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RE: 100% commission for delegating to a Cosmos Validator

in LeoFinance3 years ago

Hey you need to redelegate away from that validator. 100% commission means they take 100% of the staking rewards, and give you nothing.

My advice for validators is to skip past the top 20, and look down the list a bit. Also, there is a push to discourage 0% commission, as these people tend to not do anything much for the chain.

Whispernode is a good choice - and @nulledgh0st is a part of that team and will be coming back to LEO and HIVE to bring Cosmos content here, and 1% commission which is great.

Back make sure you redelegate ASAP. Paradigm are keeping all your staking rewards. Also, make sure you "redelegate", not unstake and wait the 21 days. You can move it without a problem.

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Done. I moved my stake to another with much lower commission

Thanks for the shoutout here!

I did want to throw a quick update here, as we will be raising our commission rate from 1% -> 5% in the next few days. The 1% rate was our "intro rate" for when we first joined the active set.

While this may seem like a dramatic raise, 5% is pretty much the "standard" across the Cosmos ecosystem, and raising our rates to this level will allow us to maintain our infrastructure, even during the bear market.

No one likes paying higher commission fees, but rest easy knowing that those comms are truly going to a team that cares, that contributes, and that won't let you down - we do a lot throughout the ecosystem, and currently are on a huge push to increase decentralization across all Cosmos chains through a new initiative (which I'll probably write a post about here soon).

Cheers!