Staking

 

Staking

What is staking?

Staking is a process whereby you put your coins in a Linda wallet and hold them.  You are paid a return (in Lindacoins) for holding them.

stake

Staked coins have the mining hammer in your transaction history

How much return do I get?

Short answer is roughly 70% per Annum.  Long answer it depends on how many coins you are staking and how many coins in total are being staked.  Also using advanced methods described below you can increase this as well.

how many coins do I need?

You can stake any amount of coins but generally 50-100k plus is considered worthwhile.

How do I stake?

glad you asked, from this thread  https://www.google.com.au/amp/s/amp.reddit.com/r/Lindacoin/comments/7qa8e0/staking_guide_community_version_windows/

comes this great guide  https://www.dropbox.com/s/g64zj9iy7163n3c/Staking%20Tutorial.docx?dl=0

If you follow the guide you should be well on your way to staking your coins and making it rain Linda!

What’s a mature coin?

Coins must be in your wallet for 24h before they will start to stake.  As discussed, the amount of return you get will depend on the number of coins you have and the total number staking.

How do I know how long it will take?

Once you have coins in your Linda Wallet you can hover over the hard to find white lightning bolt (found in the left-hand bottom corner).  It will tell you that either you don’t have mature coins (they take 24 hours after transfer or after a stake), or how many coins you are staking and the network weight (full amount of coins staking).  It also tells you how long till you will receive a stake.

Capture

Is this information accurate?

Your weight and the network weight – Yes

Expected time – No, it’s a guide which can change completely based on new coins being staked.  Priority is given to the largest coin holdings, so if you are staking 100k coins and someone comes in with 1 million, they will push your time out longer.  By the same regard someone may withdraw 1 million coins and you will be bumped up the list.  It’s an estimation at that moment.  The way I look at it, if you are returning 70%, it doesn’t matter if it is 1 or 20 days as long as you are staking successfully.

Anything else to boost my staking- Active Wallet?

I’ve renamed this Active wallet Protocol- AWP.  Why? Because it sounds cool and because when I say – are you doing Active wallet? People say- yeah bro (there usually from New Zealand) my wallet is always on.  But Active wallet isn’t an open wallet- let’s look deeper.  What started as an experiment to get more Lindacoins has become an obsession below is my original findings.  By experimenting, I have found thaamy small transactions into your wallet does add approx. 20% to your stake.

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It all began when I noticed that it is regularly written “Keep your wallet active” when staking is mentioned.  It felt like the way it was written and the emphasis that was placed on it that there was more to this then just keeping your wallet open.  Active to me was different to open or logged in.

The next piece to the puzzle was any time I was transferring to my Linda Wallet from the exchange (as I was buying up), even if it said the next stake was 15 hours, once the transfer landed, within 5 hours I would have a stake, and it seemed to be a much larger payout than the standard.

For example, staking coins in March 2018 in wallet 1.0.1.3, using AWP hasn’t returned an additional 20% in stakes.

What I do if I’m not buying….

I transfer 1000 coins to the exchange wallet (or from another wallet if the exchange isn’t reliable).  When I receive a stake, I immediately do coin control and then 1 hour later transfer 10 x 100 coins to my Linda Wallet.   This has the effect of increasing rewards by 20% over regular staking.

I highly recommend keeping your Linda Wallet active.

Unsuccessful stakes

Failed stakes may seem but bad, but really isn’t!  You can see this in the wallet by clicking on transactions and failed stakes have a ? that are not confirmed.  This can happen because another block was mined within a quick timeframe to your reward.  These are the greatest thing that can happen as the unconfirmed stake is remembered by the system and rolled into the next stake you can see below for an additional payout was much better!

failedstake

You can see that after a failed stake, the next stake is much quicker than a normal stake.  The system makes up for the failed stake.

If you are getting a lot or multiples in a row, the only solution I have found for failed stakes is to have a larger number of connections.  Connections can be seen down the bottom left of your wallet.  The ideal number seems to be between 60-100.  If you have for example 5 connections, it seems to take longer to confirm your stake which may affect you receiving it.  To improve your connections please see more connections below.

Staking Pool

There are pools where you can send your coins to be included with other investors which are pooled into a masternode.  One example of this is lindacoinpool.com (not run by lindacoin)

You need to feel confident to send your coins to anyone.  There are no guarantees of ever seeing your coins again, so make sure you are comfortable with whoever holds your coins.