FAQ
What makes your service any better than the rest?
I don't just start a wallet and enabling staking - I use custom services to make sure that your contracts get every possible chance to hit to stake. This includes chain fork detection and correction along with automatic handling of wallet errors that might pop up before an official fix is released (such as the time when you had to manually abandon failed stakes). I also have a real-time logfile feed going to my desktop so I can personally maintain a watchful eye on performance. As far as I know, no other provider goes to such lengths to ensure that your coins are not only constantly staking, but properly staking as well. I'm also extremely easy to find and quick to reply via Discord/Telegram/Contact Form if you have any questions or need any help.
What is the "Owner Address" box for?
When you normally create a contract your funds are actually sent to a newly created change address that you own. By generating and using a dedicated address to hold your LPoS contract funds, you can "top up" your contracts by creating additional contracts with the same "Owner Address". My LPoS service is currently set to split contracts over 11K coins and combine contracts until they total at least 5.5K. Example: You setup a contract with 3K coins and use an "Owner Address" that you've generated with your wallet. 2 days later you end up buying 500 more coins. Instead of canceling your 3K coin contract and creaing a new one with all 3500 coins and being forced to wait for the required 200 confirmations, you can create an additional contract with the same "Owner Address" for the 500 coins. The next time either amount stakes they will be combined into a single contract of 3500 coins (plus whatever rewards you've gotten).
What is the difference between using Bech32 and a Standard (P2SH Segwit) address?
In order to participate in the NIX Platform Off-Chain Governance, you must stake from a Bech32 (nix1*) address. If you don't intend to vote, I recommend that you use a Standard (P2SH Segwit) address because one of the requirements for a proposal to pass is that at least 50% of eligible votes are cast.
Is there a minimum amount I need to stake?
Nope. Whether you are staking just a few or a whole bunch, you can rest assured that you'll get the maximum amount of uptime possible without having to run your own staking wallet 24/7.
How many coins per day can I expect?
It doesn't quite work that way. Current stake rewards are approximately 2.5 NIX per block and the more coins you have actively staking, the more often you will get that reward.
Is there an optimum number of coins that get the most stakes?
Because of the 200 confirmation requirement, large amounts of coins won't catch as many stakes as they should. While nobody can say for certian what the perfect amount is, my opinion is that between 6K and 7K seems to be the sweet spot. Because of this, all contracts over 11K will automatically get split to help ensure your coins get as many stakes as possible.
How good is your uptime for staking coins?
So far, 100%. My primary, dedicated server is centrally located in the US and connected to multiple internet fiber optic backbones to ensure the fastest propagation of newly discovered blocks (stakes). Even if a wallet upgrade requires a blockchain resync or I do a system upgrade, I have an entirely separate backup server that will take over if the primary service ever experiences any amount of downtime.
How can I check to see if I'm getting stakes/rewards? There are 2 ways to do this:
- Open your wallet that contains the contract for the coins I'm staking on your behalf and check your transactions list.
- Use a block explorer to monitor your balance. If you created your contract with an "Owner Address", simply plug that into the explorer. If you did not use an "Owner Address", you can find the proper address to monitor by:
- Opening the QT Core Wallet and enable coin control under 'Settings|Options...'
- From the Send tab, click on the "Inputs..." button.
- Right click the address that contains the amount of coins you are staking to copy it. (HINT: They will appear with a padlock symbol)
Are my coins added to a pool?
No, each contract is staked individually.
Does your fee take 5% from my entire contract?
The fee only applies to the stake reward, not your entire contract. This currently works out to you getting about 2.4 NIX per stake while I receive about .125 NIX.
What happens with my stake rewards? Where do they go?
Your rewards are automagically added to your contract which increases your chances of finding a new block without you having to do anything at all.
What happens if you decide to discontinue this service?
Because I am not able to cancel your contract, the only way I can alert people to this highly unlikely event is by announcing it on this site. But honestly, I have absolutely no intention of ever doing so.
