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Version 1.5 of the Peerplays Core Wallet added the GPOS functionality for the first time; this document will step you through the new features it implements to ensure you qualify for maximum participation rewards.
The landing page is the entry point to use the different GPOS features.
Clicking on Power Up
will take you to the deposit screen where you can vest PPY towards GPOS and in turn, add to your participation rewards.
You can click Power Up
at any time since you are free to come back and vest more PPY at your discretion.
Clicking on Power Down
is very similar to Power Up
except this time you'll be taken to the withdraw screen.
You can withdraw form your GPOS balance at any time up to the value of your balance.
Important: If you have a GPOS balance of zero the Power Down
button will be disabled
For anybody familiar with earlier versions of the Peerplays wallet, the voting section is much the same as before. Only the steps to go through to access this feature have changed.
Important: If you have a GPOS balance of zero the Vote
button will be disabled
The home page of the wallet now includes a panel to display your GPOS status.
The features of the panel are:
This is the total amount of PPY that has been vested. In the above example the amount is zero which is reflected in the Voting Performance as well.
Voting performance is calculated based on the last time you voted for either Witnesses, Advisors or Proxies. The text and colour of the caption indicates your performance according to the following table:
Clicking on the GET STARTED
button will begin the GPOS vesting process.
As mentioned, this option is only available once you have a GPOS balance.
Clicking on PARTICIPATE
will take you to the GPOS Landing Page as before, except this time both the Power Down
and Vote
buttons will be enabled.
If you have a zero GPOS balance, which will always be the case if this is the first time you are using it, the button text will be Get Started
. However, the text on the button will change to PATICIPATE
once a balance is vested. See
Reward % | Text | Colour |
0 | No rewards | Dark Red |
1- 16.68 | Critical low | Red |
16.69 - 33.33 | Lower rewards | Orange |
33.34 - 50 | Low rewards | Yellow |
50.01 - 66.66 | OK rewards | Blue |
66.67 - 83.33 | Good rewards | Dark Green |
83.34 < 100 | Great rewards | Green |
100 | Max rewards | Same colour as other captions |
If you have a GPOS balance then you can access the Power Down screen from the GPOS Landing Page.
After clicking on the Power Down
button you'll be taken to the Power Down screen; from here you can withdraw from your GPOS balance.
Unsurprisingly the Power Down screen follows a very similar format to Power Up; you just use it to withdraw from your GPOS balance, instead of adding to it.
And just like the Power Up screen you can select an amount by scrolling up and down using the +
and -
buttons. The amount you select will be shown in the Withdraw field and reflected in your New GPOS Balance.
You can withdraw up to the total amount of your Opening GPOS Balance.
Note: There is a transaction fee of 0.01PPY each time a withdrawal is made.
In the example above the user has no vested balance. If an amount of 80PPY is vested the New GPOS Balance will be 80PPY and if the user power's up again the Opening GPOS Balance will be 80PPY as will the New GPOS Balance.
In the example above note that although the Opening GPOS Balance is 80PPY the Available GPOS Balance is zero. This is because there is a 30 day holding period on new deposits. In this example the deposit was made the same day as the requested withdrawal.
The main reasons for having a holding period are:
It's in your best interest to maintain a GPOS balance, withdrawing from the balance will effect your participation rewards.
Withdrawing all the balance before 30 days could also effect your reward percentage by stopping you from voting.
There are fees associated with creating a balance and withdrawing from it. A holding period protects you from 'experimenting' with vesting and incurring unexpected fees.
Click on the CANCEL
button to leave this screen without saving any changes. Or click on SUBMIT
to save changes and return to the GPOS Landing Page.
You made it this far; now you qualify for participation rewards for contributing to the governance of Peerplays.
After you vote you'll see the following screen:
So like the avatar says, go and share your experience with your friends, family and the Peerplays community.
If you have a GPOS balance then you can access the Vote screen from the GPOS Landing Page.
After clicking on the Vote
button you'll be taken to the Vote screen from where you can vote for Witnesses, Advisors and Proxies.
The voting functionality hasn't changed from previous versions of the Peerplays Wallet so will only be documented briefly here.
Proxy voting allows you to select another token holder to vote on your behalf. As far as GPOS goes this still constitutes participation as you have made a commitment to the operation of the blockchain.
However, since there are participation rewards at stake, and penalties for poor voting performance, if you use this option make sure you proxy your vote(s) to someone reliable!
Voting for a Witness is probably the most common use of a vote. By voting for a Witness you are playing an important role in the governance of Peerplays.
You can select one or more Witnesses from the list, or search for them, and then click ADD
to add them to your approved list. Click PUBLISH CHANGES
to cast your vote.
The Peerplays Advisors are a committee that makes decisions on software changes to Peerplays and attributes and parameters of the blockchain. They are an important part of a DPOS consensus mechanism.
Selecting an Advisor works exactly the same way as selecting a Witness.
Important: Whether voting for Witnesses, Advisors or Proxies you must first click onPUBLISH
CHANGES
before you'll be able to click onFINISH
.
Click on CANCEL
to return to the GPOS Landing Page without voting, or click on FINISH
to go to the Thank you for voting! screen.
After clicking on the Power Up
button on the GPOS landing page you'll be taken to the Power Up screen; from here you can add to your GPOS balance.
The functionality of this screen is very straightforward. Simply select an amount of PPY to vest by either entering it in the Deposit field, or scroll the amount up and down using the +
and -
buttons.
Important: You might think you can vest 100% of your PPY balance to get the maximum participation rewards. However, each time you create a vested balance there is a 1PPY transaction fee. This means that you must leave at least this amount in your balance in order to perform the Power Up.
In the example above the user has no vested balance. If an amount of 80PPY is vested the New GPOS Balance will be 80PPY and if the user power's up again the Opening GPOS Balance will be 80PPY as will the New GPOS Balance.
Click on the CANCEL
button to leave this screen without saving any changes. Or click on SUBMIT
to save changes and return to the GPOS Landing Page.
Note: Creating a GPOS balance doesn't yet qualify you to receive participation rewards, you must still vote.