1. How much will I earn by staking with the Blu Blu Network?
Delegators can participate on the network by staking their VideoCoin with a pool, such as the Blu Blu Network’s pool. Each pool has different payouts, though we offer a generous 20% of rewards earned from our worker nodes.
If multiple delegators are involved, earned rewards will be shared out proportionally to the number of tokens delegated to that worker.
For example, if a publisher spends $1000 for video transcoding using our workers, $40 (or 4%) will go to the VideoCoin team and $960 (or 96%) will go to the network participants (delegators and workers).
80% of the $960 (which comes out to $768) will go towards running, maintaining and scaling our operations with the Blu Blu Network. However, 20% of the $960 (or $192) will go directly to our delegators – proportionally split depending on their % stake on a worker.
No pool can guarantee a fixed sum of money for staking. We get paid only when one of our worker nodes completes a job on the network. From there, the payment is distributed among the delegators (stakers) according to our percentage split.
However, we’re always striving to achieve the highest uptime and performance to offer our delegators the highest possible payouts.
2. How do I get paid in cash?
You’ll have the option of being paid in cash, VID tokens or both. Cash rewards are automatically paid on a third-party blockchain: Public Mint. VideoCoin token rewards are automatically paid on the VideoCoin blockchain.
Public Mint, developed by VideoCoin CEO Halsey Minor, is a fiat-native blockchain platform to make fiat transactions efficient yet accessible. They’re partnered with over 200 insured banks that hold fiat funds, thus acting as the custodians.
This decentralized fiat layer immediately turns the payment model into a trustless and transparent experience. In other words, we don’t have to “trust” VideoCoin to pay us the cash rewards we’re owed!
To learn more on how to sign up for Public Mint and get set up, check out our tutorial here.
3. How long do I need to stake my VID tokens for?
If you decide that the Blu Blu Network isn’t for you, or if you decide you don’t want to stake your VideoCoin tokens anymore, you’re welcome to unstake. Visit our un-staking guide to learn how.
You’ll earn a share of our rewards according to the number of blocks that your tokens are staked with us.
4. Why should I stake with the Blu Blu Network?
We’re heavily invested into the VideoCoin network with VID tokens, first-class hardware and educating the market. Simply put – we have “skin in the game” and we’re in it for the long haul. Not only do we believe in the blockchain space, but also the technology behind VideoCoin. It’s why we’re one of the first pools on the network.
Even so, there are many reasons why you should stake in our pool:
Our operation is based in Los Angeles, CA.
Los Angeles is arguably the top streaming hub of America. With over 10 million residents, Los Angeles county is the single most populous county in the USA.
And according to a Nielson report, 74% of all adults in the city use a streaming service, such as Netflix or Hulu. In the long run, this strategic positioning gives us more opportunities with decentralized video storage and distribution work.
Investment into top-of-line hardware.
We don’t skimp on hardware. In fact, we’ve looked into and tested multiple CPUs and will continue to do so with the latest in technology. Our workers currently use the latest generation of Intel NUC 10s for top computing power, though we’re always looking into the latest in technology for potential upgrades.
We’re always testing for optimal performance and increasing capacity.
The VideoCoin Network is expected to have plenty of workers, both big and small. This means that workers need to be chosen from a pool to make sure that they are qualified and have the capacity to finish the work sent to them.
Our team will make adjustments to hardware and technical settings to achieve efficiency and reliability, thus increasing our chances of increased work on the network. Always adjusting to appease the worker selection algorithm means more potential opportunities and rewards for you!
Read more on why you should stake with the Blu Blu Network here.
5. What’s the minimum VID tokens I need to stake?
The minimum is 1 VID token to start earning rewards.
6. How do I stake my VID tokens?
Staking your VID tokens with us is painless and easy to do. Token holders need to start by visiting VideoCoin staking and signing up for a Meta Mask wallet browser extension. From there, select any official Blu Blu worker and add the amount of VID tokens you’d like to stake with us.
Click “stake tokens” and confirm your transaction. And just like that, you’re done! After the transaction has been confirmed, you will be officially staking in our pool and earning rewards.
For a more detailed and thorough explanation (with pictures) on how to stake your VID tokens in our pool, check out our staking tutorial here.
7. Which Blu Blu worker should I stake with?
Picking a specific worker operated by the Blu Blu Network may affect your rewards payout. Delegators earn rewards based on the % of tokens staked with a machine. In other words, you would get a higher % return by staking your VID with Blu Blu machines that have a lower delegated stake total.
That being said, all Blu Blu workers will be optimized with the same top-of-line specs. There is no need to flood a single worker with tokens.
Have a question that wasn’t answered here? Feel free to contact us at: info@blublu.network. We’ll get back to you within 24 hours.