Instruction:Delegation
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This is a page with the instruction guide to the Decimal Console. |
Main article: Delegation
You can delegate your coins to validators and receive rewards based on the terms of participation in delegation.
How to choose a validator
Main article: Instruction:How to choose a validator
Before delegating your funds, you need to choose a validator based on various criteria:
Validator commission.
It doesn't matter which validator you delegate your funds to - you will receive the same reward. However, each validator can set their commission from 0 to 100% of the rewards paid to their delegators. Once the validator's node is launched, they cannot change their commission, so it is more beneficial to choose a validator with the lowest commission.
Validator's reliability.
A validator invests real money in servers and other conditions for uninterrupted internet connectivity because otherwise, they will lose their profit and the profit of their delegators due to penalties. It is important to take this matter seriously and study the history of penalties received by the validator (if any), as well as review information about the technical and software equipment of the node.
Bonuses, promotions, and cashbacks.
To attract delegators to their node, each validator can offer various bonuses, such as cashback in the form of daily returns of a portion of the commission to the delegator's account.
How many coins to delegate?
Each validator has 1000 slots for delegation. Each individual slot is intended to hold funds from 1 delegator in a separate coin. For example, if a delegator sends 2 amounts: 1000 DEL and 1000 SOMEcoin, they will occupy 2 slots. If a delegator sends 1000 DEL first and then another 2000 DEL, these coins will be summed up in 1 slot.
All slots are sorted by size in terms of DEL. Once all 1000 slots of a validator are filled, there is a restriction on the amount of delegated funds. Any new 1001st delegator cannot delegate an amount less than the amount in slot #1000. When a new delegator sends an amount greater than the amount in slot #1000, their funds take their place, "knocking out" the smaller stake. The funds from slot #1000 are undelegated and instantly returned (unlocked) to the delegator's account.
Delegation process
Main article: Instruction:How to delegate your coins
The Delegation section (1) can be found in the Decimal Console at https://console.decimalchain.com/delegation under the Delegate tab (2):
To delegate coins, fill in the corresponding fields (Advanced mode (6) is used):
- 1. Copy the Validator Address. It always starts with [d0valoper...]
- 2. Select the Coin to send.
- 3. Enter the amount of coins to delegate.
- 4. Enter a message if necessary. Note that this comment will be stored on the blockchain and will be public. Maximum number of characters: 200.
- 5. Select the Coin to pay the fee.
- 6. Advanced mode toggle.
- 7. Delegate button. Used to create a Delegation transaction.
Click Delegate (7):
Check the details:
- Validator address.
- Review the fees.
- Click Confirm.
Upon successful transaction, you will see a corresponding notification:
You have access to the Transaction Hash (1), which displays all the information recorded on the Decimal blockchain.
Click OK (2).
In the Transactions block of the Dashboard, you can observe the transaction:
What if the validator goes offline?
If the validator's node is disconnected for an extended period of time or permanently for any reason, rewards will not be accrued. However, all delegated funds will remain staked until the delegator creates an undelegate transaction. After that, the funds will be reflected in the balance after 432,000 blocks (~30 days).