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 I’m not just overlooking these specifics on the live app, hopefully the developers are working on ultimate transparency.
Is this not just “total earned fees available?”
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.
You are missing something. Or maybe need to update the Dapp? It’s all listed and described under Bitocracy. at:
Related, and more pertinent questions to me, are:
- Which not-yet-unlocked tokens have voting rights? (Dev fund, founders, adoption fund, ecosystem fund, etc.)
- Are these voting rights delegated (and to whom)?
- Are there not-yet-unlocked tokens receiving staking rewards…? (because considered staked in Bitocracy)
- And which of the tokens that unlock from these funds are staked, and hence receive voting rights and staking rewards.
I’m just trying to wrap my mind around the current realities of voting and staking. It’s puzzling to me.
Ok thanks guys, my total earned fees section remains at zero. I’ve 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 charged… how often do you see your earned fees increase? Daily? Weekly? Monthly?
That’s because the rewards are super low. I have earned about .005% on 2 months of staking. You are better off doing farming for better gains.
Oh wow, I didn’t realize how low it was. Thanks for the info. If you don’t mind me asking, how much SOV did you stake? I have staked 63…
Roughly 100x that for the 3 years.
Yep what the point for small investors to secure the protocol by staking, when rewards are not even cover the tx fees for voting ?
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 you’re 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.
Staying SOVRYN, for now
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 BlockFi…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 don’t have more money, this isn’t 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 “in-out” 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 wouldn’t 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 doesn’t 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 here…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.
Completely agree onboarding here in September. Why is there no chart like the yield farming, lend & borrow pages showing average return?
Not sure if this is what you’re 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. You’re prob inquiring about a chart for staking returns. Hopefully it comes soon enough, apparently they’re working on it.
@trustno1 - do you mean a chart for the staking rewards? It is something that needs to be developed.
Yes, exactly stake page: Bitocracy → Stake → ‘Total earned fees Available.’ 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.