I have read some info about start unlock in Network nervous system application quick start :: Internet Computer
but still be some confused.
on 2021.01.01, I staked 100 ICP into an Neuron with 3 years Dissolve Day.
but on 2022.01.01, I found the price of ICP is so hight that I wanna sell the staked ICP in Neuron, then I clicked Start Unlock.
then, when I can transfer the staked ICP to other address for selling? 2022.01.01 or some other day?
This Get Started Using the ICP Wallet and Network Nervous System Dapp on the Internet Computer | by DFINITY | The Internet Computer Review | May, 2021 | Medium link has details on
My understanding you need to wait for that 3 years in your example before you can disburse the ICP and transfer them to other address (e.g., Coinbase exchange). Also the details below show that your neuron cannot vote (assuming no reward) after dissolve delay drops below 6 months.
The dissolve delay is like a kitchen timer that can only be turned in one direction. It can be arbitrarily increased, but only reduced by turning on dissolve mode and counting down. The neuron can be instructed to start “dissolving.” When the neuron is dissolving, its dissolve delay falls over the passage of time until either it is stopped or it reaches zero. A neuron cannot vote (or earn rewards for voting) when its dissolve delay falls below six months. Once the dissolve delay reaches zero, it stops falling and the controlling principal can instruct the neuron to disburse.
you mean that when I click the Start Unlock on 2022.01.01, then I have to wait 3 years, ie. 2025.01.01 (2022.01.01 + 3 years), to get free to transfer the staked ICP?
or whenever I click the Start Unlock, I have to wait, until to 2024.01.01(2021.01.01 + 3 years) I will get free to transfer the staked ICP?
Yes, neuron is locked by default and the
dissolve delay does not even start counting down until you manually unlock it. So if you unlock neuron on 2022 with 3 year dissolve delay, then it counts down to 0 in 2025 and you will then be able to disburse the ICP.
There doesn’t seem to have much detailed info except that medium post. So I put one ICP myself and actually created a neuron. Here is my observation and hope it helps.
Created neuron and it requires at least 1 ICP with minimum 6 month dissolve time. Dissolve Delay is locked by default after creation. If you forget or do not even realize such default lock, I believe your ICP is locked forever and you will still have to unlock and wait the entire dissolve delay (e.g., 6 months or 3 years) from the point you want to withdraw your ICP
I immediately unlocked the newly created neuron. It is locked for 6 months and top left icon shows the count down clock starts. When that counts down to 0, I assume we can see some “disburse” button and withdraw the neuron’s ICP. Since it takes at least 6 months.
Since the neuron’s current locking time is still longer than 6 month, my neuron current has voting power and I’ve followed dfinity / IC association neurons (neuron number 27 and 28) to vote in same way as they do. You can see from the voting the history. My understanding such participation in voting is required to grant the ICP reward to your neuron.
After maybe 1-2 more days, my neuron’s locking time will drop below 6 months and should lose its voting power as per the medium link I shared in previous reply. So the neuron will not be able to vote anymore and will not be able to get reward. I’m not very sure about the reward and maturity and you may search the forum for more info on those points.
thanks for your detail explain about my question, I totally got it!
So to be clear I just put in for 7 years and I want my icp withdrawn in 7 years. If I leave as is 7 years will go by and I’ll go to collect and realize I have to start unlock and wait another 7 years. But if I want in 7 years I should start unlock now. My question with that is am I still getting the 25% apy or whatever even when I start unlock. Also I’m not entirely sure where that apy goes. Does it get sent to wallet or added to my staking to compound?
Also this is how my following was by default and I believe set for auto voting but I have not voted and its been over a day. Perhaps no votes yesterday or is it not set up correctly? I notice my voting power has increased in the last day as well. Is that because I didnt start the dissolve delay?