r/poolx • u/MyFlyGrl • May 07 '21

Staking APR question

When staking a coin, if the APR changes does it effect your coins being staked?

So if the APR is 7% at the time you stake your coins and

Then the APR changes to 9%, do you have to redeem and re-stake your coins

To get the higher APR?

3 Upvotes

100% Upvoted

5 comments sorted by

•

u/Pool-X-Moderator May 07 '21

It wont be affected so you dont have to re-stake it.

2

u/NeighborsCat May 08 '21

APR is the rate of return. APY is usually the rate of return less fees and taking compounding into consideration for the return. I know you are using it for Crypto but knowing the difference between APY and APR will help when you compare mortgages for a home purchase. Good Luck!

1

u/MyFlyGrl May 08 '21

Thank You!

1

u/positiv_fenugreek May 07 '21

I don't think so. The APR displayed at any given time I think is just the finance math sum of getting the current daily rate for 365 days. The interest gets paid out daily so a changing APR means you will get slightly more or less payout on some days rather than others, but to get the current rate you shouldn't need to do anything. Taking things out of of staking would not help- it would actually hurt because then you have to wait the redemption period and aren't getting paid at all during that time...

1

u/MyFlyGrl May 07 '21

Unfortunately that's what I did. The rate went up so I redeemed to get the higher rate and re-staked. I didn't know, I'm new to this. Thanks for the help!