So I started stacking and just received my first rewards, great!
But need to vent some of my frustration, hopefully creatively in the form of possible future enhancements.
I managed to reach the stacking threshold but figured that it would change before the next cycle. Is this correct? if I locked up for 2cycles and the threshold went up, would i be stuck without gaining any rewards?
Fearing that, I locked up only for the minimum 2 weeks with the expectation of buying more with my rewards, then Restack. Did not realize that I would miss a cycle. Did not read the fine print on that one, until just after I locked.
So that brings up the real enhancement. Can the rewards be converted into STX automatically, to maintain the given stacking thresholds?
Having the ability to lock multiple times with diminishing returns is very frustrating to me.
Ideally the rewards would compound keeping me at the threshold and duration of the lock.
Without that functionality, the next best thing would be to be able to relock the same day, without missing an entire cycle. Possibly next day delay between locks. Or possibly multiple overlapped cycles…
Nobody wants to miss out on such a great thing!
Hey! Thanks for writing this post up and sharing your feedback. You can increase your stacking rewards by locking more STX associated with the same BTC address as outlined here. It is a bit of a clunky solution right now, and definitely hear your frustration on all the issues you brought up. While we work on communicating some of these things a bit better directly in the Stacks wallet, community members should also feel free to propose enhancements and improvements for consideration and further discussion via Stacks Improvement Proposals here Issues · stacksgov/sips · GitHub
Would love to hear and discuss all ideas. Thanks for being one of the first stackers!
Select “Get started” on the right-hand side to view the Stacking form.
Gina, I think this item number 15 in those directions will not work UNLESS the newly created wallet has at least 70K (or whatever is the minimum stacking qty of STX for that stacking round). The wallet does not present the “Get started” button unless the min qty of STX is present.
If this is true, that info should be added to the directions at the top - so people don’t waste their time trying to add Stack/lock more STX when it’s not possible with small amounts.
That’s a good point. There is a minimum increment value. In the Stacking feedback post there is a proposal to reduce the minimum to 10K STX which would make intuitive sense given the minimum threshold will move in 10K STX increments so people might want to “top up” in 10K STX increments as well.
That sounds like a good solution. Allows people the option to add to their stack to make sure they keep up with token inflation and growing minimum per-slot qty of STX and the Stacking participation % goes up.
OK, I misunderstood that statement.
Yeah, this def should be lowered if possible. I’m all for the 10k proposal.
70K does not allow sufficient granularity I think. Say if you have 150K already locked and the max ever needed is say 200K (@ 50% participation) you’ll be forced to lock up more than you needed.
This functionality is even more important for people who locked up for a long time but with a lower amount of STX @muneeb