elective-stereophonic
elective-stereophonic
Noob NXTer, 1:1 Nxt-ARDR Ratio, Need Help Understanding Leasing Pool & Drawbacks singapore
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Author Topic: Noob NXTer, 1:1 Nxt-ARDR Ratio, Need Help Understanding Leasing Pool & Drawbacks  (Read 1927 times)

crowdconscious

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Hey awesome NXT community!

So I have just downloaded the NXT blockchain and wallet - my initial deposit is about to hit 1440 blocks.

I have been reached out to by a NXT mod via Twitter channel and just want to confirm how leasing works and what the drawbacks might be here. For instance, the mod sent me this:
imgur(dot)com/a/6Ic4T

Essentially says "1 NXT = 1 ARDR get your stake in Ardor by holding NXT"

Now, if I lease my 100% balance to another NXTer, do I still earn 1:1 ratio of NXT to ARDR despite leasing my forging power to another NXTer?
Also, how do I know how much ARDR I'm earning?
Does it simply need to be in my NXT wallet?
Or do I need to do something with my NXT in order to earn that Ardor?

I cannot leave my laptop on 24 hours as it is a bit older and I'm afraid it will burn out before I get a new one sometime soon here. The mod claims that leasing my NXT to them will give me a higher leasing rate and that they are a NXT community moderator:

I read if you lease, you have to 'trust' the person you lease to...a random mod on Reddit  channel could easily be scamming me so I just want to double check with the community since I'm new :)

Thank you!
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shugo

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Hi and welcome here

Quote
Essentially says "1 NXT = 1 ARDR get your stake in Ardor by holding NXT"

Sorry to disappoint you but this was in 2016. Ardor Tokens are already distributed. You can buy Ardor tokens in the NXT Client under Asset Exchange (Asset ID: 12422608354438203866).

But in 2-3 weeks there will be the IGNIS ICO and later the snapshot. During the IGNIS snapshot you will receive 0.5 IGNIS for every NXT you hold by then (similar to ARDR Snapshot last year). IGNIS will be the first child chain on the Ardor Blockchain when it is launched (ARDOR Tokens will be transformed to ARDOR after the snapshot).

So to answer your questions anyway (and adapted to the IGNIS Snapshot):

Quote
Now, if I lease my 100% balance to another NXTer, do I still earn 1:1 ratio of NXT to ARDR despite leasing my forging power to another NXTer?
--> I never leased but I guess you will receive your IGNIS during the snapshot as if you are not leasing.
Quote
Also, how do I know how much ARDR I'm earning?
--> Depends on how much NXT you have (leased). But I have no idea.
Quote
Does it simply need to be in my NXT wallet?
Or do I need to do something with my NXT in order to earn that Ardor?
--> Yes, just keep your NXT in your NXT Client Wallet and you will participate in the IGNIS Snapshot (0.5 IGNIS for 1 NXT)

What is the Name of the mod? I'm a bit curious since the ARDOR Snapshot is long over, so better be sure...
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crowdconscious

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Thank you for response!

So if I just have the NXT held in my wallet, it will just deposit the .5 IGNIS for Every NXT into my wallet? Or do they have to be forging?
« Last Edit: July 29, 2017, 10:35:54 pm by crowdconscious »
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shugo

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Quote
So if I just have the NXT held in my wallet, it will just deposit the .5 IGNIS for Every NXT into my wallet? Or do they have to be forging?

Yes, just hold your NXT in your wallet. Doesn't have to be forging.
You can also buy IGNIS with your NXT during the ICO (which is short before the snapshot) but an announcement will be made in time with more details (price of IGNIS) so you can decide if you want to buy IGNIS with your NXT or just hold NXT and get the 0.5 IGNIS for free.


I'm the wrong person for questions about leasing since I've never done it before. I forge with enough NXT that I get some blocks myself.
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