GTel Networks, Inc.

GTel Helium VaaS – August 2022 in Review

GTel Helium Validator as a Service (VaaS)

August 2022 in Review

One of our validators hit a new 30 day all time high earnings of 139.162HNT! This is a whopping 298% higher than expected APY! We haven’t confirmed yet, but this could possibly be the highest monthly earner, since the last halvening.

Our fleet-wide average HNT earnings for August were 79.2666HNT, with the above being the highest for the month (screenshot is Aug 2 through 31st). This gives our fleet an average 9.51% APY for the month, 169% higher than expected APY. Also made possible by achieving 100% up-time, for the 10th month in a row.

Month-end average p/t ratio increased from 0.089 on July 31st, to 0.174 on August 31st, with many ending the month at 0 p/t. The increase was due to several validators accruing between 0.6 and 1.04 performance penalties, due to block timeouts, within the 24 hours following the recent chain halt. This issue was corrected within hours of it occurring, and with the help of several community members, we believe we are on the path to eliminating these penalties to our fleet, altogether. This compares to the network-wide p/t, which increased from 2.84 on July 31st, to 3.90 on Aug 31st.

Even with those early month penalties, our lowest earning validator was 57.263HNT, 122% higher than expected.

As you’re all most likely aware, the first draft of HIP70 was published this week, marking the (potential) end of validating on the Helium blockchain (I’m either still in denial, or naively optimistic that it might not happen). In any event, it’s always great to pour our hearts into our work and provide our Stakers with some of the highest performing validators on the Helium blockchain! 

If you know anyone who wants to go out with a bang, invite them to our discord server and we can get them staked for the Validators Last Stand! Also keep an eye out for future announcements on other blockchains we’re validating for, and as always, we welcome suggestions and brainstorming from everyone in the community!

You can read more about the migration to Solana here on Helium’s blog as well as the full Helium Improvement Proposal, HIP70.

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