FAQ
How much is the staking reward (interest rate)?
The theoretical maximum is 60% per year.
However, this requires optimum block sizes (within the wallet), perfect luck and a wallet that is open 24x7 so your likely reward will be lower.
However, this requires optimum block sizes (within the wallet), perfect luck and a wallet that is open 24x7 so your likely reward will be lower.
What affects staking?
1. How many coins you have in your wallet – more coins will create greater rewards, its a percentage after all!
2. Coin age – coins need to have aged for at least 5 days after they were last moved (e.g. to a new address) before they will start to stake.
3. Block size within the wallet – the optimum block size is around 4,000–6,000 coins per block. This size ensures that the blocks have sufficient weight to generate rewards but are not so large that they will exceed the max subsidy (200 V per block). See the Coin Control section for details on how to adjust the block size.
2. Coin age – coins need to have aged for at least 5 days after they were last moved (e.g. to a new address) before they will start to stake.
3. Block size within the wallet – the optimum block size is around 4,000–6,000 coins per block. This size ensures that the blocks have sufficient weight to generate rewards but are not so large that they will exceed the max subsidy (200 V per block). See the Coin Control section for details on how to adjust the block size.
Why is there a max subsidy?
The max subsidy encourages more, smaller blocks which helps maintain security of the V network.
How do I start staking, and how long will it take for my coins to stake?
PoS mining (in effect interest) will start 5 days after coins have been sent to your address (you can keep your wallet closed for these 5 days; though of couse not if you have other older coins which you want to stake).
When your coins reach 5 days old, they are mature and start to gain staking weight.
Open your wallet, if it is encrypted unlock it for PoS only (this option is in the Controls menu), leave it open and wait. Small blocks will take a long time indeed they may never stake as their weight will be insufficient compared with the overall network weight.
At the moment the optimum block size is around 4,000 – 6,000 V.
It is impossible to predict exactly when a given block (or blocks) will start to stake, but the more weight your block has (and the more you are able to keep your wallet open), the better your chances.
When your coins reach 5 days old, they are mature and start to gain staking weight.
Open your wallet, if it is encrypted unlock it for PoS only (this option is in the Controls menu), leave it open and wait. Small blocks will take a long time indeed they may never stake as their weight will be insufficient compared with the overall network weight.
At the moment the optimum block size is around 4,000 – 6,000 V.
It is impossible to predict exactly when a given block (or blocks) will start to stake, but the more weight your block has (and the more you are able to keep your wallet open), the better your chances.
How do I adjust the block size?
Within the wallet first click on: Controls > Options > Display tab and then check “Display coin control features (experts only!)” and then click OK.
Go to the “Transfer [V} bank notes” screen in the wallet – the coin control options will now be visible.
Click on the “Coin Control” button. Wait. If you have a lot of coins in many blocks it may take a few minutes to load.
Once loaded you will see a list of all your blocks, the number of coins in each block, the weight, the age, the address, etc.etc..
Example: how to consolidate all blocks that have fewer than 1000 coins to larger blocks:
Remember all the coins that you just moved will need to mature again – another 5 days.
Go to the “Transfer [V} bank notes” screen in the wallet – the coin control options will now be visible.
Click on the “Coin Control” button. Wait. If you have a lot of coins in many blocks it may take a few minutes to load.
Once loaded you will see a list of all your blocks, the number of coins in each block, the weight, the age, the address, etc.etc..
Example: how to consolidate all blocks that have fewer than 1000 coins to larger blocks:
- a. In the drop down select “Amount <”
- b. In the window enter “1000”
- c. Click select
- d. Wait!
- e. After a short wait you will see the relevant blocks with check marks against them and the total amount of coins affected at the top
- f. Click the OK button to close the window
- g. The coin control window will now show the number of blocks affected (“Quantity”) and the same amount of coins in the upper “Amount” field
- h. Check the “Splitblock” checkbox
- i. In the “#of blocks to make:” box enter a suitable number – the resulting blocksize will be shown to the right
- j. Once you have decided on the appropriate number of blocks (and hence the size) enter one of YOUR OWN addresses in the “Pay To: field”
- k. Enter the “After fee:” amount in the “Amount:” field
- l. Click “Send”
- m. Check the details are correct and confirm
Remember all the coins that you just moved will need to mature again – another 5 days.