Sunsetting Our Polkadot Public Node

Polkadot

Jan 02, 2023

2 min read

Sunsetting Our Polkadot Public Node

A message to our Polkadot delegators and community, after giving it some thought over the last consecutive weeks, Stakin has decided to sunset its public Polkadot node operating under address `14Uu59k5VLBz3zLMaEe3LBcqRLfKw2VJu2D3krxTssREjDJc`.

Unfortunately, due to network constraints and market conditions, we do not feel like we are in a position to further maintain our Polkadot public node. At Stakin, we constantly strive to generate the best staking yield possible, and due to recent renominations, our Polkadot public node operating under address `14Uu59k5VLBz3zLMaEe3LBcqRLfKw2VJu2D3krxTssREjDJc` has not been in the active set for more than 20% of the time over the last weeks. This is not an optimal situation for our nominators as well.

While we have taken the decision to sunset this specific public node, our support for the Polkadot ecosystem remains. As such, we will be maintaining and deploying dedicated nodes for institutional customers looking to stake their DOTs through our reliable infrastructure.

This decision does not affect our support for other Substrate based blockchains. Additionally, for all Substrate networks, we will continue to run dedicated nodes for institutions.

We recommend redistributing your $DOT to another validator at your earliest convenience. You can find instructions on how to do this below.

You, as a delegator, can increase or decrease your stake using the Polkadot JS app. Go to Polkadot Mainnet, select “staking”. To unbond the amount, click the three dots next to the account you want to unbond tokens for and select "Unbond funds". Click "Unbond" after choosing the amount you wish to unbond, then approve the transaction. If successful, your balance will display as "unbonding" along with the number of additional blocks needed to unlock the entire amount.

You stop receiving staking rewards if you fail to remove your nomination when the Stakin node goes offline – unless you are already nominating with other validators.

🙋 Any questions? You are welcome to reach out via info@stakin.com, Telegram, or Discord.

We'd like to thank our delegators once more for their help, and we look forward to continuing our development and efforts within the Proof-of-Stake ecosystem.


DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the failure of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.

Subscribe to Stakin Monthly

The latest Proof-of-Stake news in your mailbox, once a month.