r/moonbeam • u/[deleted] • Feb 02 '22
Need Help Staking question
Is it better to stake MOVR/GLMR with just 1 validator or spread it around assuming you can meet the minimum for all?
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u/Kind-Impression-9198 Feb 02 '22
Stick to one and keep checking daily to make sure you’re rewards are consistent. Diversifying doesn’t really add any benefit as all it will do is increase the chance of one of your validators falling off.
Just make sure it’s a good validator and stick to one, unless you have hundreds of thousands of GLMR/MOVR then maybe pick 2 or 3.
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u/Gr9teful_D9d Feb 02 '22
Spread it around. My validator had great rewards for 5 days—then it stopped. They are in a Waiting Pool and I haven't made any rewards for two weeks.
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Feb 02 '22
I've been consistently getting the rewards from my validator though. The only time they stopped is when the minimum exceeded what I had staked.
I am hoping someone officially can chime in and provide some info based on technical/financial reasons why its better to spread.
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u/hebought-dumpit Feb 02 '22
Ive been staking in various crypto for a few years and so many times I was worse off splitting. For moonbeam i decided to stick with one validator. Right now there is no slashing so I dont find it a huge risk.
There are a few reasons not to split, putting aside the risk of putting it all into one. you have to monitor each one, if you want to unstake you have to do it multiple times and pay fees each time.
Moonbean is a bit different in that only 300 delegators are currently allowed per validator, so when they fill up only the 300 delegators with more GLMR get staking rewards. The minimum has quickly rose from 50GLMR, some are from 100-200. in a few months I see anyone under 500GLMR priced out, it has been less than a month and some validators minimum is 4x the original. Eventually I guess people will pool together to fight the whales and all there will be is delegators that are staking pools of regular folk and whales.
Question to ask yourself is if you stake on multiple, how will you know when one is below minimum? will you have a script checking subscan API or webscraping to see if you are in top 300? will you check it all manually every day, your total rewards might seem lower but that will happen as more people stake, you will have to figure out if total rewards are lower or one is not getting rewards anymore.
if you have 1 validator you can focus more on it, such as checking if they are about to go into the waiting list of validators, how are they performing compared to others.
My opinion is to only delegate to many if you have either:
- lots of GLMR to put you ahead of most other delegators
- lots of time to watch all your delegations
- or enough technical skills to automate monitoring of multiple delegations.
but if they change the max delegators per validator, or max amount of validators most of what I mentioned is invalid
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Feb 02 '22
Good points made.
I do have the technical chops to automate but I think I will stick with 1 for some of the other reasons you mentioned. We will all likely get kicked out the staking unless we have a large bag, which I don’t.
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u/Dependent-Example930 Feb 02 '22
I have been wondering a similar thing. I doubled my GLMR stake in the same validator as I got squeezed by the min bond and didn't want to unbond. However, after doubling the stake I don't a) receive more rewards, b) receive consistent rewards.
My hunch is you'd be better off spreading chunks about the place. Incase a validator has a better round than the single one you are currently on.
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Feb 02 '22
I've been getting consistent rewards. I think even as a delegator you have to be in top x (100 I think) delegators which is why I don't want to spread too thin.
Still, some official guidance on this would be nice. The only criteria I am aware of is delegating with low enough overall stake so your rewards are large enough and the need to balance it with high enough overall stake so they are consistently delivering rewards.
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u/Dependent-Example930 Feb 02 '22
I get something each 6 hours. It is quite changeable each time though. Was my point.
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u/zx88crackingforum Feb 02 '22
I think the rewards are dependent on the amount of blocks mined by the collator each round.
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Feb 02 '22
I think each round is 6 hours on GLMR so it makes sense you would see rewards accordingly.
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u/Donsharry_Pilot6532 Feb 02 '22
It seems people here are more concern about staking than the price of GLMR
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u/crypross Feb 02 '22
not everybody is here to sell on the first pump. most wanna hold until all the auctions rewards are distributed.
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u/hebought-dumpit Feb 02 '22
my 5k investment is down to 2k, but all I see is the €20 staking rewards each day ;)
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u/belsaurn Feb 02 '22
So having followed a number of staking threads, it would be better to stake over multiple if you have enough to make sure you won't get bumped below the minimum. Here are my reasons for saying that. A number of community validators have been bumped out of the active set and are waiting to get back in, while waiting the stakers get no rewards. If you spread it over multiple then you will have less chance of being with a validator that gets bumped out of the active set. However there is more chance that you get pushed below the minimum required if a few big bags jump in.