Elrond Validators Town Hall April 16 REC

Validators Town Hall April 16 - recording

Hello Validators,

We uploaded the call for those of you that missed it.

Highlights:

• 342 Elrond Foundation nodes removed
• Mainnet upgrade tentative timeline: release April 21, new feature activation April 29
• New Exchange & Launchpad implications on infrastructure performance: we want to be prepared.

Important call to action to all Mainnet Validators:
👉 Let's 2x our system specs: 4x dedicated CPUs, 8GB RAM

Why: we are already losing 2% of the rewards. The network is at 98% hitrate, meaning 2% of the blocks do not get validated due to "lazy nodes".

When a block is not validated, there are no rewards for that round. This results in 2% of the yearly rewards being lost.

At $220 EGLD price, that's $9.5 million dollars lost in rewards per year. (2,169,025 EGLD network rewards in year 1)

With $50 per node per month in addition (likely less) the cost to 2x the entire network specs is $1.9 million dollars per year.

That's a $7.6 million dollars net benefit, assuming the EGLD price will also be the same in 1 year from now.

+$50 per node per month means +$600 per year. When you subtract that from the +$100k rewards per year, that still leaves +$100k rewards per year.

👌 Let's 2x our specs, team. Easy math.

📣 TESTNET Upgrade T1.1.49.0

Hello Validators,

We are upgrading the TESTNET. We upgrade the nodes and keep the database.

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: T1.1.49.0

⏱ New features (ESDT!) activate at Epoch 3, Friday April 16, 18:30 UTC

👉 Let’s upgrade our TESTNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-testnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator

📣 TESTNET Upgrade T1.1.50.0

Hello Validators,

We are upgrading the TESTNET. We upgrade the nodes and keep the database.

This latest release includes some optimizations and fixes for the Arwen WASM VM.

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: T1.1.50.0

👉 Let’s upgrade our TESTNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-testnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator

📣 MAINNET Upgrade V1.1.50.0

Hello Validators,

We are upgrading the MAINNET!

This release is perhaps one of the most important since the mainnet launch and Smart Contract deployment: it brings ESDT tokens.

The Elrond Standard Digital Token model is perhaps the biggest innovation to blockchain tokens since their invention. ESDT tokens, NFTs & SFTs (semi-fungible) are embedded into the Elrond protocol, which has deep implication for speed, cost & performance.

Read more: https://elrond.com/blog/elrond-tokens-esdt-nft-sft-specs/

🛠 Version: V1.1.50.0

👉 Let’s upgrade our MAINNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-mainnet/


./script.sh github_pull
./script.sh upgrade
./script.sh start

⏱ New features activate at Epoch 272, on April 28 ~14:30 UTC

🏛 Validators Town Hall Meeting

Focus: Stake Pool owners, all validators welcome

TL;DR - pools that include queued validators earn fewer rewards.

Queued Validators do not participate in consensus, and thus do not earn rewards.

Examples included in the table below - we used 20% APR for base stake and 10% APR for top-up, for ease of calculation:

https://docs.google.com/spreadsheets/d/14_J8GMC8DOrZj_Gf6KnvtjO-6fAtn5V3dk5oX50hTVE

Please consider:
• Consult your community about the implications
• Optimal solution: unstake queued Validators, so their stake becomes top-up for the active Validators -> more rewards
• Outcome: more rewards for delegators, fewer nodes in the queue

💡 Staking Providers considering securing a place in the queue, either do that by starting a new staking pool using your own funds, or inform your delegators about the implications of queueing with their funds.

Let's do a call on this topic ⬇

⏱ Wednesday April 21, 11:00 UTC

https://zoom.us/j/91365135664?pwd=TVlBb0hIYjJVOXdOSCs0TXY2NEFDdz09
Passcode: 217939

🏛 Validators Town Hall Meeting

Focus: Stake Pool owners, all validators welcome

TL;DR - pools that include queued validators earn fewer rewards.

Starts now:

https://zoom.us/j/91365135664?pwd=TVlBb0hIYjJVOXdOSCs0TXY2NEFDdz09
Passcode: 217939

🏛 Validators Town Hall Meeting - Summary & Recording

Hello Validators,

Here's the recording of the call today.

Summary:

Queued nodes do not produce rewards. To increase Delegator rewards, Staking Pool owners should consider to:

- unstake the queued nodes. Their stake will move as top-up on the remaining nodes, generating rewards for the delegators
- communicate with your delegators and let them know about the implications of queueing for a slots

Since our call and until now, several providers unstaked their queued nodes. Thank you team for acting in the best interest of the community.

For the others, please consider doing the same.

Calculator: https://docs.google.com/spreadsheets/d/14_J8GMC8DOrZj_Gf6KnvtjO-6fAtn5V3dk5oX50hTVE/edit#gid=0

📣 TESTNET Upgrade T1.1.51.0

Hello Validators,

We are upgrading the TESTNET. We upgrade the nodes and keep the database.

This release includes bugfixes. If successfully tested, mainnet upgrade follows soon after 🔥 - no mainnet action needed atm.

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: T1.1.51.0

👉 Let’s upgrade our TESTNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-testnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator

📣 MAINNET Upgrade V1.1.51.0

Hello Validators,

We are upgrading the MAINNET!

This release fixes a few bugs in v1.1.50.0. Please upgrade within the same timeline - before April 27.

🛠 Version: V1.1.51.0

👉 Let’s upgrade our MAINNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-mainnet/


./script.sh github_pull
./script.sh upgrade
./script.sh start

⏱ New features activate at Epoch 272, on April 28 ~14:30 UTC

📣 DEVNET Upgrade D1.1.51.0

Hello Validators,

We are upgrading the DEVNET. We upgrade the nodes and keep the database. This upgrade brings the DEVNET in line with the mainnet. In short, tokens!

👌 Devs: no on-chain data loss because of this upgrade.

⏱ New features: ESDT + NFTs activate at epoch 444 ~17:40 UTC

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: D1.1.51.0

👉 Let’s upgrade our DEVNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-devnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🛠 Devnet Explorer | Devnet Wallet | Setup a Devnet Validator

📣 TESTNET Upgrade T1.1.53.0

Hello Validators,

We are upgrading the TESTNET. We upgrade the nodes and keep the database.

This release includes a bugfix that will go live at Epoch 169

⏱ Bugfix activates Epoch 169 Friday April 30 ~14:50 UTC

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: T1.1.53.0

👉 Let’s upgrade our TESTNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-testnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator

🏛 Elrond Validators Town Hall: Staking Phase 3.5

Hello Validators,

We are excited to introduce the Staking Phase 3.5 proposal. It brings a number of tweaks that should better align incentives towards the growth of the ecosystem and further decentralization.

The ideas included will be presented by Beniamin and then discussed in a Q&A session. We invite all Validators to join!

📅 Tuesday May 11, 15:00 UTC

📺 https://zoom.us/j/91000257817?pwd=N1BIb2JpYmUzenBHOTMyWCtCc3VhQT09

Meeting ID: 910 0025 7817
Passcode: 876984

📣 TESTNET Upgrade T1.1.55.0

Hello Validators,

We are upgrading the TESTNET. We upgrade the nodes and keep the database. This release includes several bugfixes.

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: T1.1.55.0

👉 Let’s upgrade our TESTNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-testnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator

🏛 Elrond Validators Town Hall Meeting

2021 - 05 - 11 Recording

[Forwarded from Elrond Network - Announcements]
Accelerating Decentralization: Staking Phase 3.5 proposal

The Elrond ecosystem has fantastic momentum in all areas. Staking has seen particularly explosive growth. We propose an interim adaptation of some of the staking mechanisms, in order to better align incentives towards further decentralization.

For Staking Phase 3.5, we propose the following changes:

🔹 Adjust APR for Base & Top-Up stake
🔹 Existing Validators can become Staking Providers
🔹 Existing Validator nodes can be merged into Staking Pools

The changes are expected to go live by mid of June.

Full details: https://elrond.com/blog/elrond-staking-phase-3-5
Town Hall recording: https://youtu.be/k8CKA7HBTfo
Forum discussion: https://forum.elrond.com/topic/1086-its-time-to-grow-staking-phase-35-proposal/

Retweet: https://twitter.com/LucianMincu/status/1392427695183695876

📣 TESTNET Upgrade T1.1.56.0

Hello Validators,

We are upgrading the TESTNET. We upgrade the nodes and keep the database.

This release includes the first version of our Staking Phase 3.5 proposal, for testing and analysis.

Remember to review our proposal and comment on it:

https://forum.elrond.com/topic/1086-its-time-to-grow-staking-phase-35-proposal/

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: T1.1.56.0

⏱ New features activate at Epoch 315, May 12 ~19:00 UTC

👉 Let’s upgrade our TESTNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-testnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator

🛠 Test the Staking Phase 3.5 New Features

Hello Validators,

Here’s how you can use the new Staking Phase 3.5 features to make your Validators into a staking pool.

1. Create a new Delegation Smart Contract for an Existing Validator

Send the following transaction from the wallet you staked the Validator from:

To: erd1qqqqqqqqqqqqqqqpqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqylllslmq6y6
Value: 0
Gas Limit: 510000000
Data: makeNewContractFromValidatorData@(max cap)@(fee)

Where:
Max cap = total delegation cap in eGLD, fully denominated, in hexadecimal encoding

For example, to obtain the fully denominated form of 7231.941 eGLD, the amount must be multiplied by 10^18, resulting in 7231941000000000000000. Do not encode the ASCII string "7231941000000000000000", but encode the integer 7231941000000000000000 itself. This would result in "01880b57b708cf408000".

00 = uncapped

Fee: service fee as hundredths of percents, in hexadecimal encoding

For example, a service fee of 37.45% is expressed by the integer 3745. This integer must then be encoded hexadecimally (3745 becomes "0ea1").

2. Merging a Validator into an Existing Delegation Smart Contract

The owner of the Delegation SC has to whitelist the wallet from which the Merging Validator was staked from. From the delegation SC owner's wallet, send a transaction with the following parameters:

To: <delegation SC address>     
Value: 0
Gas limit: 5000000
data: whitelistForMerge@<Merging Validator wallet address in HEX format>

Then the Merging Validator has to send the merge transaction from the whitelisted wallet:

To: erd1qqqqqqqqqqqqqqqpqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqylllslmq6y6
Value: 0
Gas limit: 510000000
Data: mergeValidatorToDelegationWithWhitelist@<the Delegation SC address in HEX format>

Happy testing!

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator

📣 TESTNET Upgrade T1.1.57.0

Hello Validators,

We are upgrading the TESTNET. We upgrade the nodes and keep the database.

This release fixes a "dust re-delegation" issue.

Remember to test the Staking Phase 3.5 features: https://t.me/ElrondValidatorsAnn/377

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: T1.1.57.0

👉 Let’s upgrade our TESTNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-testnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator

📣 TESTNET Upgrade T1.1.58.0

Hello Validators,

We are upgrading the TESTNET. We upgrade the nodes and keep the database.

This release fixes some issues with Staking Phase 3.5 features and brings minor API changes.

Remember to test the Staking Phase 3.5 features: https://t.me/ElrondValidatorsAnn/377

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: T1.1.58.0

👉 Let’s upgrade our TESTNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-testnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator

📣 TESTNET Upgrade T1.1.59.0

Hello Validators,

We are upgrading the TESTNET. We upgrade the nodes and keep the database.

This release brings fixes to the bugs found over the latest days of testing.

Remember to test the Staking Phase 3.5 features: https://t.me/ElrondValidatorsAnn/377

⚠️ Do not upgrade your mainnet validators! You risk getting jailed and jeopardizing the mainnet.

🛠 Version: T1.1.59.0

👉 Let’s upgrade our TESTNET VALIDATORS. Please do:

cd ~/elrond-go-scripts-testnet
./script.sh github_pull
./script.sh upgrade
./script.sh start

🌐 Testnet Explorer | Testnet Wallet | Setup a Testnet Validator