Problem [Mirror stake in governance was not generating return

hi my friend. it has been one day but my number of staked mir is still the same.

how long this governance pool will refresh the progress ? or are there any problem with this pool?

Thank you

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Hello, as far as I know, the rewards do not update on the weekends. You should be able to see the change tomorrow.

Thank you for your answer

Thanks for the information everyone explaining that the rewards are not updated on weekends. Can someone explain the best way to maximise APR when staking $MIR? Currently I have it staked through governance, and whilst the site claims 138% return, however my calculations indicate it is much closer to 70% and not the 138% (essentially half). What am i not understanding? Many thanks in advance.

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I would also like to know. Been logging in staking rewards daily through mir governance and the rewards are extremely inconsistent on my end.

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Rewards are very inconsistent skewed towards the low end for a few weeks for that matter. Something seems amiss and silence from the Mir Governance is disconcerting…

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Two weeks into it, and I see rewards close to about 30%-40%. This is still really good, but I, too, dislike the lack of consistency and transparency. I say really good, because compared to providing liquidity, there is no rebalancing of the assets, so you own the MIR tokens, and would benefit both from the interest, as well as the MIR value increase. But I will likely reduce my staked amount, and go for a mixed investment into staking and liquidity, possibly minting.

Is there anyone in the inside who can update and explain the governance staking better? Still new here don’t know the process. I read the white paper but it’s not as detailed on governance staking. How are other people here getting this information like I read some users saying on the weekends the staking doesn’t update. Staking rewards are given when lp sold.

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I agree and it is becoming increaslingly frustrating the stake APR is not what is being rewarded - why not? It is at best half of what it claims. If you stake say 200 MIR @ 138% it should grow to 476 MIR at year’s end or 0.75MIR per day. This is not happening…

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Yes this thing happen to me as well , the number of increasing in MIR is really non sense.

Who should we talking with ? any one from mirror team shouldd response and give us some clear answer

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The fees paid to governance come from the burning of massets to close CDPs. Those happen irregularly. During the recent crypto crash there were a large amount of massets burnt. The large APR you’re seeing on the dashboard is including that one-off burn in its calculation to annualize the return. The actual APR going forward will probably be in the 20-30% range, as it had been before the crypto crash.

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Ok. That’s have sense but how this can happen and display an APR that doesn’t is real. It is very bad for marketing. 3 days ago i received the rewards for that day, 3 days after the token are the same, and it is not for weekend. Something is happen, or the APR is not real. I am recording my rewards every day. If i don’t do this I don’t notice this inaccurate calculation.

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This Only can translate in bad news, inaccurate APR, how believe in MIR Protocol. This has to be fixed.

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I think there is a good explanation by maruboro below. From what I can see, the average I have is about 1/3 of the APR quoted. Not sure whether it accidentally equals (APR) * (staking ratio of MIR to total MIR in circulation), which recently was (134%)*(33.1%), which approximately gives 44%. Because it is irregular, it is very hard to calculate. But that’s the trade-off of owning the MIR assets versus providing liquidity where your assets are rebalanced, so if MIR goes back up to $10, and you are providing liquidity to MIR-UST, your MIR assets will get diluted to maintain the 1:1 ratio with UST :wink: Whereas your staked MIR will truly double from $5 to $10, earning you some 30%-40% in the process. And rewards are calculated and paid out in MIR, very importnat.

it’s impossible to know what the future return on MIR staking will be because it’s based on vault closures. The mirror front-end tries to estimate the APR by looking backward at what the return has been over the last couple weeks. That works fine, unless something out of the ordinary occurs, like a market crash.

If you click the “i” button next to the APR it clearly states this: “Annualized MIR staking return based on 15 days average of MIR distribution and staking ratio”

I appreciate your explanation it cleared a lot up for me. I only read the white paper on gov staking + “i” button but couldn’t tie all that together myself. Were you able to gather your understanding of how the gov staking works based on that info? It might be too vague for newbs like me to understand since aside from this thread theres few others with people concerned about the same thing. Hope someone from the inside can see this and give a better breakdown on how it works. I think its horrible for marketing and I want this project to do well.

This make sense, and I have arrived at the same understanding. I have no problem with the uncertainty for future returns, given the volatility of the market. It would be helpful to have the rewards and a running total visible. I am having to note down the approximate time and amount of each reward and calculate the return, and confirm the percentage 2 weeks later, to ensure that the APR indicator is indeed reflecting what we think it is. That should not have to be done manually. I have started a new manual tally, and will report my findings June 15th.

A cumulative return from gov staking chart similar to what curve.fi has would be nice and make it clear to people that there was a spike in the data. Perhaps, just a bar chart for the past 15 days showing the daily return or the raw amount of mirror sent to stakers.

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Please report when you got the finding on June 15th, I will update mine too !!

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For the first week of the 15-day period so far, rewards have come in on irregular time intervals, but on average, exactly as stated, the 130%+ number is accurate. I will psot the exact daily % after the 15-day interval is completed.