When phase 4 is released, it will bring new functionality to everybody who is operating as a witness. In this post we would like explain what this new functionality is. (Thanks to Malcolm for the summary and Aat for the stAatistics)
COMPOUNDING OF EARNINGS
Option to automatically add the rewards you receive for being a witness to the existing locked balance of your witness account, this added amount increases your witness account weighting as if it were there from the accounts creation.
OPTIMISE YOUR ACCOUNT
The UI will provide a convenient single and simple to use interface (a single button you can press) to perform split/merge for you as appropriate without having to worry about the details yourself.
EXTEND YOUR ACCOUNT
Add more time and/or amount to an already locked account (restrictions apply)
You can change your witnessing key, for example in case you given it to a service like g-dash and don’t want that anymore, or have reason to believe your witnessing device was hacked, etc.
Due to the decision to change the blockreward, witnesses will receive 30nlg reward in phase 4, in stead of the 20nlg one would receive in phase 3. Community member Aat created a nice overview of what expected rewards will be when phase 4 starts (based on the current witness accounts statistics, which are subject to change)