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Current: "You can perform the update commission operation 7 days after your last set commission. You have X days remaining before you can update."
Want to Update: "You can perform the update commission operation 7 days after your last set commission. If you stop your collator during this period, the remaining days will still apply before you can rejoin or update. You have X days remaining before you can update."
More info:
Explanation of the Update Commission Waiting Period:
Cannot Change Commission Immediately: This measure is in place to protect the interests of ordinary users. Users may choose a collator based on their low commission rates. If a collator changes their commission during the reward distribution period and it takes effect immediately, the users’ rewards would decrease. For example, a collator might set a 1% commission while in the waiting state to attract users, but once active, they could change it to 100%, causing all rewards to go to the collator.
7-Day Waiting Period for Commission Updates: The waiting period aligns with the 7-day reward distribution cycle. This ensures that commission changes do not affect rewards that have already been calculated.
Possible Issues You May Be Facing and Solutions:
As a Collator Unable to Update Commission: Please verify if the 7-day waiting period has passed. If more than 7 days have elapsed and the commission update has not taken effect, please provide your address so that the developers can investigate the issue.
As a Collator Wanting to Stop Services: You can execute the stop operation immediately. After stopping, you need to manually unstake. Once unstaked, RING will return to your balance. p.s. Unstake Rules: After the last stake operation on the current collator, you must wait 1 day before you can perform the unstake operation.
After Stopping a Collator, Wanting to Immediately Recreate It: The system will first check if your address has performed an update commission operation. If you stop the collator only one day after updating the commission, you will not be able to rejoin as a collator immediately. You will need to wait 6 days(7 -1) before you can rejoin the collator.
The text was updated successfully, but these errors were encountered:
And also when collator want to "stop collation", I think it's better to update this content to: "Are you sure you want to stop collation now? Stopping collation will not reset the 7-day waiting period for updating the commission. If you have performed a recent commission update, the remaining waiting period will still apply before your address can rejoin as a collator or update the commission again."
@1022ranji think all of this looks good for warnings. It helps collators understand what is going on. Stopping collation was not the root of the problem we were discussing on Discord as that node just randomly dropped from the set after being active but that was solved in a manner that worked.
Will this tip be clearer than before? @hujw77 @snoopy1412 @2xJDubs
Current: "You can perform the update commission operation 7 days after your last set commission. You have X days remaining before you can update."
Want to Update: "You can perform the update commission operation 7 days after your last set commission. If you stop your collator during this period, the remaining days will still apply before you can rejoin or update. You have X days remaining before you can update."
More info:
The text was updated successfully, but these errors were encountered: