With 5% APR any KMD holder can easily accumulate more coins: just keep them in your wallet and move them around once a year. It's an automated thing and doesn't require any technical skills.
The 5% APR is not in Zcash, as it is a Komodo feature. The 5% APR will remain until we reach the max supply of 200M KMD. Only a fraction of the new supply goes to the miners (notary nodes mostly).
Quote
Today James did some update to Komodo code to make 5% APR work in Komodo test network. It's still in pretty much in testing, and James is working on to polish it, iron it further to make sure everything works perfect. This update today allowed to query and show 5% APR interest rates through Komodo RPC API calls, and I implemented it as quickly as James announced this update. So, the latest updates on Komodo/Zcash GUIs are:
- Komodo GUI shows Interest info on it's Dashboard now.
- Because Zcash GUI and Komodo GUI uses common HTML/Js code to display everything similar I added further conditions to GUI backend code to display adjust and display the screens accordingly if a user views Komodo GUI, and Zcash GUI. Interest Rates info will only show under Komodo GUI, and not in Zcash GUI, as it's Komodo feature.
- An error check is added to Komodo/Zcash GUI, in case user doesn't have Komodo or Zcash wallet/daemon running on their machines which connects to iguana, and EasyDEX-GUI, the error shows approriate hints and instrucions to help users to solve that issue.
- Also fixed a few GUI bugs,
- One was not switching between Komodo and Zcash when clicked on different wallet GUI. Like if first clicked on Komodo, and then clicked on Zcash in sidebar, Zcash screen was still using Komodo API calls. Now, it's fixed with this update, and uses appropirate API calls as GUI screens changes.
- Another minor update fixed hiding and showing appropirate sections when Komodo/Zcash GUIs are switched screens. It was showing previously opened GUI's screen, with old data. With this update, it hides/shows appropriate screens and refreshes the data.
Zcash GUI showing error handling for unable to connect to Zcash External Wallet or daemon.
Komodo Screen showing Interest Rates APR info.
Zcash GUI showing same view as before, without interest rates info
- Komodo GUI shows Interest info on it's Dashboard now.
- Because Zcash GUI and Komodo GUI uses common HTML/Js code to display everything similar I added further conditions to GUI backend code to display adjust and display the screens accordingly if a user views Komodo GUI, and Zcash GUI. Interest Rates info will only show under Komodo GUI, and not in Zcash GUI, as it's Komodo feature.
- An error check is added to Komodo/Zcash GUI, in case user doesn't have Komodo or Zcash wallet/daemon running on their machines which connects to iguana, and EasyDEX-GUI, the error shows approriate hints and instrucions to help users to solve that issue.
- Also fixed a few GUI bugs,
- One was not switching between Komodo and Zcash when clicked on different wallet GUI. Like if first clicked on Komodo, and then clicked on Zcash in sidebar, Zcash screen was still using Komodo API calls. Now, it's fixed with this update, and uses appropirate API calls as GUI screens changes.
- Another minor update fixed hiding and showing appropirate sections when Komodo/Zcash GUIs are switched screens. It was showing previously opened GUI's screen, with old data. With this update, it hides/shows appropriate screens and refreshes the data.
Zcash GUI showing error handling for unable to connect to Zcash External Wallet or daemon.
Komodo Screen showing Interest Rates APR info.
Zcash GUI showing same view as before, without interest rates info
EDIT: Further details about 5% APR
Usually staking requires one or even two transactions per staking, mostly to just get a fraction of a coin, and this has to be done every block. However with KMD the interest is accrued automatically and you can collect it as early as one hour.
How to earn the interest?
Do nothing, you are earning it all the time.
How to collect the interest?
Just send funds and it will automatically add the interest.
How to check your interest?
You can see the accumulated interest rate from the GUI. However more technically speaking you can use 'listunspent', 'gettxout' and 'getrawtransaction' to show the interest accrued on a per utxo basis, 'getinfo' and 'z_gettotalbalance' shows the combined interest among all your utxo
We made the 5% APR as easy to use as possible. There are no settings to turn on, no modes to active, no passwords to unlock.
Since it is not directly visible in the blockchain, the only indication it exists is via the various calls, as it accumulates at the satoshi level. You can track how the interest grows by just doing a 'getinfo' call hourly.
One technical note: in order for utxo to gain interest it needs to be at least 10 KMD, and it also needs to have nLockTime field set. By default in other coins this field is zero, but with KMD it is changed so that by doing a 'sendtoaddress' sets the nLockTime. What that means is that if somebody sends some KMD to you using komodod, it will start earning interest. To verify just make sure nLockTime is not zero.
Only people that are mining are likely to have utxo that doesn't earn interest. They would need to send it (anywhere) for it to start earning interest. So if utxo is eligible it will automatically start earning interest and to get it, just spend it.
