General Staking Questions
How do I stake Peepcoin?
- First, you must acquire Peepcoins on an exchange, visiting this page to see what exchanges are “swap ready”.
- Then you must download the Peepcoin wallet from this page.
- Make sure your antivirus and firewall are disabled and other administrator privileges are enabled.
- Then you must download the bootstrap using OPERA or CHROME internet browser and synchronize your wallet using the guides on the “wallets” page (this can take up to 4 hours with the current bootstrap, or 7 days without it).
- Before you continue, ENCRYPT your wallet by going to Settings->ENCRYPT WALLET and entering a PASSPHRASE. WRITE DOWN THIS PASSPHRASE, IF YOU FORGET OR LOSE IT, YOUR COINS WILL NOT BE RECOVERABLE!
- Once you have downloaded and synced your wallet, transfer your Peepcoin from the exchange to your Peepcoin wallet.
- Then unlock your wallet by going to Settings->UNLOCK WALLET then enter your PASSPHRASE and wait 510 minutes for it to begin staking. Once your Peepcoins begin staking, it will have a low weight, this “weight” will increase over time, and eventually, you will get a stake reward, averaging approximately .272% a day averaged.
What is the return on Peepcoin staking?
Peepcoin has 100% annual staking, this averages to approximately .272% per day if you are getting daily Peepcoin rewards.
How many coins do I need to stake daily?
At current Peepcoin network difficulty (displayed here 24/7 on the block explorer or via “getinfo” command on the wallet’s debug console) you will require ~50 million Peepcoin to stake daily. This is a very rough estimate, as the difficulty can vary widely. The annual return on Peepcoin is always 100%, no matter when you *get* your reward.
What is an orphaned block? What does “generated but not received” mean?
An orphaned block in PoS works the same as an orphaned block in PoW, but for Peepcoin’s proof of stake, an orphaned block does not reset your coin weight. If you get a “generated but not received”/orphaned block, then your coins will stake more next time to make up for the lost stake.
Will my coins stake if I close my wallet? What if I turn my computer off?
Your coins will not stake while offline, but they will gain “weight” while the wallet is offline. To *get* a Peepcoin stake, your Peepcoin wallet must be turned on, connected, and unlocked. You do not lose stake return for having your wallet off, but you will not get a stake if you do not turn the wallet on. A good idea is to open your wallet at least once a day and allow it to sync.
Should I send Peepcoin to an already staking wallet or a separate address?
You can send coins to an already staking wallet without disrupting the staking process. The new coins will take 510 maturations (~510 minutes) to begin staking.
What do the time options in the “staking” window mean?
These are estimates for when a certain stack of coins is expected to stake. This is a highly experimental page, so be aware it will display old stacks of coins alongside current stacks and may not be fully accurate. The “staking” page does not have any effect on your staking.
How will Peepcoin’s staking change in the future?
Peepcoin will stay separate from DAPS, and we will produce DAPS-specific guides and information on PoSv3 and the DAPS masternode process.
Manually Recombining Coins
How do I group transactions together into a single amount for staking?
FIRST you must go to Settings->Options->Display->Toggle “DISPLAY COIN CONTROL FEATURES” [NOTE: This step is NOT needed in new Peepcoin wallets, Coin Control is now enabled by default!]
Then go to “SEND COINS” page on your Peepcoin wallet, you will see an “INPUTS…” button on the top-left.
If you see “Inputs…” follow the steps below:
Once you select “Inputs” you will be sent to this window:
Select “Select all”
Right click on “ADDRESS” and “COPY ADDRESS”
You will be back at the “Send Coins” screen:
Paste ADDRESS into “PAY TO:” and “CUSTOM CHANGE ADDRESS” spot
Copy “AFTER FEE” amount
Paste “AFTER FEE” into “AMOUNT”
SEND transaction, enter PASSPHRASE when prompted
Then go to your “Transactions” screen:
You will see “Payment to yourself” with the “amount” as a negative number, representing the fee you paid to recombine your coins.
Congratulations! Your Peepcoins are now all in one stack. When combined and using properly tweaked options in the Peepcoin.conf file detailed on this page, you will hopefully not need to do this process manually again!
To setup your staking options read below.
Peepcoin.conf Staking Options:
This can be adjusted in your Peepcoin.conf file:
These settings will make it so any stack below 500m automatically recombines upon staking. Note: You must recombine your coins into one stack, it does not automatically combine stacks that are already split!
Peepcoin.conf Staking Options Explained
-stakegen= Generate coin stakes (default: 1 = enabled)
-stakemintime= Set minimum time for input stack to be considered for auto combine, in blockchain hours
-stakemindepth= Set minimum confirms for an input stack to be auto combined (default: follow -stakeminage)
-stakeminvalue= Set the minimum amount of coins to include in these checks (Example: If set to 100000, Peepcoin stacks below this would not be auto combined)
-stakecombine= Combine Peepcoin inputs below this value
-stakesplit= Splits staking outputs above this level
1. Staking starts when Peepcoins reach 510 confirms.
2. Wallet uses every input for staking. Every coin in a wallet above 510 confirms gains “staking weight”.
# It’s also based on slight luck and difficulty, but Peepcoin’s average is 100% annually
3. After a coin stack stakes, its coinage is reset to 0, so this group of staked coins must wait 510 confirms to begin gaining staking weight again
4. Sending/splitting/staking coins resets coin age
# Coins may sometimes stake to a “change” address
5. Autosplitting of coins repeats until “stakesplit” level has been reached.
6. “Stakecombine” combines Peepcoin inputs below this value
# If you have many small blocks, manually combining them could help
7. Inputs below the stakemintime or stakemindepth limit are not included in auto-recombine checks