear all,
I had hit unstake on 27feb.
My node got selected today. Status is in committee.
I am still earning PRVs.
The Node status is showing as “Unstaking” in the incognito app.
Is this normal? Will I earn first, and then kicked out, and get back my 1750 PRVs?

It will be selected for 2 or 3 earning cylces and then it will unstake. All is normal here.

5 Likes

Yes, that was correct.
Earned and got back staked PRVs too.

2 Likes

@krauq… Glad to hear it all worked out and that @Stradimarius was correct in their response… :sunglasses:

2 Likes