Allnodes increasing fees to 5%

Allnodes have announced that they will increase their staking fee from 0% to 5% after 1st March 2022


This is an exciting development. Together with the recent announcement by the team that they’re stopping 4 of the foundation nodes, it may give room for a reshuffle of some stake and opportunity for new node runners to join the top 100.

Let’s say that the average fee is 2% where AN is now going to 5%. Then unstaking and moving to a 2% node has a break even time of ~63 weeks. It’ll be good to see to what extent this fee increase causes stake to migrate.

It may just be the final push stakers needed to (finally) move (part of) their stake away from Allnodes.

Yes this is good news! Another good proposal i saw mentioned was that they could also consider not accepting more stakers for a while. That would send an even stronger signal to stake elsewhere.

They refused to do that, Peachy explicitly asked them but they said no.
It’s a start though! Many users are already complaining on their Twitter about the “high” fee, so they must’ve upset lots of customers…

People who have staked on a 0% fee node are going to complain about any non-zero fee. Same thing happened to when they increased their fees from 0% to 1.48%.

Allnodes will likely lose some stake after the fee increase (10M XRD was just staked to it by one account today :man_facepalming:) but personally I would be surprised if they drop out of the top 10.

Allnodes 5% fee has been actioned and will be effective from epoch 8645. This gives any stakers with allnodes an opportunity to unstake and move to an alternative before the fee increase takes affect.

Please take this opportunity to improve stake distribution and consider validators in the bottom 50. Choosing Validators