I propose the following improvements:
1.- Allow validator change without unstaking (to not wait 21 days).
In some cases, a delegator could decide to change the validator and currently, the only way is by unstaking, waiting 21 days and staking again now with the new validator. In my opinion, 21 days without block rewards is a penalty too high for the fact of changing the validator.
2.- Allow direct Restake
It is a waste of time and fees to claim the reward and then delegate again when restake could be an additional option in the menu, to direct loop block rewards into your validator and maybe, paying only part of the fees of claim+delegate.
3.- DEX in FX Core
I know that it is in the project list of features to be implemented in FX Blockchain but we do not know for when it is expected. Q3 2021? Q4 2021?
Swap in FX Wallet is a good option but running under ETH Blockchain, it is very expensive (high fees). I could image the same concept but in FX Blockchain and also allowing swaps with non-ERC20 coins like BTC.
4.- Include in FX Explorer more information
- For example, table with Staking Parameters values in real time.
- Cumulated FX in Ecosystem Pool.
- % of Staking Ratio
I agree on your points but number 1 removing the 21 days will lead into mess and give a chance to malicious users overtake the network at worst case and normal case manipulate the network vote power on the that certain time frame, its harm than any good. Which also makes what team doing now useless phase.
Agree with KuzoIV on first proposal, this would lead to malicious exploits and could possibly damage ecosystem. On second I agree, auto-compound is a must have, third is in works so hopefully we will see it soon and fourth would be good to have added some extra statistics, indeed.
In number 2 this maybe seen like inconvenience but remember for some peoples circumstances this can be a hinderance in your suggestion, those that turn over a lot may not want automatic features like automatic claim and redelegation as once you do that you have collected earnings which causes a capital gains tax in most country’s, I like to manually do it when I’m ready so if I want to build it for a year or 2 before claiming it I can wait until the market is in a low to get less capital gains or sell in a high take profit and put the tax component away, the fee’s are to small to cry about doing 2 moves in which fee’s are also tax deductible.
Regarding the point 1, my proposal is not to remove the 21 days of lockout. This period is to protect network from malicious attacks. But allowing the change of validator without doing unstake is not dangerous for the network (from my humble and unexperted point of view) because the user is not redeeming their FX, it would continue blocked for 21 days but the user has the option to change from one validator to another one better for him, for example, for voting power or confidence reasons.
I give you other point of view… once external validators will create a node in stage 3, do you think that many delegators is going to change to some of them if they need to reject 21 days of block rewards to change to one of these new validators? I don’t think so.
For all these reasons, I am not saying to eliminate the 21 days for redeeming but easing the change/transition between validators.
Regarding the 2 point, my proposal is not to implement an automatic restake but giving the option to the user to restake in 1 step, not in 2 steps (claim+delegate). Currently, in FX Wallet there are 3 options (3 buttons in delegation section of CryptoBnk): Delegate, Undelegate, Rewards. I propose to add a fourth option which is Restake. And users pushing this button can directly restake their rewards in the same validator in one step.
These 2 options are available in other Blockchains like crypto.com (CRO) for example and they have a locking period of 28 days.
In no 1 this can still cause a security risk as one big whale could settle in quietly in many delegations then suddenly move to one, It’s self defense for the network,
2 is like they need to create separate blocks for each action not sure if the coding would be even be able to make it possible, But you understand you are also asking the system to do it creating less blocks which in turn cut’s your block rewards in half so your actually doing you self out of half your rewards; as this is how you earn rewards is backing nodes processing as many rewards as possible