Frequently Asked Questions
The staking APY is variable. Staking APY = (Annual Inflation %) divided by (staking ratio %). While the annual inflation can only be changed through governance, the staking ratio fluctuates based on addition/ removal of MTRG from staking. Annual Inflation and Staking Ratio is available on scan.meter.io homepage.
As on June 27, 2022: Staking Ratio — 48.31%, Annual Inflation — 5%Staking Returns — 10.35%
Staking is non-custodial and the user can stake as long as he wishes. Staked tokens are locked. The tokens can be unlocked through the ‘unbound’ process in 1 week
Around 0.3 MTR should suffice for over 8–10 staking transactions
Users can perform gasless swap on Meter Mainnet using ‘wallet.meter.io/swap’
Web Wallets — MetaMask, Wallet Connect
Application — Meter Desktop Wallet
Staking through MetaMask can be done through cold wallets like Ledger. Meter Desktop Wallet does not support cold wallets.
Typical criteria for choosing candidates is uptime or commission. All candidates on Meter have had historically very high uptime. User can choose any candidate from the list of available candidates. A good practice would be to get rewards notifications from Meter Validator bot to keep an eye on the rewards received every 24 epochs.
Yes, Enable Auto-bid provides users with MTRG as staking rewards. When Auto-bid is not enabled, users receive MTR (Metastable gas token) as staking rewards.
Staking rewards are distributed every 24 epochs (typically 1 day) to the address staking on the Meter Mainnet.
This depends on whether “Enable Auto-bid” has been checked on the Vote ID or not. Users receive MTRG when “Enable Auto-bid” is checked, else they will receive MTR (Metastable gas token)
Users can DM “/staking (wallet address)” to @MeterValidatorBot on Telegram to get daily messages when your wallet receives the staking rewards
Staking rewards can be approximately calculated as below;
Number of MTRG staked x Annual Inflation / Staking Ratio x (1 minus Candidate Commission rate)
For e.g.: 1000 MTRG x 5% /48.31% x (1 minus 10%) = 93.15 MTRG
Annual Staking Rewards / 365
For e.g.: 93.15 MTRG / 365 = 0.26 MTRG
No, Meter Mainnet currently does not support auto-compounding. Next best option is to use the “Add More” option on the existing Vote ID periodically to increase the rewards.
Yes, delegators can lose potential staking rewards if the candidate they delegated to is jailed. Validators typically bail out the nodes from the jail after fixing issues so that they can continue earning staking rewards. If your validator has not bailed out, user can “undelegate” from current candidate to choose a new candidate.
Bonus votes increase at the rate of 8% per annum and incentivize long term staking. The weight of user stake increases by the bonus votes during staking rewards distribution.
Yes, you can create multiple Vote IDs (buckets) on the same account adhering to the constraint of 100 MTRG per Vote ID. Users looking to diversify their stake against loss of staking rewards from jailed nodes can use the option. Almost all nodes on Meter Network have very high uptime.
No, there is no minimum no. of MTRG that the user can add to an existing Vote ID. User can add any amount to the Vote ID up to the MTRG available in the wallet.
No. Unbounding without Undelegating will enable users earn staking rewards during the unbound period of 1 week.
No, MTRG is locked in staking until the end of current epoch when the unbound timer ends. This may take up to 1 hr depending on when the unbound timer has ended. Please wait until end of epoch to get the MTRG unlocked. Clicking ‘Unbound’ again will reset the timer to 7 days.