The Flow team has tentative plans to introduce delegator staking minimums on mainnet on July 5th. This upgrade will unstake delegators who are below the minimum. More information is below.
Expected dates to get the changes in effect is as follows:
- CanaryNet: Monday, June 26th, 2023
- Testnet: Wednesday, June 28th, 2023
And assuming that the upgrades on the canary and testnet go well,
- Mainnet: Wednesday, July 5th, 2023
This will hopefully give users plenty of time to update their transactions.
The changes to the smart contract code that will be used for the upgrade can be found in this pull request
The specific sequence of transactions that will be executed for this upgrade are documented in the service account repo.
Note - We are open to changing the timeline if the community provides feedback on the suggested change.
Why This Change is Happening
- Delegators with very little stake take up a lot of computational resources of the network with very little benefit. A minimum stake requirement prevents this. More details in the FLIP
- Admin objects for protocol operation were all intended to live in the service account, which is the account with the most safeguards. The refactor makes this possible. More details are in the PR.
- Delegators who are below the staking minimum, which is currently planned to be 50 FLOW, will be unstaked and refunded their staked FLOW. If a delegator wants to remain staked and continue to receive rewards, they will need to stake FLOW above the minimum.
If you have any questions regarding these changes, please ask in the PR comments, on Discord in the
#developers channel, or reply here.