Forum Posts

The Architect
Apr 18, 2021
In Elrond Staking
APR refers to the simple interest accrued from a particular investment over a 1 year period. APY refers to the compounded interest accrued from a particular investment over a 1 year period. APY reflects more accurately the expected yearly returns of that investment. More info about compounded interest here.
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The Architect
Apr 13, 2021
In Elrond Staking
The rewards can vary each day, they are not fixed. Every day only 50% of the nodes are generating rewards. This is how Elrond blockchain works. So there are days with higher rewards and days with smaller rewards. But on a timeframe of 3-4 weeks you will see the reward rate will be closed to 18%-19%. Here is the longer explanation: Each shard has 800 validators assigned to it. 400 are eligible and 400 are waiting. The ones waiting are showing with a clock in the explorer. Round time, is the time measured in seconds required to create successive blocks on the Elrond blockchain (6 seconds). In each round, a new consensus group is selected using a randomness source that can be neither predicted, nor influenced. The consensus group consists of 63 members. So, it follows that not all validators are in a consensus group at all times. Validators who are in consensus must do the work required to prepare and sign blocks, and must complete the work within 6 seconds. A rating system is used where the rating is increased slightly each time work is successfully submitted, or the rating is decreased slightly if the work is not submitted on time. The default rating for new nodes deployed to the network is 50. Rating will increase over a few days until it will finally reach 100. If a validator node goes offline, it will obviously not be doing it’s work, and so the rating will decrease. If the rating is ever decreased to 10 or less, the validator is taken out of service and a new one is taken from the validator waiting queue. The epoch time is 24 hours. At the end of each epoch, 80 validators from each shard (total 320) are randomly selected and shuffled randomly into each of the 4 shards. The validators that were shuffled are put on the shard waiting list (showing with a clock in the explorer). Validators will spend 5 days on the waiting list until being selected again to be eligible. During the waiting time, the validator details page in the explorer will show “not in consensus”. Over time, the amount of time spent in the shard waiting list and the amount of time spent in the shard working will average out to 50/50. This is the normal operation and lifecycle of a validator node. As long as the rating is increasing toward 100, the node is doing its job and rewards are being generated and credited at the end of each epoch where the node was active and not waiting.
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The Architect
Apr 08, 2021
In Elrond Staking
You will be able to claim rewards from the app (if you used Maiar) or from the web wallet. Every 24 hours new rewards become available to be claimed. You can claim them when you want. If you don't claim them you don't lose them, they will stay there waiting to be claimed. There is no way to automate the claim of the rewards. Keep in mind, you can stake the rewards as well so you can compound the rewards and increase the overall rewards received. There is NO minimum of EGLD when you stake/compound the rewards (as opposed to the 1 EGLD minimum when you stake). When staking rewards please consider the fees involved for the transaction itself (less than 0.001 EGLD). Please see the following image for a calculation made by the community regarding best scenarios around compounding rewards. The rewards for the first days are smaller; we have to wait until more nodes are activated. By the 10th of April most of the nodes will be active and your subsequent rewards will be higher. Also Elrond is removing 363 nodes in the following days, making room for more nodes to be activated and when this happen the APR will get closer to the current estimated target: 19%. Keep in mind that by staking your rewards and by compounding them your actual final APR can be higher with up to 3%, so close to 22%.
Elrond Staking Update: About rewards and APR - 8 April 2021 content media
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The Architect
Apr 01, 2021
In Elrond Staking
On 30th of March, Elrond announced some changes in regards to their upcoming network upgrade. Due to increase demand from the community, more nodes than anticipated initially were receiving delegated stakes from the community. New validator slots and nodes were quickly filled by the community. In order to accommodate this demand, Elrond will reduce the number of nodes run by them, making more room for nodes run by staking providers and the community. This is very good news for everybody and it basically mean that we will be able to provide an APR of around 20% as initially promised. Based on this information we are able to run some estimation on how things will look like. By running this estimations we can now say that: PrimalBlock is offering the best APR on Elrond network and is one of biggest staking providers in terms of amount staked to us. Here are some stats for those interested (as of 1st of April 2021): Contract Address: erd1qqqqqqqqqqqqqqqpqqqqqqqqqqqqqqqqqqqqqqqqqqqqqx8llllsxavffq APR: 19.93% Max delegation cap: 160000 eGLD (96.5% filled) Nodes: 60 active + 1 staked Delegators: 713 Total active stake: 154467 eGLD Top-up per node: 74 eGLD Service fee: 10.00% Thank you for your ongoing support and contribution.
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The Architect
Mar 27, 2021
In Elrond Staking
On 26th of March, Elrond network was upgraded to support more nodes (an increase from 2169 to 3200 nodes) and staking pools, so that eGold holders can delegate their stake towards different staking providers, like us. In less than 24 hours, we see already that more than 250 people delegated to our staking pool: PrimalBlock, more than 140 000 eGold ($21m at current price). The additional 1031 nodes will gradually start becoming active on 5th of April. Here is the exact timeline: On April 5 ~14:30 UTC at epoch 249 the nodes from the Validators Queue and newly deployed staking pool will become Validators and be placed on the waiting list. This will happen in the order they have been added in the Validators Queue and staking pools, which is in effect a single queue, serving new nodes on a first-come, first-serve basis. On April 6 ~14:30 UTC at epoch 250, 320 new nodes (80 for each shard) become Active Validators. On April 7 ~14:30 UTC at epoch 251, these nodes distribute their rewards towards their stake owners, whether directly staked or delegated, in effect producing the first rewards for Staking Phase 3. Also at this date and time, the next 320 new nodes become Active Validators, and so on. PrimalBlock has right now 100 validators nodes prepared to accept staking delegations. From those 100 nodes, around 56 nodes (at the time of the writing) are staked and on the Validators Queue. We estimate that around April 9 and April 10, around 40-50 nodes to become active validators. This mean on April 10 we expect first staking rewards to become available to be claimed. On medium term, our target is to provide an APR around 20%. The APR depends on many factors, some on our direct control, some we do not control, like how the queue will progress or how other validators will choose to deal with top-ups, etc. On short term, what we will do, so that we are as close as possible to our target APR, is to lower our fee if needed (even to 0% for a period of time) or un-stake some funds and nodes so that the optimal ratio between active validators nodes, amount staked and top-ups is reached. We expect in the next 2-3 weeks things to stabilize and have a better understanding where we are. Our promise is that we will optimize things so that we can offer the most competitive APR possible without compromising security and stability of our setup and of Elrond network. Thank you all for your support and trust! PrimalBlock Team.
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The Architect
Mar 23, 2021
In General Discussions
Welcome to PrimalBlock's forum. In order to make your stay as pleasant and constructive as possible please take your time to read through this document, it will help you navigate the pits and traps this community has created for new members. 1. Read up before asking! Chances are your question has already been answered. 2. Respect the netiquette: Lurk and get to know the forum before you post. 3. Keep the focus: Questions outside the scope of a certain forum will either be moved, locked or simply be deleted. 4. Be nice to each other and respect the moderator. Profanity and insults will not be tolerated. If you have a problem with another member turn to the respective moderator and if the moderator can't help you please contact us. 5. Do not spam. No blatant advertising. 6. No cross posting. Post your message once, to the appropriate forum and nowhere else or it will be locked or deleted without warning. 7. Use a title that describes the content of your post. Don't use all caps or special characters to draw attention. 8. Do not send questions pertaining to topics of discussion on this board via personal messages or email to Moderators or Admins, they will be ignored. 9. Don't post just to increase your number of posts. If you have nothing to say on a certain matter then don't post. The number of posts on this board has no direct relation to the experience of a member. 10. How NOT to post on this forum: 5 minutes after your initial post you reply to your own post writing something like "Why is nobody helping me? I'm sure you know the answer". 11. The official language is English.
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The Architect

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