How much PAL have I earned with one staked PALMM? How to claim PAL tokens!
I purchased and staked one unit of PALMM (Pal Mega Miner) on June 6, 2019, at 8:41 PM (Central Time) via Steem Engine.
If you are interested in learning about why I made this decision, check out my post I am diversifying my Steem investment.
Steem Engine User Interace
I logged into Steem Engine to see if PALMM had mined any PAL tokens. I was pleasantly surprised that I already had tokens to claim.
On June 7, 2019, at 9:30 AM (Central Time), I read the following message:
You have 2 PAL to claim click here
PAL is the tradeable token of PalNet and it can be staked as PAL Power.
When I click the "click here" link in Steem Engine, I am asked to confirm the transaction via Steem Keychain:
After clicking confirm, I receive a confirmation that the transaction is successful:
IMPORTANT: The "You have PAL to claim" message did not disappear from the Steem Engine UI until I completed several more steps. I am not sure if this is a normal part of the workflow or if additional time is required to sync the transaction between Steem and PALNet.
PALNet User Interface
Once the transaction was completed, I went to PalNet.io and checked my wallet. I received the following message:
I clicked Redeem Rewards - Transfer To Balance and was asked to confirm the latest transaction via Steem Keychain. After clicking confirm, I received a message that the transaction was broadcasted successfully.
IMPORTANT: It took a few minutes for my PAL tokens to show up in my balance. I am not sure if this is a normal part of the workflow or if additional time is required to sync the transaction between Steem and PALNet.
I want to build my PAL Power so I decided to stake the PAL I claimed:
After clicking stake, the following popup screen appeared. I confirmed how many PAL I wanted to stake.
Again I had to confirm the transaction and I received a successful transaction message.
Almost instantaneously, my new PAL POWER balance appeared as seen below.
Yeah. I have one mega miner and still no coins. Been about 14 hours. I’ll win eventually.
Roi will be hard. Pal trading at .03 so less than 1/10 the price of steem. since the claim drop. I would guess price recovers a little after all the dumping stops.
Don’t get me wrong. I’m excited about mining. I think it’s awesome and am planning on buying a bunch more miners. Mining has always been a long term game.
Posted using Partiko iOS
@dkid14 - Great point. Price recovery will be vital to ROI. Have you received any coins from the claimdrop? I don't see that I have that option yet.
Correction - Just found what I was looking for. I gained 851 pal from the claimdrop.
Yeah. I picked up about 1200
Posted using Partiko iOS
That is a nice haul. I guess we are already minnows with this much PAL as I have access to the vote slider. Checking to see what a 100% upvote with 853 PAL Power is worth!
Ouch! This feels like my early days on Steem.
Test comment from @sumatranate for @sumatranate
PALMM is so expensive! If each PAL is worth 1 steem, you'll have your investment paid off in a few months. I hope PAL keeps it's value. I expect it will. Congrats earning crypto while you're sleeping!
PALMM is expensive! But if PAL stays pegged to Steem then I should break even sooner than later.
I was able to claims 2 PAL in about 12 hours. Say that I can claim 2 PAL each day. Then I should be able to break even in 50 days.
I assume that as more people buy Pal Mega Miners, the payout rate will decrease. Time will tell.
There was also a lower mining option (PALM). It was 1/3 the price but 1/4 of the efficiency.
And after I made the purchase, I realized I could buy partial units. So it would be better to buy 1/3 of a PALMM than 1 whole PALM.
I bought a tiny fraction of a PALMM token. It's payed out 1 PAL since I bought it yesterday.
PAL is going for about $0.06 right now, but I expect as these get bought up the value will go up too until it hits the wall at 1 steem. I got my claim, not sure if I should buy @ $0.06, sell or stake or just HODL!
I am staking so that I can try to earn curation rewards on PalNet. I have been evaluating whether or not I want to add more PAL to the amount I received for my claimdrop. Seems like we are both in the same boat. Not sure which is the best move.
Cool thank you very much. I like instructions with pictures! I haven't received my Palcoins yet, but here is a vote anyway. :)
Thanks for the upvote. I just received by PAL from the claimdrop. With 851 more PAL, maybe my PALNet votes will be able to help out more.
Hi @sumatranate!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 4.240 which ranks you at #2664 across all Steem accounts.
Your rank has improved 10 places in the last three days (old rank 2674).
In our last Algorithmic Curation Round, consisting of 194 contributions, your post is ranked at #64.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server