The big question is: when pubblic validator ? Please ✨❤️

@denkomanceski

well the bond in the wallet is a replacement for the public validator at the moment. It gives better APY than being a validator.. the community validator is sending rewards to that smart contract on daily basis. And if people do the math, the APY is still crazy high. Example (These are not 100% accurate numbers): The validator will earn 70m tokens per year and send them to the smart contract. If the smart contract has 35m users' tokens then the APY is 200%. For 3.5m tokens staked at the end of the bond they will get 7m (plus the initial 3.5m back). So if we see that the bond has less APY than the validator we can proxy another validator to send rewards to the bond but for now thats far from being necessary

So, do you have cancelled the Public Validators Program? After one year waiting, I think a clear answer is necessary for us (the waiting validators who are not lucky enough to be nominated by the Reef Liquidity Bridge account)

It’s the best question 👍🏻👍🏻👍🏻👍🏻

How long u wait for it ? 6 mths?

1 year

F...k. i can feel yr pain.

He has been here since the first day…and very helpful for the community

Thx. I think i noticed this. 😉

This should be clarified, he is right

Yes tony. It should be clarified.

Reviewing your answer I would like to comment on a couple of things: "It gives (Community Bond) more APY than a validator", Yes, It can give more APY than a abussive 90% commission validator, of course, but It cannot give more than a 5% commission validator. Community Bond validator destinates the 70% of its rewards to the smart contract (the commission It has set), 5% commission validator destinates 95% of his rewards to users. And you know as well as I do, that the consensus algorithm of substrate networks favors active validators with less total stake, so the higher the stake, the less the rewards. Your statement is definitely not true. 200% APY??? Please, try to find only one user of the Community Bond that are receiving daily this amount of rewards... That statement has no mathematical basis, it is just saying for the sake of saying, as I could say that if my validator was active it would give users 500% APY, why not? I don't even want an answer, but when you go in to respond to investors, do it with real numbers, not the first number that pops into your head, please

I don't receive that much despite being a nominator of a 0% commission validator. I think you got something twisted these are no realistic numbers.

@Salvatore, I don't know what your skill level with technical stuff on substrate-based networks, but I know what is mine, and I can assure the is no need of "development" or "work" to open the network to third-party validators, all what is needed is the will to do it. So, after a year of seeing how it is delayed time and time again, added to the fact that the community bond is now an "at the moment" replacement and that there is NO WANT to give a clear and concise answer, it is logical that investors end up drawing their own conclusions. I think It is very simple, just come to the group, reply to one of the many messages asking the same question and answer: "Yes, the program is cancelled" or "No, the program is still running, but we do not know when it will open".

So, let me get this straight and clarify the crypto timezones for you: 1. At the moment = it means now 2. Working on it = it means sometime in the very near future 3. Almost ready = it means what it says 4. Soon ™ = they also made stickers and memes about it, it deserves some respect 5. Very soon ™ = Soon ™ on drugs 6. No ETA = ask again in a couple of months

👌💪

The program is obviously running. Eg: Klever is an example of an external validator. Currently we are working with projects that are important at this stage of the project (eg: on-chain infra such as bridge (coming soon), stablecoin, oracle). Feel free to share your work on previous projects that you have been a validator on. Technically we cannot stop anyone from becoming a validator. If the community here nominates enough tokens under your node you will be elected by default so we cant really "Open or Close the program"

😂😂😂

very soon -> 1-2 weeks (even though certain things depend on third parties such as the debit card so if master cards tells us 4 weeks and it takes 3 months instead there is not much we can do ¯\_(ツ)_/¯ )

Let me ask the question every one wants to know 😜 Any chance on listing om Coinbase?

This was answered last night.

Cos validators become active due to the total stake, and REEF LIQUIDITY BRIDGE has more than 1 Billion tokens that they use to nominate the validators they want to be active

It's not the power of the community, it's the power of money

Set ur validator at 90% and then u have a chance of being elected as they won’t see you as a competitor.

Is there no liquidity? How is this possible if 700M tokens have been minted in the last month? I'm not complaining about to be on waiting list, I'm complaining about users do not have this decission in their hands but in the Reef team hands, this is not the way a decentralized and community governed project works. Look around and see other REAL decentralized and community governed projects

How we can support u?

Shouldn't developers transfer the right to the community to make this or that decision by voting at the end? Maybe it's too early to transfer control to the community at this stage of project development? This is a normal practice when developers first manage the project themselves, and when they understand that the project can develop further without them, they transfer the right to solve key issues to the community.

Complaining everyday won't get you anywhere Mate. It's either you accept what reef is offering currently or focus on what you call (REAL decentralized and community governed project). This is Reef project not those other projects.

The silence is deafening.

It's your opinion, as Reef investor I have my own opinion

No no. It’s blockchain. Blockchain means decentralisation. Whatever project it concerns. He is right. But if we look inside this problem, there are very few REALLY decentralized projects.

The validator slots are being used by liquidity providers, third party entities such as Klever, core blockchain developers, basically entities that are essential for the blockchain to move forward and provide real value to Reef in terms of development and infrastructure. Of course no one can stop you from being a validator, provided you have enough votes.

Well, not all blockchains are decentralized, there are many blockchains that are private and centralized, but at least they are not advertised from day one as "decentralized and community governed."

Almost every one of these blockchains uses the prefix "decentralized", although in fact it is not)

Please put this in simple terms for him else this is gonna go on for months to come.

😁😁...

Escuse me, your comment implies ignorance of the consensus system. First of all Klever is out, it is not active, secondly it is not about votes, because otherwise Klever would be in, it is about the amount of total stake deposited.

I like it when people say constructive things, understanding what they are talking about.