Where can I see my stake earnings on the sovryn app?? How often are these earnings distributed? I would think this info. would be more transparent and easy to find on a democratized system.
Although I read the staking sections on the site, I am still not sure I understand what is actually going on. As I understood it, I would basically get a fraction of total sovryn fees in proportion to my voting weight. Is this correct? If so, where can I see this activity.
Also I could not find anything about how often the earnings were distributed to SOV stakers.
If Iām not just overlooking these specifics on the live app, hopefully the developers are working on ultimate transparency.
Yes I understand, but currently I cannot see anywhere on the dapp that I have earned anything for my staked tokens. Also, my staked SOV amount has not increased. Do earnings just add on to your SOV amount? Is there an earnings section? Am I missing something? Hopefully this is a true Bitocracy.
Lmk if you find out where I can see any of this info.
Ok thanks guys, my total earned fees section remains at zero. Iāve had the stake for a few days now so thought the earnings were shown elsewhere. I thought you instantly got your portion of earned fees as they are chargedā¦ how often do you see your earned fees increase? Daily? Weekly? Monthly?
Thx for the input guys. I agree with your point about not even covering voting. Would be helpful if the Sovryn team could express figures to people trying to join so they could get a realistic perspective on the strategies they want to take. I do understand it is early in the ballgame though. But transparency is always a key concern of mine.
If youāre trying to be the cutting edge of decentralized democratization in the crypto world, you should give people the full picture ahead of time by giving them access to analyze all the systems and numbers. I think the protocol should allow every SOV holder to see its fees as they are collected, in real time, along with the amount of holders/stakers/lenders/poolers, and the amount of tokens in circulation. I mean do we want to revolutionize the game as a true Bitocracy that could really be a gamechanger in the world, or do we want another decentral front with a very central inner group as always.
I really hope this protocol is all about the former, as that is the cutting edge concept that drew me to it and sets it apart from any other model I have come across.
I think the point is that as the platform grows that small percentage will be worth a lot more. Just think if you were getting that fee on a large exchange like Binance or as part of BlockFiā¦that would be significant figures.
Yes everybody says in long-term this is good, but how do we get people to stake when all other platforms give a lot more. We need liquidity here to move up. They said Yeld farming is reward, but the people who have invest all of their money and staked it and donāt have more money, this isnāt a reward. We will se what the team is willing to do now, if the team does not get the retail (small wallets) this will be a difficult project. I told a few friends about Sov and they ask me how much it gives, I said nothing in staking, YF is good but āin-outā of the RSK is expensive, so the people need juice to join in. I know that all people from presale is very happy now 2.5k sats evolution sale 10k origins very good profits, but is Sovryn platform for presale users only ? In the other topic here in forum this discussion continues and very good questions appears.
If I were to go back in time I wouldnāt have staked. I will be hit with worse inflation than the US dollar holding my staked SOV. The supply with have large increases over next 3 years and my returns are less than a Certificate Deposit from a bank. To top it all off it doesnāt seem like the coins launching on SOV are giving any real weighted value to stakers. i.e. The more value staked the larger allocation to newer coins. The lesson, provide liquidity hereā¦MUCH larger rewards and you remain liquid.
So true, really hope developers choose to recognize these obvious issues and either
a) Allow a temporary 1 week unstaking period without penalties.
b) Increase rewards for stakers to a satisfactory amount.
If you go on any crypto platform, their definitions of staking involve locking crypto into the platform for financial REWARDS. This is the definition of staking. If either crypto lock ins or financial rewards are not happening, you cannot call it staking, that would be misleading. Sovryn is not giving stakers enough to reasonably consider it financial rewards. Hence, thus far it is not really staking. We are just giving our money to an account that founders can utilize. Any different than JP Morgan savings account?
You also make a good point with the high inflation. I think now is about time for founders to decide how much they want to be a part of the Bitocracy. There has to be a plan to even out rewards if this dapp wants to remain attractive. If a Bitocracy is not really what this is all about, it will come to the surface fairly quickly and change the public view of the protocol.
Not sure if this is what youāre looking for, but the live.sovryn main page has lend/borrow APY rates and AMM pool APY rates. Is there something more specific you are suggesting by average return?
Ok, got ya. Youāre prob inquiring about a chart for staking returns. Hopefully it comes soon enough, apparently theyāre working on it.
Yes, exactly stake page: Bitocracy ā Stake ā āTotal earned fees Available.ā Somewhere in that section showing return % per SOV. Also, I would like to see the total paid across all sovryn users by asset class, similar to Celsius. I ended up staking a few as an experiment to earn yield before full DYOR and learned not much paid out as of today (but a principle for the future). More transparency is needed on staking returns or will lead to user frustrations since staking benefit is twofold: governance & yield.