Not really savvy in the ongoing of these things I should probably learn more so here it goes… how do these work? Interest % has risen slightly but not enough to warrant the big jump in earnings
That’ll be because I redeemed my LRC from staking on Wednesday after approx 200 days and earning not much at all.
I redeemed about an hour before this post. 222 days for 8 loops 💰💰💰
U/petervancee - this is the answer. “Staking” does not mean all protocols are doing the same thing
Staking ETH is contributing to validating the chain, and getting rewarded.
Staking LRC is joining a pool that gets a % of protocol fees. The more fees generated (trading, NFTs, sending etc) the bigger the pool. So to answer your Q, it is going up because there are more fees being generated
Most likely just due to the volume and price increase.
What i dont understand is that the ETH staking is like minimum 3% and LRC has such a low percentage? Since the LRC staking is such a low percentage, why doesn’t it use protocal behind it to use ETH as a minimum, and then subtract the transfer fees automatically. Then you have LRC staking with a minimum almost equal to ETH while still supporting the LRC environment. But maybe I don’t understand things properly.
because loopring staking reward is generated from their own ecosystem transaction fee. the more transactions the more staking reward
This.
The staking rewards are just a piece of the trading revenue.
Given the fees are a few pennies per transaction, we need high volume to increase rewards.
With the recent crypto rush, volume has increased and therefore so have our rewards.
You should jump on discord and post this on ama, it would be interesting question for the team.
Cian are also looking into doing something with lrc, nothing set in stone yet. I’m keen to see what they come up with, they are also asking to hear idea’s from others about how this could proceed.
Thank me later https://youtu.be/OzrLPeLHfgE?si=JRONFgfT0LVkljWo
Where do folks think the volume is coming from?
When the float is locked there will be no volume 🤷♂️ so I’m not so sure how it all works tbh. I thought that drs was to take away the shares they need to cover thus born the thesis that we name the price, they have to come to me and ask me how much do I want for my shares because there’s none available on the market to cover the never ending black hole of a short position… I don’t see how it will spark a squeeze the squeeze will come from fomo and the need to cover then after. Few positive Qs and a trip to the S&P and it will be a different ball game. We need the price to remain low not to lock the float but to make it look tasty to new investors when the time is right
I hold some loopring on the loopring wallet but the staking rewards are absolute mince. I hold 1700 LRC on there and have not even made 1 coin yet in what feels like months. ATOM on the other hand I hold 60 and have made 7 coins in the same time
Good question, maybe because there was more trading and movement lately?
Volume
As more activity occurs on loopring, the return rate will increase. This is most likely because bullish market, hopefully full bull market returning.