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🇵🇸🇮🇱 "I want all the arab people to die."
"Gaza now in the hell."
"All the people in Gaza dead haha."
"It's really really fun."
Says this Israeli woman.
🚨 Node Sale Airdrop!
To all our users who purchased a node during the 50% Off Node Sale, you were automatically entered into a draw to win nodes up to the number of nodes you purchased in the sale!
The draw is now complete, and 100 nodes have been airdropped to those lucky winners!🪂
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Weekly Recap:
1) 🇦🇷 Argentina President Javier Milei confirms he will shut down the Central Bank.
2) Netflix gave $11 million to a company to produce a movie and they lost it all trading stock options.
3) Changpeng Zhao (CZ) resigns as #Binance CEO.
4) 🇺🇸 SEC Commissioner says "there's no reason for us to stand in the way of a Spot #Bitcoin ETF."
5) Binance CEO Changpeng Zhao (CZ) facing up to 18 months in prison as part of his plea deal with the US Government.
6) Binance allowed ISIS, Al Qaeda, and Hamas to transact on its platform, US Government says.
7) Pro-Bitcoin candidate Javier Milei wins Argentina Presidential election.
8) $1.3 billion in user funds withdrawn from Binance following US Government indictment.
9) OpenAI rehires Sam Altman as CEO.
10) Binance CEO ChangPeng Zhao (CZ) released from custody on $175 million bond.
11) Binance CEO CZ pleads guilty to violating criminal anti-money laundering requirements.
12) Tether freezes $225 million in $USDT linked to human trafficking group.
13) $38,000 Bitcoin
14) 🇺🇸 SEC sues Kraken crypto exchange.
15) Binance agrees to pay $4.3 billion to settle case with US Government.
🚨 Delegate or Staking - "Which has the best APY"?
I'm seeing this a lot since the huge announcement that Staking on the #FlareNetwork is live.
Get yourself comfortable, after reading this post you'll get the full picture.
There are many variables which dictate the APY for those who delegate $FLR and for those who stake $FLR, let's start at the top.
Inflation on Flare, since we're in year 2, is set at 7% (per year). This is the new $FLR that is introduced into the circulating supply.
Many of you are familiar with receiving FLR as delegation rewards for supporting the native FTSO system.
These rewards originate from the Flare Network inflation mechanism, but you may not know that some of the inflation is also used to incentivise staking.
After Flare Improvement Proposal 05 (FIP05) passed, the inflation ratios between delegating and staking changed slightly:
🔸70% Delegation
🔸30% Staking
In a hypothetical world, where all $FLR was utilised, signal providers performed the and 70% of FLR remained delegated and 30% was staked, the rewards would be equal.
We know this is not the case...
The main variable in the equation here is the ratio between delegation and staking.
🔹The more people that delegate, the lower the delegation reward
🔹The more people that stake, the lower the staking reward.
We can calculate the ratios at a particular time for delegation / staking, but this is something that is constantly in flux.
Since staking just started, it's safe to assume less people are staking than delegating, as a result, the rewards will be higher until the ratio tips to a point where more than 30% is staked.
The crux of the matter is pretty simple, there is no definitive APY for staking as it is fluid and dependent on how many people stake.
One thing I think is a safe bet, is that the rewards for staking and the rewards for delegating will eventually equalise over time.
"The APY is higher for staking this month, let's go there"
That action, increases the rewards for delegation (as more people move to staking to chase APY).
This back and forth will happen until equilibrium is found. I imagine staking will settle higher in general because there is a lock-up period associated with it.
As a holder of $FLR, it's more advantageous to have your assets freely available which is why if there is a choice between the two (and the APYs were the same), it would be logical to delegate rather than stake.
That's pretty much it...
APY for both staking and delegating will vary over time and meet somewhere close to the middle.
If you see this question asked, feel free to share this post or alternatively, give it a RT and spread the word.
Either way, this is a huge milestone for the network as a whole and I'm excited for what else is to come!
Happy staking / delegating, what ever you chose to do with your $FLR!
2013: I graduated from college
2014: Found a shitty job
2015: Depression kicked in
2016: “The love of my life” left me
2017: I had +$50K of debt
2018: I started my crypto Twitter account
2019: I made my first dollar online and went all in into crypto
2022: I quit my job
2023: I’m a very happy person
IT TAKES A LOT OF COURAGE TO PUSH THROUGH HARD TIMES. NEVER GIVE UP. GOOD THINGS ARE COMING YOUR WAY