Hey Polkadot Community,
I’ve got some question regarding the existential balance of Accounts.
As far as I’ve read, a minimum balance of 1 Dot is required, otherwise the account balance will get reaped.
Does that mean the following: My balance falls beneath 1 Dot => The network cashes in the balance (e.g. 0.7 Dot).
How quickly does that happen and what does happen with the reaped Dots? Do they go back into the Polkadot treasury?
Let’s assume my balance gets reaped. Am I still able to use the address again next time?
What does happen if the Dot price rises to high levels? Would you be able to change the minimum balance to e.g 0.5 Dot?
What’s the effect on staking with a Controller and Stash account? Should they both have a minimum balance of (as recommended) 1.5 Dot to be safe?
I’m looking forward to your replies.