Transfer Node Payouts without Losing SmartRewards Eligibility


#1

Node owners should be able to transfer their node rewards into a separate address in the same wallet without losing smart rewards eligibility.

Current situation: I have 15 nodes, and I have generated enough node rewards to create a 16th node. However, to transfer the smartcash into a new address, I would lose smartrewards eligibility for all 15 nodes for the month.

Community, what do you think?


#2

It sounds great in theory, but in practice this would be nearly impossible to implement and would defeat the purpose of smartrewards.

So say I have a wallet that has accumulated 20,000 smart. I transfer 10k to a new address to make a smartnode, where does that leave my rewards? Does my original address with 10k stay eligible? What about the other address?

I understand where you’re coming from but this defeats the whole point of smartrewards as a stabilization mechanism.


#3

Few Ideas:

  1. Allow the “snapshot” to be a 1 hour window. Anything that happens in that window does not effect smart rewards.
  2. Smart transferred within the same local wallet is still eligible for smartrewards.

#4

Another idea:
Allow smartnode payouts to be re-directed to main address. This way node rewards can pile up in main wallet.


#5

I think either having the ability to redirect node payments to another address
Or
Transfers within the same wallet not affecting SmartRewards

are both decent ideas!


#6
  1. So you propose a 1 hour “grace period” after payout for TX to occur before next snap?
  2. Wallet is just a construct. On the blockchain there is only addresses. No such thing as “local wallet”

#7

on the 25th at 0:00 UTC (I think this is the time), snapshot happens, and rewards are paid out for the last month. From 0:00 to 1:00 UTC, transfers are allowed to occur that DO NOT affect the next month’s smart rewards. at 1:00 UTC another snapshot is taken, and that will define what is eligible for following months rewards.

So in that 1 hour block, I can move my smart from one address to another without missing an entire months rewards.


#8

So right now we have 2 viable ideas.

  1. 1-hour “Grace Period” after payout for TX to occur before next snap
  2. Direct node payouts to a different address

#9

Interesting thoughts. I’ll be watching what other’s have to say.


#10
  1. I have nodes too.

But I dont expect the rule to change. IF Nodes can move their coins without loosing Rewards, why not Miners too? … I would also like to move my coins from mining ! It’s not because we have nodes that the rules should change. We can choose to use or move our Smart or not - then get reward or not.


#11

miners can direct their payments to any address they want… so comparing the 2 really doesn’t work. this is a non issue for miners.


#12

Wallets have no identity, they are just a collection of private and public keys, so there is no way to identify a move of coins from one address to another within the same wallet. I like the idea of being able to specify a different address for node payments.


#13
  1. The grace period idea was actually the way things used to be back during the first few rewards cycles when the blockchain started. It caused dumping after every rewards period, you can see it happen on the 24th or 25th like clockwork if you look at price history. People would dump rewards and keep the rest for next month.
  2. I agree that it would be useless to try and code the concept of wallet into a blockchain, your wallet file is just your collection of private addresses that you generated. I do like the idea of putting a different address into the conf file for the smartnode though to send the rewards that way instead. I’m not sure how difficult it would be to implement code-wise, but it would be hella useful. Bonus points if you could split the payments, so say half for spending and half for saving.

#14

This is nothing new, Pivx does that… Also, you’re only moving the extra coins, not all your coins so the stabilization still there, plus you’re creating a new node anyway.
I moved my rewards from my first month and lost my smartrewards, worst decision ever, my new node is almost 20 days old and hasn’t paid yet.
I agree we should have a way to pay the rewards from nodes to another address, just copy pivx, again.


#15

If you have 15 nodes you are rich. hehe. Have you considered just losing out on 1/3 of the nodes? Use all the rewards from 5 of your 15 nodes and take a hit for one month. I haven’t done the math but there has to be some way to figure out when it would make sense to do. I don’t have that many nodes, but I struggle with the same dilemma. I posted this a while back.


#16

yea i think its the way to go if you have more than one node.

Take the rewards of a part of your nodes like 1/3 each month and let the others untouchable,as for me im full hodl now hehe.


#17

Would you happen to have a link to how to setup multiple Smartnodes?


#18

@Tetrakt
:+1:t3: Yes, of course.


#19

#20

We need to make this process easier, it is hard for a new user to do it.