Did none of the indexers know what they were getting into? Now I’ve seen it said that indexer rewards being locked for a year was a “mistake” and a simple oversight. That seems a bit suspect to me from an outside perspective, and it’s troubling to find out this mistake was made only after my delegation was committed. But, as an attempt at good faith I’m willing to accept the explanation. Is going from a 365 day lockup to a 28 day lockup (a 93% reduction) not a pretty fair compromise already?
You’re confusing terms.
Most indexers are either early investors or testnet participants.
Their original stakes are locked for 1/2 years, if I recall correctly, depending on whether it’s part of the testnet rewards or an early investor’s tokens, this isn’t going to change, tokens distributed in any of those cases will still be locked for the full amount of time that they were supposed to.
What was discussed was how to extract the inflation/indexing rewards, since currently indexers cannot withdraw the rewards from inflation (indexing rewards) without unstaking all of their GRT (and thus, stopping operations on their indexer for 28 days, which doesn’t only impact the indexer, who will miss 28 days of rewards, but also all its delegators, since unstaking is the indexer equivalent to undelegating, and is subject to the 28 day thawing period).
This means that indexers don’t have access to all the money they are generating right now, which was supposed to be used to pay for infrastructure, maintenance, and generally all costs related to indexing. That wasn’t intended, and this is happening because the token lock contract wallets check that the balance in the contract wallet needs to be higher than the initial balance to be able to withdraw, which leads to the situation described above, where you need to unstake fully to withdraw only the surplus, since the rest of the GRT is still under strict lock until the end of the vesting period (1-2 years).
That issue with the token lock contract wallets also affects wallets from the Curator’s Program (albeit curators get quarterly unlocked tokens during a 4 year period, which is a little bit different than the vesting parameters for indexers and early investors), and most people with those rewards are delegators, hence why I said that the change for indexers should also be made to impact curator’s contracts, and both should be subject to the 28 day period.
I’m not up to date with how the current implementation for indexers being tested works, but from what I understood, there were some technical issues that meant that in order to avoid the situation described above, the change would need to bypass the thawing period. It also meant that all rewards generated up to this point won’t be accessible with the fix, so it would only works for newly generated tokens. If anyone has the full details on the implementation, feel free to correct me!