2.2 Set Commission

  1. Go to Developer -> Extrinsics.
  2. Choose your Controller account -> phalaModule -> setPayoutPrefs(payout_comission, payout_target)
  3. Fill in commission (from 0 to 100) and choose the account where you want to receive the mining rewards at target.

The commission rate influences your final profits. For any mining reward you get, you always take the commission from it, and then distribute the rest propotionally to the mining stakers. For example, a comission of 100 means all the profits are tranferred to your specified account and a comission of 0 will share all the profits to your mining stakers. Of course you get all if it's all your own stake.

A lower commission rate will share more of your profits, which means more lenders are likely to support you, thus lowering your staking amount requirement.