@PrinceCOTInetwork treasury question please mate. So if we enable automatic

Question

@PrinceCOTInetwork treasury question please mate. So if we enable automatic

staking for say another 1x 120 days we pay no fees to stake again but when the next 120 days ends and we want to stake again we have to pay the fees to stake again? Thanks

#coti #cryptocurrency #english

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22.05.2022

12 ответов

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weePaddy Node $COTI 💎 ☘️ Автор вопроса

Prince || COTI
Well, yes. You will need to pay fees(if only you w...

And does this keep repeating itself? So I will restake automatically and pay no fees but next time I have to pay the fees after that time can we enable automatic staking for another 120 days with no fees?

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22.05.2022

Prince || COTI

weePaddy Node $COTI 💎 ☘️
And does this keep repeating itself? So I will res...

Yep

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22.05.2022

Fireflight

There is no extra fee for (re)locking your deposit. If you forgot to enable the automatic extend, you can simply lock it manually again (with no additional fee) and there are no limits on how often you can lock your deposit.

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22.05.2022

Fireflight

Prince || COTI
Well, yes. You will need to pay fees(if only you w...

I don't think this is correct. You only pay fees for deposits, topping up, claiming rewards and withdrawals AFAIK

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22.05.2022

Prince || COTI

Fireflight
I don't think this is correct. You only pay fees f...

I think he wanted to know regarding redepositing,. isn't it? You can relock as many times without a fee but if you are redepositing, fees apply again. Or maybe I misunderstood the question

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22.05.2022

Fireflight

Prince || COTI
I think he wanted to know regarding redepositing,....

Ah yes. I see how it can be misinterpreted, since he talks about re-staking it (which is indeed redepositing). @weepaddyirishman to clarify. After the lock period ends, your coins remain staked at unlocked APY. You can relock the deposit for the period you choose for free (either automatically through "extend" button or manually). If you close the deposit and want to restake/redeposit, then you'd need to pay fees again. The UI for relocking isn't that great IMO (already sent out a suggestion to improve this through the feedback form). But to relock, you simply go to "manage deposit" and choose the new lock period (don't fill in anything in the "amount"' section, since this is only if you want to top up more COTI in the deposit - this is the mistake lots of ppl make)

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22.05.2022

weePaddy Node $COTI 💎 ☘️ Автор вопроса

Fireflight
There is no extra fee for (re)locking your deposit...

Hi mate I knew there was no fee for extending once but wasn't sure when you staked again and paid fees then you can get another automatic staking with no fees again. So you only have to pay fees every other time. 👍

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22.05.2022

weePaddy Node $COTI 💎 ☘️ Автор вопроса

Fireflight
Ah yes. I see how it can be misinterpreted, since ...

Yes mate only about redeposit the position the staker already has 👍

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22.05.2022

Fireflight

"So you only have to pay fees every other time." ==> Nope, no fees for relocking at all (whether you do it through automatic extend button or manually). You can repeat it after each lock period ended and you won't pay a single fee each time

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22.05.2022

Fireflight

weePaddy Node $COTI 💎 ☘️
Hi mate I knew there was no fee for extending once...

Your deposit doesn't "unstake" after the lock period ends.. You can just relock it each time. You don't need to restake it (since that would involve closing your position and creating a new deposit)

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22.05.2022

weePaddy Node $COTI 💎 ☘️ Автор вопроса

Fireflight
"So you only have to pay fees every other time." =...

@PrinceCOTInetwork so just to confirm if relocking position no fees to pay ever again going by what firefight has said?

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22.05.2022