Hi, I have a question about the new rewards update.

Question

Hi, I have a question about the new rewards update.

My APY is appearing to be significantly impacted, especially if I choose not to compound my rewards. Is the calculator broken or are we being penalised for choosing not to compound rewards? Having been staked for 4 years, I find this change quite discouraging.

#cryptocurrency #english #ocean

0

20.12.2023

10 ответов

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KreigDK | Never DM first🌊

Hello @RossCoDe) Let me check with the team and I'll get back to you with an answer

0

20.12.2023

KreigDK | Never DM first🌊

Hey Ross, I checked, and this calculator seems to be working perfectly. Regarding reinvesting, based on the logic of staking, if you reinvest your Ocean into Veocean, you will, in any case, yield more returns when looking at a long-term period of 4 years. The new calculator is convenient because it advises you whether it's worth reinvesting to maximize your profit or not (as many factors depend on the lock time and the quantity of your tokens). As for APY, I recommend you check out this article: https://docs.oceanprotocol.com/data-farming/apys/apys-plot

0

20.12.2023

RossCode Автор вопроса

KreigDK | Never DM first🌊
Hey Ross, I checked, and this calculator seems to ...

OK, why is my APY showing as 14% now when hours ago it was 16.9%? When I use another wallet, looking at relocking the date to 4 years again, with no compounding, it's only showing 7% APY when hours ago it was nearly 17%? Seems like we're being penalised for not compounding rewards, which is not what all of us who locked up for years signed up for.

0

20.12.2023

awesomeQA

RossCode
OK, why is my APY showing as 14% now when hours ag...

The APY for veOcean is variable and depends on several factors, including the amount locked and the locking period; you can use the tutorial in the Ocean Protocol documentation to estimate the APY for different scenarios [FAQ]. Generated using AwesomeQA AI

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20.12.2023

KreigDK | Never DM first🌊

RossCode
OK, why is my APY showing as 14% now when hours ag...

Hmm, I think I understand you It's possible that when you turn on or off compound percentages, it doesn't automatically reset and remains the same. I recommend that after each calculation in the calculator, you reset the Ocean amount to zero and calculate it again. I will report this problem to the team.

0

20.12.2023

RossCode Автор вопроса

KreigDK | Never DM first🌊
Hmm, I think I understand you It's possible that w...

Basically, when you use the calculator, it shows a17% APY when compounds are set to recommended. If you set the compounds to 0, the APY goes does to 7%. I have 2 screenshots of what I mean but I don't want to post them in chat in case I get banned for spam. It appears that unless we use auto compound, the APY gets cut dramatically which if true, is not fair on us that locked up for years as this is a major impact. In such a change, we should be allowed to unlock.

0

20.12.2023

Danil | Never DM first Kovtoniuk

RossCode
Basically, when you use the calculator, it shows a...

Hey, there! Its very interesting question and i am glad to answer High gas fees can impact the profitability of frequent reinvestment in Data Farming. It is suggested to claim rewards and restake less frequently to avoid high gas fees, balancing this with the benefits of compounding. I highly recommend using the auto compound feature when it's economically viable based on low gas prices in Ethereum.

0

20.12.2023

RossCode Автор вопроса

Danil | Never DM first Kovtoniuk
Hey, there! Its very interesting question and i am...

That doesn't answer the question of why the APY is 17% when using auto compounding and only 7% APY when not. Are we being penalised for choosing to have our rewards available at any time vs being locked up for years on end, with no access?

0

20.12.2023

awesomeQA

RossCode
That doesn't answer the question of why the APY is...

The APY is higher for auto-compounding because it takes into account the effect of reinvesting rewards, which can lead to a higher return over time compared to not compounding; the calculator shows the theoretical APY without considering gas fees for claiming rewards . Generated using AwesomeQA AI

0

20.12.2023

awesomeQA · Accepted Answer

If you're seeing an APY of 0.00% for Passive and Active rewards despite receiving them, it could be a display issue or because the rewards are too small to register a change in the percentage [1]. If you have concerns about the rewards calculation or feel there might be a penalty for not compounding, it's best to directly contact the support or a representative from Ocean Protocol for clarification . Generated using AwesomeQA AI

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