Jump to content

Earning rewards through Songbird (coming very soon)


Seoulite
 Share

Recommended Posts

Does bifrost wallet have anything to do with bifrost.finance dapp?

Can we use bifrost web app to delegate using metamask?

Suggesting a mobile wallet forces a user to move their flare key to a mobile wallet

Edited by jargoman
Link to comment
Share on other sites

2 minutes ago, jargoman said:

Does bifrost wallet have anything to do with bifrost.finance dapp?

Can we use bifrost web app to delegate using metamask?

Suggesting a mobile wallet forces a user to move their flare key to a mobile wallet


At least one FTSO ( https://app.ftso.com.au/wrap ) let’s you wrap on their webpage with a connected wallet.

 

Instructions on using metamask are here:

https://www.ftso.com.au/how-to-guides/2021/09/22/wrap-unwrap-and-delegate-songbird-tokens.html

 

Link to comment
Share on other sites

OK it seems like this is operating in a similar way to the “power piggy” on Bitrue, where you have regular periods of opening and locking, and rewards are linked to the period.

So does this mean if you delegate you then to keep the tokens delegated for that epoch and not move them to get the full rewards? If you remove them earlier will you get partial rewards? This is very much like staking but without a lock.

Trying to think through the rationale of doing it this way…. maybe it is something to do with preventing malicious actors from manipulating the system…. maybe it is to prevent constant movement of tokens between providers that might overwhelm the system?

Link to comment
Share on other sites

1 hour ago, Seoulite said:

OK it seems like this is operating in a similar way to the “power piggy” on Bitrue, where you have regular periods of opening and locking, and rewards are linked to the period.

So does this mean if you delegate you then to keep the tokens delegated for that epoch and not move them to get the full rewards? If you remove them earlier will you get partial rewards? This is very much like staking but without a lock.

Trying to think through the rationale of doing it this way…. maybe it is something to do with preventing malicious actors from manipulating the system…. maybe it is to prevent constant movement of tokens between providers that might overwhelm the system?

This is my first foray into delegating/staking so if anyone has tips on a good cadence to use(on a weekly basis??) that would be appreciated. 
 

fair to say you can’t remain delegated on a provider for more than 30 days otherwise lose rewards anyway??

So what cadence to use for wrap-delegate-claim-repeat ?

Link to comment
Share on other sites

1 hour ago, BillyOckham said:


At least one FTSO ( https://app.ftso.com.au/wrap ) let’s you wrap on their webpage with a connected wallet.

 

Instructions on using metamask are here:

https://www.ftso.com.au/how-to-guides/2021/09/22/wrap-unwrap-and-delegate-songbird-tokens.html

 

I was able to wrap songbird, select 2 validators from a list and delegate 50-50 to each delegator then sign with metemask.

Simple, clean UI, user friendly, fast. 

I saw the ability to delegate XRP, XLM, doge, LTC, BCH for voting. Very confusing coin made incredibly simple on that one page. Good for the community to introduce these concepts slowly. I'm understanding the flare network ecosystem a lot better now and I have a good idea of what is to come. 

I have to say, this is awesome! I had to fight back the tears. This is one rock solid project. Wow. Better than tron, better than klaytn, better than tesoz. Even better than harmony. 

Jargoman approved 



 

Link to comment
Share on other sites

2 hours ago, Fireballseven said:

This is my first foray into delegating/staking so if anyone has tips on a good cadence to use(on a weekly basis??) that would be appreciated. 
 

fair to say you can’t remain delegated on a provider for more than 30 days otherwise lose rewards anyway??

So what cadence to use for wrap-delegate-claim-repeat ?

In short we don’t know. Once the exact time frames and reward structure are laid out I’m sure there will be people gaming out how to make the most rewards. Tomorrow they go live but it’s gonna take a few goes around before we really know what we are doing.

Link to comment
Share on other sites

2 hours ago, Fireballseven said:

fair to say you can’t remain delegated on a provider for more than 30 days otherwise lose rewards anyway??

So what cadence to use for wrap-delegate-claim-repeat ?

I may be missing something but isn’t the highest frequency best?   So weekly?   After the reward is available,  and before the next lock.  Doesn’t sound hard.

Missing for a while just means those rewarded SGB are not wrapped and busy earning their keep in a maximal way.  No biggee (unless the rewards are enormous).

Link to comment
Share on other sites

3 hours ago, BillyOckham said:

I may be missing something but isn’t the highest frequency best?   So weekly?   After the reward is available,  and before the next lock.  Doesn’t sound hard.

Missing for a while just means those rewarded SGB are not wrapped and busy earning their keep in a maximal way.  No biggee (unless the rewards are enormous).

But you can’t claim till after the epoch being live for 7 days, which I think means you would miss the boat for the following epoch. Hence my staggered theory which is probably BS 😂

Link to comment
Share on other sites

3 minutes ago, Fireballseven said:

But you can’t claim till after the epoch being live for 7 days, which I think means you would miss the boat for the following epoch. Hence my staggered theory which is probably BS 😂

Who knows,  but it seems to me that Thursday is the lock in and Saturday is the start and end of the epoch.  So each Sunday through Wednesday you can claim the previous weeks rewards and warp them into your existing delegation.

 

If you delay and do it after the lock on Thursday….   it just means that on that reward amount (which might only be small) you won’t be earning for a week.  Big deal.  You’ll still be earning on the main amount you’ve delegated.  

But having said that it sounds pretty easy to just claim sometime between Sunday and Wednesday and that’s as optimal as you can get.

Probably though this is much ado about nothing (or next to).   :) 

Link to comment
Share on other sites

1 hour ago, medon said:

I have delegated(yesterday) for this epoch and to avoid having partial rewards when should I pull out and redelegate my WSGBs? Is it between 14:41 UTC Thursday and 8:41 UTC Saturdays? Please clarify. Thank you.

It's set it and forget it. You don't need to pull out and redelegate unless you want to change which providers you're delegated to.

The only thing you have to do is claim your rewards when they start coming in. It looks like if you don't claim them within 30 days you forfeit them and they go back into the rewards pool.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.