Thanks for the answer, but that´s not what i asked. The 5%-thing isn´t the problem:
("I have 100 KMD in january. one year later i send the coins to a new adress and receive 105 KMD, right? After next year i send to a new adress again, receive +5% and so on.").
Unlike the rest:
But what if i send the coins in june? Or i send 50 in June, 20 in july and 30 in november?
Related to my question above, what does this means exactly:
(" 'compound interest.' If you want to accumulate even more KMD you need to get your interest to earn more interest. You won't receive the new coins until you have sent the coins, so the more often they are sent, the more KMD you receive.")
Lets do some math.("I have 100 KMD in january. one year later i send the coins to a new adress and receive 105 KMD, right? After next year i send to a new adress again, receive +5% and so on.").
Unlike the rest:
But what if i send the coins in june? Or i send 50 in June, 20 in july and 30 in november?
Related to my question above, what does this means exactly:
(" 'compound interest.' If you want to accumulate even more KMD you need to get your interest to earn more interest. You won't receive the new coins until you have sent the coins, so the more often they are sent, the more KMD you receive.")
5% APR is what accrues, for all utxo older than an hour and more than 10KMD
After 1 month, 5%/12 has accrued. It is earned. It is "there", even though it doesnt exist anywhere. There is no record of this interest directly on the blockchain. However all nodes have a consensus to the satoshi of how much interest you have earned.The wallets take this into account when creating a transaction. So you can spend it.
After 2 months 5%/6 has accrued.
etc.
As soon as the interest has accrued, you can spend it. I am not sure what about this is unclear. It could be that all other systems are some sort of complicated thing that is entangled with block creation.
In KMD, you earn 5% per year, just by owning the KMD. Nothing at all has to be done.
This means even cold storage KMD is earning interest.
There is a cap of 5% total accrued interest per utxo, which means after a year you are not earning any more interest.
The compounding happens as a natural effect of being able to spend the accrued interest at any time
Is this mean our old address where we stored KMD will not earning 5% interest anymore after a year?
So we need to send/stored in a new address in order to earn our next 5% interest? and we need to do this once a year right?
By the way, when we send KMD to the new address to earn our 5% interest, does our 5% interest send to our old KMD address or to our new address? still confused about this
the rule is very simple.
EVERY utxo that has a locktime will earn interest if it is bigger than 10KMD at the rate of 5% APR to a max of 5%. eligible after it is one hour old.
It is based on utxo, not on address balance. that means each txid's output is independently accruing interest at the same time, without any additional work to do.
I hope that somebody in the community will be able to understand the rules and be able to answer questions related to this.
Also both komodod and iguana make sure that locktime is set, only mined blocks dont have locktime automatically set
Yes we need someone in the Devs to explain it in more details step by step on how to earn 5% interest in much less technical term in our superNet site...so even grandma can understand it too
)
