Explanation Required on The New SmartRewards Programme


#1

Recently I noticed in SmartCash twitter that a new way will be implemented beginning Q4 i.e. now onwards for Smart Rewards. My questions are as below:

  1. How and how frequently should we vote for rewards eligibility?
  2. Previously, we can’t move balances / transact from the Rewards account; while needing to have a minimum of 1,000 SMARTs. How does it work now?
  3. Which wallet should we use?
  4. BTW, my QT Wallet is taking forever to connect to peers i.e. sync. Any help is welcome.
    5} What is the minimum vote amount?

I also hope that you will update your website with these information.

Thanks Smarties :wink:


#2
  1. How and how frequently should we vote for rewards eligibility?
    ==> at least one vote in cycle 90 days
  2. Previously, we can’t move balances / transact from the Rewards account; while needing to have a minimum of 1,000 SMARTs. How does it work now?
    ==> the same >1000 smart and don’t move in cycle 90days
  3. Which wallet should we use?
    ==> web wallet, node clients, electrum wallet
  4. BTW, my QT Wallet is taking forever to connect to peers i.e. sync. Any help is welcome.
    ==>update wallet to the latest version v1.2.6 ==> try snsync next in case it have issue sync smartnode data
    5} What is the minimum vote amount?
    ==>simple can you can think > 0 smart

#3

I cant have rewards with my qt wallet that have the smartnode ?


#4

You can receive smartreward with any kind of wallet that you own private-key and make sure hold enough time ( 47,500 Blocks ) without move any smart in cycle ( often around from 25th this month to 25th next month )


#5

Thanks for the reply. Sorry for my delayed reply too.

  1. Just to clarify that if I vote using the addresses qualifying for SmartRewards i.e. voting for 1 SMART with the balance of 1XXX Smart for example, does that mean that the address is not dormant anymore i.e. it’s disqualified from the Rewards cycle? Or has the new mechanism changed this particular rule?

  2. I noticed in the discord that there is a way to automatically assign our address to vote. Would be truly helpful if you could provide me (us) with the guide (link).

  3. Do I also have to vote with my SmartNode address to qualify for the Rewards? Will it affect my SN operations?

Thanks in advance for your kind input.


#6
  1. voting not affect your smartreward and it does not cost you any smart
  2. we not recommend to do automatic vote, we want user involve more and give opinion on community project
  3. voting not affect your smartnode too. with currently rule you don’t have to cast vote to be eligible for smartreward. In the next smartreward improvement smartnode will not receive smartreward

#7

Thank you so much for your kind explanation.

Btw, where do I vote? Didn’t see any proposals popping out in my Node Client; but I do see in my Android wallet.

I will give it a test with the android wallet first while awaiting your reply.

Thanks :slight_smile:


#8

Looks like there are no proposals to vote anywhere. Also checked at https://vote.smartcash.cc/Proposal/.

Please verify. Thanks


#9

Yeah seem right now don’t have any open proposal to cast vote. Wait someone (community user) to create new proposal


#10

Thanks a lot :slight_smile: