Staking and other updates #16
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Co-authored-by: Jim Counter <[email protected]>
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Bumping this up so that the PR 2452 is not forgotten to be reflected.
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Suggest one tiny change. Otherwise LGTM!
As always, your explanations are clear, concise and approachable @dariolina.
Co-authored-by: Jim Counter <[email protected]>
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I'm going to push these to the frontend tomorrow morning before your forum posts. |
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| <img src="/img/Nomination_Pool-light.svg#gh-light-mode-only" alt="Nomination_Pool" /> | ||
| <img src="/img/Nomination_Pool-dark.svg#gh-dark-mode-only" alt="Nomination_Pool" /> | ||
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| ### Unlocking Funds | ||
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| Withdrawals have a lock period of 2 days (currently 28 800 blocks, ~ 48 hours). After the locking period, the withdrawn amount can be unlocked in the user's account with the `unlock_funds` extrinsic. All withdrawals requested in the same stake epoch are aggregated together and the total amount is unlocked at once. This locking period is necessary to ensure that the domain block executing the withdrawal is confirmed and not challenged by a fraud proof in order to increase the economic stability of domains. |
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I would like to clarify my understanding here.
Previously, in order to unlock tokens operators:
1 - Can either withdraw tokens using withdrawStake(operatorId, withdraw)
2 - Or can withdraw stake by de-registering deregisterOperator(operatorID)
In both cases their funds were automatically unlocked after the locking period.
Would that change at all now (other than the locking time changes)? It sounds like the funds won't be automatically unlocked, but users have to use another extinsics call to unlock_funds for the tokens to be released. Maybe I'm misinterpreting something.
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Yes. After 1 or 2, the user has to wait and then submit unlock_funds to actually be able to use the tokens. withdrawStake now basically only "unstakes" from the pool, but doesn't actually compute the individual amount or mint/transfer. This change is worse UX but a huge optimization to domain that lets us avoid iterating through all hundreds (or thousands) of nominators every time.
Currently, the unlock_funds has to be submitted manually, but we could have it automated by the staking interface or wallet so that the funds that are ready to be unlocked show like a reminder icon for the user or even submitted automatically as future transaction. There's room for front-end UX improvement for sure.
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Makes sense, thank you!
I'm adding the step to the guide as well, at least until we automate it.
This PR covers recent updates to domains, specifically those stemming from:
This current PR is not meant to be merged until changes are live on a public network, but to give heads up to @jim-counter @EmilFattakhov as it describes changes to UX and may need to update in farming and dev docs and reeducate community. Happy to answer questions.