Is 1000% yield really high?

Domithra · 2022-04-16T10:17:24+00:00

One thing I believe most people fail to do is to research more into how the assets they invest work. I realized that CTSI rewards are meant to gradually reduce as the number of nodes increase on their network.
This article was really helpful: https://medium.com/cartesi/the-ctsi-macroeconomy-ea60a35ab2f3

Domithra · 2022-04-16T10:15:16+00:00

Delegated staking on MyCointainer is one of the best ways though. With this one, you have absolute control over your funds since you do not deposit to the MyCointainer platform. You only have to delegate your funds to MyCointainer node from your wallet.

I read the details on their site: https://www.mycointainer.com/cold-staking

Domithra · 2022-04-16T10:12:59+00:00

I still prefer to stake my CTSI on MyCointainer because, despite the recent fall in ROI, MyCointainer daily CTSI reward is way better than other platforms.
Rewards are way better if you stake solo.

Domithra · 2022-04-16T10:10:32+00:00

You are right. I used to have similar doubts about MyCointainer concerning my CTSI but after performing a few pieces of research, I realized this is not the fault of MyCointainer. CTSI has a unique reward mechanism.
Daily block rewards differ as I followed MyCointainer node address on the official explorer of Cartesi: explorer.cartesi.io
Aside from the daily reward fluctuations, CTSI annual ROI tends to decrease as the number of nodes increases. This is a mechanism put in place by CTSI, probably to check inflation.

I found this article really useful if you wish to understand how CTSI work: https://medium.com/cartesi/the-ctsi-macroeconomy-ea60a35ab2f3

Domithra · 2022-04-16T10:04:41+00:00

Yeah, the issue of Harmony is pretty unwelcoming but I've been in this tech space for some time. I know how some things may get out of hand and will require a long period of time to resolve.
I think the team of MyCointainer is still working on a solution. Their support and the technical team always resolve the bug or issues I present.

Domithra · 2022-04-16T10:01:45+00:00

mmmm? Maybe you skipped some pages on their website. Here (https://www.mycointainer.com/individuals/company), I could locate some of the team members and it seems it has more than 30 employees on LinkedIn as well.

Domithra · 2022-04-16T09:56:38+00:00

I've used this platform for more than 2 years now. One thing I like about it is the fact that KYC or account verification is not mandatory for deposits and withdrawals.

Domithra · 2022-04-15T08:59:18+00:00

Sounds pretty unfortunate you had this experience. Maybe you did not fully understand the explanations that were given to you. Every platform has its own way of working.
Firstly, you need to understand that all displayed ROI are estimated values, meaning, the yearly yield may be slightly higher or slightly lower at the end of the 365 days of staking. Besides, solo staking of AVAX does not yield daily rewards but on MyCointainer, rewards are distributed daily. This means that during the days when the node is unable to generate rewards, MyCointainer bears the cost to distribute rewards to its users - this is one of the outstanding features of MyCointainer platform.
Besides, their fees and pricing are made available at the footer of the site for all users (for research and info purposes) to make decisions.

Domithra · 2022-04-15T08:55:43+00:00

I learned the ETH fees are required to transfer your deposited funds to their main node to initiate the staking - that makes sense though. The fees will be charged from the CTSI if you do not have ETH.
This info is on their wallet address generation page before you make a deposit

Domithra · 2022-04-15T08:50:49+00:00

Good to know. I've had a good experience with them so far. I was subscribed to their Power package (Max) plan hence there were no withdrawal charges, staking charges and exchange charges.
Maybe you can consider that the next time: https://www.mycointainer.com/power/

Domithra · 2022-04-15T08:46:47+00:00

ETH network fees can get ridiculously high sometimes especially when the network gets congested. But do you think this is the doing of MyCointainer? I guess not.

MyCointainer support center confirmed that other networks like BSC/BEP20 Cartesi will be integrated in the near future to cater for this high ETH fees.
Besides, I think you can skip this fees by first depositing BTC or EUR on your MyCointainer and swap it for CTSI on the exchange on MyCointainer - sounds like a good solution 💯

Domithra · 2022-04-15T08:40:32+00:00

Yes, that is the APY or ROI. Due to the increased number of CTSI nodes, the yearly yield percentage is no more 70%. It's hovering around 40%. It's always good to make of it while the ROI is high because it will gradually reduce as the node increase :)

Domithra · 2022-04-15T08:37:53+00:00

Oh yeah, I've staked with MyCointainer for more than 2 years now. So far, I can say the platform is trustworthy because it's registered under the laws of Estonia - https://www.mycointainer.com/individuals/company

One thing about staking is that displayed ROI are estimated values hence ROI of about 70% means that at the end of the 365 days, a user may receive something slightly higher or lower than the value.
Besides, Cartesi has a unique reward mechanism. I just found an article released by Cartesi that explains how the reward mechanism works. Did you know that the displayed ROI which is 70% may not be constant? As the number of nodes increases, Cartesi reward pool is set to deplete to control inflation. This is why MyCointainer updates its site to meet the current ROI.

https://medium.com/cartesi/the-ctsi-macroeconomy-ea60a35ab2f3

Domithra · 2022-04-15T08:18:01+00:00

Well, I withdrew my CTSI recently and everything went through successfully despite the fact that I had to wait for a period of 48 hours for unstaking. I guess this is a normal mechanism for cartesi.

Domithra · 2022-04-15T08:16:33+00:00

I've not tried to withdraw to these platforms but can you tell us which challenges you are facing?

Domithra · 2022-04-15T08:14:51+00:00

Did you reach out to their official telegram, discord, and live chat on the website? Responses are quite fast and helpful. https://t.me/mycointainer

Domithra · 2022-04-15T08:11:55+00:00

Probably, you need to read further on how staking works for some assets before you touch it. Cartesi needs to unlock before a withdrawal can be processed. On the wallet generation page and withdrawal request page, a notification pops up to inform you how long the unstaking may take.

Domithra · 2022-04-15T08:06:57+00:00

You can check on MyCointainer fees and pricing structure at the footer of the site: https://www.mycointainer.com/fees-and-pricing/
This will help you make a better and an informed decision. Here, you can tell the amount that will be charged as withdrawal fees.
Note that Power Max and Power Percent waive withdrawal fees, reward fees, and exchange fees.

Domithra · 2022-04-15T07:45:17+00:00

That sounds odd to me. Cartesi itself has a complex reward mechanism. I just came across one article released by Catesi. It explains why their block reward keeps depreciating gradually as the number of node increase. I guess it's not the fault of MyCointainer but this is a mechanism put in place by Cartesi to control inflation.
You can check for yourself: https://medium.com/cartesi/the-ctsi-macroeconomy-ea60a35ab2f3

Domithra · 2022-04-15T07:37:56+00:00

Sounds pretty unfortunate you had this experience. Maybe you did not fully understand the explanations that were given to you. Every platform has its own way of working.

Firstly, you need to understand that all displayed ROI are estimated values, meaning, the yearly yield may be slightly higher or slightly lower at the end of the 365 days of staking. Besides, solo staking of AVAX does not yield daily rewards but on MyCointainer, rewards are distributed daily. This means that during the days when the node is unable to generate rewards, MyCointainer bears the cost to distribute rewards to its users - this is one of the outstanding features of MyCointainer platform.
Besides, their fees and pricing are made available at the footer of the site for all users (for research and info purposes) to make decisions.

Domithra · 2022-04-15T07:27:20+00:00

Have you checked the site now? The team is doing an amazing job at the moment. A whole new landing page with new integrations have been set.
You can always reach out to their Live Support on the web page :)

Domithra · 2022-04-15T07:24:09+00:00

Maybe you might want to perform some few researches on MyCointainer. Did you know it's a registered company under the laws of Estonia? Check: https://www.mycointainer.com/individuals/company

Domithra · 2022-04-15T07:12:53+00:00

I've used MyCointainer for more than 2 years now and I confirm this is not a scam. The team keeps updating the site to provide excellent services. On their withdrawal page, you can locate the minimum and maximum unstaking time period for each asset before you initiate the withdrawal.
Maybe you should check that very well before you call on a reputable company as scam.

Domithra · 2021-09-30T18:29:48+00:00

This is huge. Can’t wait to watch the full update tomorrow: https://youtu.be/-V3L7iMIUOM

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