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Earning rewards through Songbird (coming very soon)


Seoulite
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6 minutes ago, tulo said:

Of course not. There are only 800M SGB delegated. As soon as more people will join and more tokens are available in the market (airdrop from exchanges) the reward will drop proportionally. I'd expect at least 2-3B SGB delegated, which means around 50% APY.

Yes that’s what I thought but wanted to ask in case they had projections…

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52 minutes ago, FTSO_AU said:

All other technical aspects of our service is working great, which is really pleasing!

Yeah congrats on that.  Your services and pages seem excellent.

Thanks for those replies.  Your engagement here is both excellent and appreciated.

 

I’ve got to be honest here….    I have concerns about the wisdom of the FTSO system.   It seems possible that the feed could be gamed away from ‘true’ or simply drifts off ‘true’ because of quirks of providers chasing the reward.  Deliberate drift might enable attacks or games against smart contracts.  Accidental drift might have similar unintended consequences.

 

I suppose the proof of the pudding will be in the eating.

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14 hours ago, tulo said:

Of course not. There are only 800M SGB delegated. As soon as more people will join and more tokens are available in the market (airdrop from exchanges) the reward will drop proportionally. I'd expect at least 2-3B SGB delegated, which means around 50% APY.

Agreed. I see Bitso have just announced they’ll distribute once the network goes into Unresticted Mode, which is after State Connector Mode, which isn’t happening until … not sure when. 

I don’t think they’ll be alone. So yes, the rewards will slow over the coming X weeks or months.

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