How staking works on blockchains that support Algo?

General
1

I have a concern, I had 114.99 Algo on my trust wallet. It was mentioned as follows:
Available: 114.99. Staked: 114.99.
After the price drop in the red zone, I noticed the drop of my Algo stock, my balance became 114,900. While the other crypto remain unchanged if the price is in red zone and it does not affect the amount stored. Explain me a little the reasons.

Thank you for your time.

2

I specify that I had not invested my Algorand on a platform. I only stored it on Trust wallet.
Thank you

3

The Algo balance of a non-custodial account only changes after:

  • receiving or sending a transaction
  • receiving participation rewards

In your case, a decrease of your Algo balance can only be explained by you sending a transaction. You can see all the transactions from your address on any block explorer such as https://algoexplorer.io/ or https://goalseeker.purestake.io/algorand/mainnet

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4

I haven’t received or sent anything. I didn’t get anything as a reward too. Only yesterday I stored my Algo and it was 114.99 and today it becomes 114.900 without any operation.

5

Can you confirm the balance on a block explorer, i.e., search for your address on https://algoexplorer.io/ or https://goalseeker.purestake.io/algorand/mainnet?

If the balance is incorrect there or if you don’t recognize some transactions, your secret key might have been compromised. You may also want to contact Trust wallet.

In any case, balances on Algorand do not decrease if there is no transaction from the account.

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6

@fabrice I’ve checked the balance again now, it’s up from 114,900 to 114,905.

7

It is normal that the balance increases, as you automatically receive “participation rewards”. See https://algorand.foundation/faq#participation-rewards-

A decrease in the balance can only happen if you make a transaction. Please check the balance on a block explorer to confirm everything is normal, not on the trust wallet.

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8

@fabrice During the purchase the supplier directed me to algoexplorer.io for confirmation before I received the transaction.

9

That’s independent, please look at algoexplorer.io with your Trust wallet address now by yourself.
I.e., get your Trust wallet address following https://community.trustwallet.com/t/how-to-find-my-receiving-address/2006 (but for Algos). Then enter this address in the search bar of algoexplorer.io.

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10

@fabrice However show me how to confirm the transaction on algoexplorer.io to redo what you ask me.

11

@fabrice As you told me to put my Algo address from trust wallet in the search bar on algoexplorer.io I will do it to see the result first.

Thanks

12

@fabrice I put the address and this is what came out:

Algorand account overview
Balance: 115,006644
Reward: 0.016644

13

Note that rewards are included in the balance, so that’s exactly what you expect:

114.990 Algos received + 0.016644 rewards = 115.006644 Algos total

I guess that Trust wallet reports incorrectly the amounts.
Please contact them and point to this thread.
Tell them they can DM me on forum.algorand.org if they have any questions.

1 Like
14

OK I know now thank you