So I was planning to delegate all my fx coins as soon as the Mainnet launch, but after reading posts from FX Team, they are recommending to delegate what you can afford to loose. Considering there is risk involved, I wanted to hear how others are planning to mitigate risk & delegate safely.
My current strategy: delegate in 20-25% chunks over next few days/weeks to different nodes.
What are your thoughts?
just warnings they must put out there because things can happen
how do you even cross the street? you can die there
The current validators are all team or close partners, so that risk is covered for now, but when the pool opens to other validators you might wanna check how reliable those are.
Other things to consider is geographical location and infrastructure (power, internet),
like a normal stock portfolio, a good spread is great for security of your funds, a spread over 4/5 validators seems like a good place to start
Nooby question that I can’t seem to find an answer for in the team docs.
Once delegated, when can I redeem/undelegate?
Click “My Delegations”.
Scroll below - Click the Validator that you chose before.
You will be at a page called Validator Overview - Click Undelegate.
Done
collect rewards anytime you feel like it, it’s about 8hrs to release them i think, It’s not staking or redeeming, you just un-delegate when you want to stop earning or you want to move to back a different node or cash out, this is a life time earning situation now; you earn for as long as you like, it’s about 21 days to release your token to un-delegate, so you need to act in advance of when you want them.
Thanks lkybob, the option was right there on my FX wallet to see!
Please see the last few Hashouts. It’s all there and a lot more stuff to take in. They can be found on the Functionx.io website.
Thank you, all sorted. 100% delegated with two validators.
It’s incredibly simple, fast and cheap. Super impressed and I hope the team is proud of their work!
First Delegation reward claim; Rewards deposit was nearly instant; 