Newbie Stake Loss Compensation Phase 2 Data
The previous Newbie Stake Loss Compensation Phase 1 Data post can be found here.
Phase two of the newbie compensation details are here. This is from block 1 million to 1.124 Million. With that being said there will be a third phase due to the volume of coins again. 265 CPIDs are in this batch. During this block range the newbie boost which helped new users stake faster was removed making it take longer to stake newbie blocks.
It has come to my attention that users were wondering why they were not included in the last batch while being in the last block compensation range. The reason for this is if you have staked a block before and go 6 months without staking and then start to stake again you do not get a newbie block. This block is a low GRC block but is not considered a newbie block. Perhaps in the future after all this is said and done that part of the code can be addressed but I assure you that it is not a bug. A newbie block is the first block you have ever staked while being apart of Gridcoin.
Compensation will take place on or about January 26th at 9PM UTC
Below is the Q and A section from the previous Phase 1 post:
Q) Do I have to do anything?
A) No, if you find your CPID in the list and still maintain the GRC Address associated to the CPID then there is nothing for you to do.
Q) I have a different CPID now but still have my old GRC Address in my wallet.
A) Excellent, there is nothing for you to do. Based on the fact that you no longer have the CPID anymore but still maintain ownership of the GRC Address involved, you will be paid out to the (old) associated GRC Address.
Q) I have the same CPID but don’t have my old GRC Address anymore.
A) The fact you own the same CPID still keeps your foot in the door with the compensation if you still have an active beacon contract. Simply contact me and mention your CPID and I will pull the GRC Address from the network that is tied to the CPID in question.
Q) I have the CPID in question on an old account I don’t use anymore.
A) Unfortunately, not much that can be done here unless your CPID has an active beacon in the neural network.
Q) I don’t have the same CPID nor do I have my old GRC Address anymore.
A) Unfortunately, there is no way to prove ownership of the GRC Address or CPID and the compensation will be paid out to GRC Address that was used for the newbie stake. Essentially the coins are burned and non-recoverable.
Q) Will you post the data of the losses?
A) Yes. Much like the Pentathlon rain you will expect to see the results posted with TXIDs associated to the payouts.
Q) I see a duplicate CPID. How can someone have more than one newbie block?
A) This is possible; however very rare. I have taken a look at these and determined that even after my calculations the amount owed is still correct and this has no effect on what is owed.
Q) How will I know if an unknown transaction that I received is in fact the newbie compensation?
A) You can view the released newbie stake loss data. Look up your CPID/GRC Address and see the amount.
Q) My question is not answered here or I don’t understand the answer.
A) Feel free to contact me on Slack or via the email address below.
Q) What is the foundation/foundation expense?
A) The foundation is a wallet that holds around 32 million Gridcoins. It is used for various purposes such as developer payments and expenses. The foundation does not pay out before work is completed. A foundation expense must be put forth once a task is done or complete to receive the amount used for the expense back. Much like advertising campaigns for Gridcoin where the users pay out of there own wallet and put up an expense to be compensated by that said amount.
Q) When will the next phase of compensation take place?
A) Phase 3 will be prepped and posted after Phase 2 is complete and the foundation expense has been completed and the funds are returned to my wallet. Once phase 3 is posted there will be another 1 week period for users of that data to come forth with questions or concerns.
Feel free to contact me if you have any questions relating to the data.
Concerns or questions?
Don’t worry I’m available on slack and via email eastendmumbles at gmail.com
