Yoroi mobile update and Should you stake your ADA

Yoroi mobile update and Should you stake your ADA


welcome everyone I hope everyone is
having a great day I deleted my previous
video I wanted to give you a quick
update Nico and Sebastien actually made
a video for Emurgo and released it on
their YouTube channel
it goes through of various different
topics on the reddit they talk about
mobile staking they talk about Yoroi all the nuances behind what address
are snapshot ready it turns out that
mobile addresses will be snapshot ready
I’m still a little bit confused as to
whether or not there’s going to be
certain staking interfaces within the
mobile app I see it as kind of basic so
it’s going to take a lot of work in
order to get that delegation feature on
to the next version of the mobile app
but who knows they may do it personally
me
I keep most of my funds on Daedalus so
I don’t use Yoroi on a
daily basis or even moving forward when
I’m staking I’m probably going to be
using Daedalus more often than not
but I want to apologize for everyone
that thinks that their mobile wallet is
not snapshot ready it turns out it is
snapshot ready information sometimes I
feel like it’s a little bit confusing
because there’s not a syndicated effort
from all three entities the Cardano
Foundation, IOHK, and Emurgo to get
information out it’s kind of like one
piece of information goes and you feel
like the other branches are scrambling
so there’s a lot of misinformation out
there. There are multiple different
things being said online so it’s very
difficult to figure out what is going on
but the facts are Daedalus and Yoroi
will be snapshot ready hardware
wallet support will not be snapshot
ready regardless of if you’re using a
Ledger or Trezor so if you want to get
that out that’s good so moving forward
I’m probably going to try and wait a
little bit longer before I release a
video I just get excited I want people
to be stake friendly. You still could have issues you
may want to just stick with the mobile
wallet, the web wallet or Daedalus
so that’s that moving forward I’ve
also received questions about reward
percentages and once again
nothing’s been finalized so it just
words being said
and headlines being created but
nothing has been finalized but in the
AMA David Esser said it’s between
someone asked between 3 and 12 percent
he says that he expects the rewards to
be towards the latter half so towards
that 12 percent range but it could be 10
it could be 8 or it could be 3 from
what I understood from the white papers
and the documentation on the Cardani
website the number of transactions per
epoch are directly correlated to the
transaction rewards in a given epoch
so that being said I didn’t expect there
to be lots of transactions going through
the test net to justify a high incentive
rewards rate but it turns out I’m
probably completely mistaken and looking
at it in retrospect I understand that
maybe that their stress testing the
system and they’re going to put as many
transactions because this is
fake ADA it’s not real until we hit the
main net so maybe as many transactions
through any given epoch as possible and
seeing exactly what stresses the
system can take that ultimately means
that we’re gonna get more rewards which
is a benefit for everyone also people
have been a little bit dubious as to
whether or not they should move their
ADA from their wallet or their cold
storage to participate in the test net
it’s all up to you I can’t give you that
advice personally given the record and
what’s gone on with this project we know
that the deadlines are not completely
stringent so we could be stuck on the
incentivize test net for five six months
half a year personally me I don’t want
to miss out on rewards for that long and
I’m going to be staking regardless I’m
going to be taking certain safety
precautions and showing you exactly what
I do there is a buffer so as soon as
that snapshot takes place there’s going
to be a little time before you can
download the Daedalus test net wallet and
the Yoroi test net wallet to start
delegating your stake what does that
mean is in that meantime because you’re
going to have to enter your seed phrase
into the incentivized test net what I’m
going to be doing is from that snapshot
date to the actual download of that test
net I am going to be
being my funds the majority of my funds
to a new wallet after that snapshot
because there’s going to be that grace
period before we start staking so that’s
what my course of action is going to be
and of course things could change
because that’s what was said previously
but there’s no press release there’s
nothing of that nature so once again it
could start right after I mean I’ve been
mistaken before and you just kind of
have to roll with it but I think that
moving forward I think the project needs
some dockets like some one
pagers or two pagers after a certain
announcement so it doesn’t feel like
it’s scrambling because I feel like
things are being adjusted on the fly and
it’s kind of strange because
IOHK released something the
AMA started talking about the
incentivized test net
IOHK talked about it and then
the team behind you Yoroi, Emurgo, has to create their code in order to
be ready for staking so it’s kind of
like branches are playing catch-up to
the announcements of other branches so I
don’t know if that’s an issue, but
I made that video, I spent some
time making that video bringing the
mobile app to the web wallet personally
I’m still not going to keep any of my funds
in a mobile wallet even though it’s
snapshot ready because I just don’t
think that there’s going to be staking
interface on that mobile version at
least day one it won’t be there
so maybe I’ll make a video with
just a few ADA on there showing people
how it’s done when it’s time but until
then I’m keeping my funds on
Daedalus and Yoroi is always of course is
good as well.
Get your wallet on a snapshot ready
address if you want to stake I’m going to
be staking there’s no way I’m missing
rewards no way I’m missing rewards
especially for that long so if you do
not take that plunge forward note that
you may be missing rewards for a pretty
long period of time and yeah
I’m here I’m gonna be making as many
videos as possible walking people
through. I’m going to try the live
thing trying to get on live probably
waiting for some more information from
IOHK before that happens
as far as stake pool rewards that we’re
going to be
offering for our stake pool
stakecardano.io I’m not a hundred
percent sure yet because the rewards for
for staking have not been finalized yet
so in order to determine my cost
structure I need to have a little bit
more information so once that happens
I’ll be as transparent as possible and
make sure that everyone who signed up
via email is going to have access to
that information I’m going to be making
videos as well I’m going to try the live
thing so I can answer as many live
questions as possible and as we get
closer to the date you’re gonna see me
more and more and more. I’m going to be as
available as possible
if you’re going to
participate you should participate I
really think you should it’s not going to
be as hard as you think you have to
take safety precautions but that’s what
it is so have a wonderful day
enjoy and until the next video
all right thank you

35 comments

  1. Thanks Phillipe. Is it true during the testnet staking period, the funds allocated to staking are locked and cannot be traded?

  2. From what I understood yesterday from Sebastian's video is that leaving the funds in the Daedalus Wallet will be snapshotted. I got a misunderstanding last time, that we needed to move the funds to the Daedalus Testnet.

  3. I have just notified on your website my email and name. After the snapshot on yoroi I will move my ada to another yoroi +ledger for safeness. when the yoroi dowloading is ready i send there and I will delegate your pool for staking my Ada. Thanks for now.

  4. Let’s say it without manners I m a true believer in ADA but…I m doing it for rewards and money. It’s very important to focus NOW on business and development for us. Because it’s so long and technical. That’s should be easy peasy. Please talk to them.

  5. Thanks,philpa great👍never missing your vlogs.
    Even staking is a long way off the mainnet i will not move my ada to testnet dont want to put my 12 words anywhere even for free ada.
    I am just keep on buying ada @ this briljant low price.not taking any risk with my original wallet&words .
    I am 100% mainnet only😁

  6. Do wee need our Daedalus wallet to be online, or we can shut off our PCs when the snapshots occur? Can I delete my wallet off my PC too? I just keep my seed words with me.

  7. I watched q&a latest explanation. Im wondering. So many question and so many answer "it depends IOHK" who guys in IOHK can control all of it?

  8. Max ada 41B. Current supply ~25B. Calculate how long to get to 41B. I presume they don’t want rewards to be halted after 15-20 years. Perhaps it will be front weighted, to encourage participation early and then taper off.

  9. I'm guessing if you move your funds after snapshot you'll not get any benefit. Surely the 'snapshot' will be such that the staking testnet is a continuous copy of mainnet, with no transactions in or out, only staking – otherwise, if you are right, the opportunity for 'free money' is there and ADA prices will spike and crash around the snapshot date. Please correct me if I'm wrong. Clarity much need on this.

  10. Hello, do you have video about cardano technilogy perspective in the future?
    Why you think the world will adopt that technology and is there any bright future for it?
    And what do you think about ADA price in 2-3 years, and why?
    Sorry for my english )

  11. I agree 100% with you regarding a memo/1 or 2 pager as a necessary component to communication regarding smaller steps in the project. Can be as simple as posting/publishing on all three org’s websites. Foundation, IOHK & EMURGO. Thanks for your diligence.

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