Source
r/helloicon•
NorskKiwi

ICON/ICX - P-Rep Pre Voting - MEGA THREAD

PinnedOFFICIAL

Ladies and Gentlemen, ICONists, WE ARE LIVE!

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Important Info:

Welcome everybody to P-Rep pre voting. This will be our sticked megathread for the weeks to come where we can focus discussion around the decentralisation of the ICON network. Below you will find a list of handy links to help you get started on your journey. So get researching, update/download your ICONex chrome extension, and let's get voting!

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Community Staking Guides:

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ICONists:

  • Have a question or a query about the voting process? Share it here to receive advice and help from fellow ICONists and P-Reps.
  • Start conversations about who to vote for and what you want to see from your P-Reps.

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P-Reps:

  • If you have a guide or any important links you think we can add to our stickied thread please share it in the comments here and tag a mod, send a message to the mod team, or just DM me directly.
  • Share some information about yourselves and get to know your voters.

Posted Aug 26, 2019, 10:25 AM UTC · edited

3372
1983Lucky•

Idea for a useful tool. Mentioning it here so a P-rep candidate could pick it up for development. The tool would require the Iconist to enter his total ICX staked/delegated and the current percentage staked/reward rate. The latter should be pulled from Icon tracker automatically so the iconist should not need to add this himself.

The tool will then calculate the frequency for the Iconist that would make sense to claim I-score for compound staking in relation to additional staking rewards vs staking & voting transaction fee.

This tool will mostly be useful for people with lower amounts of ICX. As from a certain threshold daily compounding will be beneficial anyway. Some quick math shows that about 90K ICX and more would justify daily compounding, based on lowest reward rate of 6%.

If transaction fees for staking and voting are higher than the actual reward percentage on an actual daily reward in ICX, it's not interesting to do this daily.

8
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Interesting thinking!

3
[deleted]•

[deleted]

1
took3n•

We just released such a tool: https://medium.com/block42-blockchain-company/icx-stakr-released-773772cafc3f

1
Nessaki•

Another idea: a Kanban-board where both p-reps and iconists can drop ideas/tasks in a predefined format. Basically a backlog for the whole icon project that can be ordered by priority. P-reps can decide to drag tasks from the project backlog to the 'sprint backlog' (or whatever we want to call it) and work on them (maybe together with other p-reps). You can see it as an agile project with the community as a whole as product owner, P-reps and dapp teams as the development teams.

I would like it if the kanban board is added to for example the tracker so we can follow progress on topics.

8
f00dguy•

I like where this is idea is going.

6
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Me too!

5
KaneNine•

I dont see a voting tab in my ICONEX wallet

5
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Voting happens via chrome extension. Have you checked that it is updated?

7
[deleted]•

I am having problems even accessing ICONex. I have my ledger plugged in and unlocked, I am using ICONex Chrome plugin. When I hit "connect to ledger" in ICONex I get a windows security error "This security key doesn't look familiar. Please try a different one." also it says "making sure it's you" "Please sign in to https://hardwallet.icon.foundation .

2
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Strange mate. Did you try the approach detailed in the guide that's up in our stickied thread?

1
nassimmontreal•

Update your Chrome extension :)

6
KaneNine•

Thank you! Worked

6
evoxyseah•

I got the latest version (1.0.4.0), but I don't see the voting tab.

Solved [I just needed to create a normal wallet first before connecting it to my ledger]

2
[deleted]•

[deleted]

1
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Our very own u/radiofriendly123 has put together a staking guide video for anyone that is interested: https://youtu.be/uN1J0W_LG4I

Edit: updated video, updated link.

5
Claddayy•

Video removed by user.

1
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Ahh thanks mate. He has updated it today. Check out our YouTube channel and it's there.

https://youtu.be/uN1J0W_LG4I

2
GilgaCapital•

For anyone unsure as to why to vote for Gilga, check out this quick article. We appreciate any and all support!

​

https://medium.com/@GilgaCapital/gilga-capital-staking-is-live-c4e0368d01e

5
BIP42•

You have my votes!

3
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Great team, read up on them people!

2
BTCmadeME•

Steak baby!!! Finally, and on time!

4
took3n•

We would appreciate if you check out application (video incl.) if you are still looking for P-Reps: https://icon.community/iconsensus/candidates/132/

2
CryptoAstroHODL•

Looks like people are already trying to FUD ICX 12 hours after staking has started. Even though I can understand the concern with the price increasing due to the amount of people staking, this is a good thing. It gives people greater incentive to stake, increase ICX' value, and gives higher incentives at the end of each month. You have to remember that people will do anything to keep the price down and accumulate, which means trading it into the ground. If ICX is valued highly, that won't be a reasonable outcome for traders.

4
SniXSniPe•

How do you know who to stake/vote for?

4
DroogBrood87•

There are interviews with the p-reps on YouTube, that’s where i got my information from

4
UbikCapital•

interviews are good, content and engagement, proposals, and there's a handy tool here too for high-level quick filtering: https://p-rep.community

We have an in-depth proposal here if you'd like to check it out: https://www.icxstaking.com/UBIKv1.pdf

2
GilgaCapital•

It really depends on what team fits your vision for how ICON should expand. You can read our approach here: https://icon.community/iconsensus/candidates/62/ !

1
took3n•

Checkout our application: https://icon.community/iconsensus/candidates/132/We are based in central Europe and experienced in B2B blockchain consulting to businesses and corporates (yes, we also consult ICON) and development. Our other focus is investing into the most promising crypto ecosystem (ICON is one of them in our opinion). We would appreciate your vote so we can strengthen the ICON ecosystem in Europe :)

1
MadSpecialist1•

How can we make adjustments and redelegate our votes? I goofed up and staked but accidentally exited before voting for any p-reps. When I try selecting the wallet under the My Status tab in Voting, there's only about 3 ICX left in my wallet, an it shows that 0 ICX are staked. Looking at the Icon tracker, it shows the correct amount of ICX staked. What do you suggest I do? Thanks. I used a ledger nano for this.

4
MadSpecialist1•

Resolved: Just had to wait it out. Eventually the status in the Voting tab updated, correct amount of ICX staked was displayed and I was able to vote.

6
rocketshower•

All my preferred teams are safely in the top 22. Any quality team that I might have missed that is below 22, or in danger of falling below, which needs some extra love?

4
jeroennn040•

I am missing Iconnect Global in the top 22. It's the only team so far for Africa. And i think they should be in it for sure

2
NorskKiwiOPMod & IC:icon:Nation P-Rep•

I am wanting to vote for them too 😁

2
rocketshower•

Thanks! I will take a look and evaluate them.

1
jeroennn040•

Another big one (great contender) i am missing in the top 22 is Gilga. Actualy they are my personal favorite. Like their whole proposel.

1
New2Waves•

Best value for money team has got to be IConnect representing the millions of unbanked in Africa. Please show your love for this worthy team by staking your ICX with them.

4
CasterBaiterICON•

Yep.... they got 20% of my vote too. If they can accomplish half of what they are setting out to do it should really add a lot of value to people's lives and grow the Icon ecosystem at the same time. I certainly wish them luck.

2
jeroennn040•

Totally agree with you. They are one of my top contenders to.

1
[deleted]•

[deleted]

3
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Registration, that's all. They just need to get set up.

1
[deleted]•

[deleted]

1
f00dguy•

Question:

So pre-voting begins today and ends a few weeks later. Is there any incentive to vote now and not like a week or two later? I casted my votes, but it seems like I can continue to change my votes around, which confuses me a bit.

3
NorskKiwiOPMod & IC:icon:Nation P-Rep•

I believe the rewards offered by ICON for this prestaking month are also based on the length of time you stake.

3
[deleted]•

[deleted]

1
bzzking•

How high is the risk of staking?

3
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Life and death.. 😬😬

....

In all seriousness though, there are a few small risks, but as long as you apply a very small amount of caution (as you normally should) then you should be ok.

A few pitfalls to avoid:

  • Forgetting to backup your wallet and losing your private key and/or wallet log in details. Remember that your PRIVATE KEY is basically the master key for your holdings. It enables you to create a wallet that contains your coins as and when you require.

  • Confusing your private key and your public address, don't do that. Public key is your address that you share/use when you want to send coins to your wallet. It's also used with a password in a wallet. Private key is your master code as I said above.

  • Someone else gaining possession of your private key via physical or digital theft.

  • Human error in setting up your staking wallet eg sending your coins to an incorrect wrong address.

7
bzzking•

Thanks for the great info! I lost my private key for Vechain which I'm really sad about, there goes my coins lost in the blockchain forever haha.

I meant risk as in the risk of not getting your initial investment and /or reward from PoS. It cant be a guaranteed return right?

2
cossington•

You can't lose your coins, they're not leaving your account at all. There is a risk of not getting rewards if the party you staked to isn't running their node.

2
[deleted]•

[deleted]

2
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Oh that's horrible to hear mate..

The return of coins for staking happens, it is not optional 😉 it's math as u/Bittburger said.

I guess your actual question was how can there be 20 something % return on your investment?

A simple answer might be that the returns you see here are an arbitrage on emerging technology. It's got inherant risks involved like human error that are not covered by today's insurance marketplace (at least in my country).

1
[deleted]•

[deleted]

3
thelionshireUbik Capital P Rep•

Perhaps other clients or maybe a good stack they own

5
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Yeah that could be. Probably a few investor groups out there.

2
paddypadster13•

Two questions, apologies in advance if they are stupid.

  1. Why are there so many p-rep candidates listed on ICON website but only 30 or so available for staking?

  2. How do we check p-rep productivity levels to avoid any penalties if they fall below what is required?

Thanks

3
thelionshireUbik Capital P Rep•

Good questions:

  1. P reps could register about 12 hours ago. Not all haha done this - if imagine more will.

  2. During pre vote, there is no productivity. They will have productivity once elected in a month and you’ll be able to track on the icon tracker

4
NorskKiwiOPMod & IC:icon:Nation P-Rep•

They were great questions, thanks for asking them! u/thelionshire did a good job answering them.

3
TehJackAttack•

Awesome experience. I was a bit worried when my android app wouldn't allow me to stake/vote, maybe we can request a notice on the app that you need to use the browser extension. Once I got the browser extension rolling it was very quick and easy. Love it.

3
shortybobert•

How do you do it through the extension if you're using the Android app? I want to do this but I dont know how

2
TehJackAttack•

Just use your private key to load your wallet in your browser extension, it was pretty intuitive.

2
shortybobert•

Nice, thanks

2
Roegoos•

Great! But how does it work? have my coins stored on the Ledger but there's no way to get to the "Voting" tab. Anyone else having this issue?

3
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Have you tried loading up a dummy wallet in the chrome extension before connecting your ledger? Some people have been having bugs around this.

1
Vol_Har•

If you want to change (some of) the p-rep(s) you voted for, can you do this instantly and as much/often as you like or is there an unstaking period for vote changes, similar to the unstaking period if you want to sell your staked/voted ICX?

3
Spl3en ICONation Team | ICON Dev•

You can change your vote instantly. Staking and voting are different processes. Only unstaking needs a delay.

1
macmac360•

How long is the delay for unstaking?

1
Spl3en ICONation Team | ICON Dev•

It depends of the % of the network staked. This graph says it all : https://i.imgur.com/bFyfssR.png

1
took3n•

The un-staking period is somewhere between 5-20 days (based on the % of network staked). At the moment it's around 16 days. So you can't access your ICX for 16 days if you un-stake now.
If you are still looking for a candidate to vote on, check out our application: https://icon.community/iconsensus/candidates/132/

1
[deleted]•

I am having problems even accessing ICONex. I have my ledger plugged in and unlocked, I am using ICONex Chrome plugin. When I hit "connect to ledger" in ICONex I get a windows security error "This security key doesn't look familiar. Please try a different one." also it says "making sure it's you" "Please sign in to https://hardwallet.icon.foundation .

​

I have no clue what is going on but I am worried.

3
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Hey mate I did some digging about this and found that there is a bug in ICONex connecting to the ledger.

To get around it you need to login with a local wallet keystore before connecting to the voting tab and voting with ledger. This has caused some confusion as you cannot enter ICONex and connect directly with ledger (without having a separate wallet).

So basically create a new wallet via chrome extension then connect your ledger, and it works.

Let me know how that goes.

5
[deleted]•

Thank you, this worked.

2
NorskKiwiOPMod & IC:icon:Nation P-Rep•

Awesome, glad to hear it!

1
[deleted]•

can you define "local wallet keystore" and "create a new wallet via chrome extension" (do you mean create a new wallet inside my ICONex? I have an ICONex wallet from the token swap. Create a new wallet within ICONex or I need a different wallet (different chrome extension than ICONex?)

1
NorskKiwiOPMod & IC:icon:Nation P-Rep•

I'm meaning if you have a wallet all set up in your ledger, before connecting it via the chrome extension, you have to have started a new wallet or loaded an old one (doesn't need any coins in it). Once you connect the ledger it then swaps to your ledger wallet.

1
TehJackAttack•

Did you create a wallet in IconEx before attempting to connect your ledger? I've heard mention that this is necessary (possibly a bug).

3
TehJackAttack•

someone from Ubik was posting this earlier on a thread directly relating to hardware wallet issues:

​

If anyone wants to vote with ledger, they must:

  1. Use an existing wallet on ICONex (or create a new one). You will not use this wallet, but there is a bug requiring a wallet.
  2. Connect to the wallet.
  3. Click voting tab.
  4. Click connect to ledger
  5. You can vote with ledger
4
UbikCapital•

yes, this is how all have staked, due to a UI bug. We have let the ICON team know. Unknown how long it will take to fix, but it works and you can see the tx and delegation in ICON tracker.

2
petezakang•

After I vote from my ledger, are the coins supposed to disappear from the ledger?

1
[deleted]•

[deleted]

1