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Instruction:How to delegate your coins: Difference between revisions
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Instruction:How to delegate your coins (view source)
Revision as of 10:16, 7 June 2022
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'''Delegation''' is the process of linking the delegator`s coin stake to the selected validator. | |||
Delegation is carried out due to a special transaction on the Decimal network in which funds are blocked on the user's account, while increasing the stake of the selected Validator. Any user of the network can delegate their DEL coins, as well as any custom coins and NFT issued on the Decimal network. | Delegation is carried out due to a special transaction on the Decimal network in which funds are blocked on the user's account, while increasing the stake of the selected Validator. Any user of the network can delegate their DEL coins, as well as any custom coins and NFT issued on the Decimal network. | ||
'''Delegation performs several important functions on the network''': | |||
1. | 1. '''The power of the voice''' | ||
By delegating funds, each user increases the validator's stake. The larger the total stake of the validator, the higher it rises in the rating of validators. In case of changes on the blockchain, the proposal put to the vote by the developers is accepted by the first nine validators in terms of voting power. | By delegating funds, each user increases the validator's stake. The larger the total stake of the validator, the higher it rises in the rating of validators. In case of changes on the blockchain, the proposal put to the vote by the developers is accepted by the first nine validators in terms of voting power. | ||
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Generation of new DEL coins occurs only on delegated coins. | Generation of new DEL coins occurs only on delegated coins. | ||
3. | 3. '''Security''' | ||
Technically, when delegating, the validator does not get access to the delegator's funds, since these funds actually remain in the delegator's account. Delegated coins are linked (bonded) to the validator's account balance, while the owner of the coins simply cannot dispose of the delegated funds until he unlinks (unbonds) them from the validator with the appropriate request. The validator does not have access to the delegated coins and cannot withdraw or spend them. | Technically, when delegating, the validator does not get access to the delegator's funds, since these funds actually remain in the delegator's account. Delegated coins are linked (bonded) to the validator's account balance, while the owner of the coins simply cannot dispose of the delegated funds until he unlinks (unbonds) them from the validator with the appropriate request. The validator does not have access to the delegated coins and cannot withdraw or spend them. | ||
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Before filling out the delegation form [[instructions:howtochooseavalidator|select a validator]] . To get acquainted with all the validators, use the | Before filling out the delegation form [[instructions:howtochooseavalidator|select a validator]] . To get acquainted with all the validators, use the '''Blockchain''' tab in the menu at the top of the browser page https://explorer.decimalchain.com/ru | ||
[[File:en-delegate1.png|1000px|class=mediacenter]] | [[File:en-delegate1.png|1000px|class=mediacenter]] | ||
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After filling out the form, check the data and confirm the transaction. [[File:en-delegate7.png|1000px|class=mediacenter]] | After filling out the form, check the data and confirm the transaction. [[File:en-delegate7.png|1000px|class=mediacenter]] | ||
In the next step, you will receive of the transaction, by which you can check its display in the '''Browser''' . Then go back to the page with the last step and click | In the next step, you will receive of the transaction, by which you can check its display in the '''Browser''' . Then go back to the page with the last step and click '''Ok''' [[File:en-delegate8.png|1000px|class=mediacenter]] | ||
</div> | </div> | ||
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'''Example:''' | |||
You have chosen a validator with a 5% fee. You delegated coins to him, and according to your stake and the current Decimal network parameter, your reward is 30 DEL. Automatically, the validator will deduct 5% from each of your rewards and you will receive 28.5 DEL (30 DEL - 5%). | You have chosen a validator with a 5% fee. You delegated coins to him, and according to your stake and the current Decimal network parameter, your reward is 30 DEL. Automatically, the validator will deduct 5% from each of your rewards and you will receive 28.5 DEL (30 DEL - 5%). | ||
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'''Withdrawal of coins from delegation | '''Withdrawal of coins from delegation''' (“unbound” - cancellation of the obligation) is the operation of returning the coins delegated to the validator. | ||
The recall can be at the request of the delegate or forced. Forced partitioning occurs if: | The recall can be at the request of the delegate or forced. Forced partitioning occurs if: | ||
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'''Missing block | '''Missing block''' | ||
If the validator, due to any reason, missed 12 blocks out of the last 24, a fine of 1% of the entire node stake is imposed on him. The node is excluded from the list of active ones, ceases to sign new blocks, and therefore stops to receive a basic reward for the block. After the owners of the fined node fix the problem, they must re-enable it. | If the validator, due to any reason, missed 12 blocks out of the last 24, a fine of 1% of the entire node stake is imposed on him. The node is excluded from the list of active ones, ceases to sign new blocks, and therefore stops to receive a basic reward for the block. After the owners of the fined node fix the problem, they must re-enable it. | ||
'''Double signature attempt | '''Double signature attempt''' | ||
If the validator accidentally or intentionally tried to double-sign the same block, a fine of 5% of the entire node stake is imposed on him. A forced unbond of all funds delegated to the masternode also happens in this case. | If the validator accidentally or intentionally tried to double-sign the same block, a fine of 5% of the entire node stake is imposed on him. A forced unbond of all funds delegated to the masternode also happens in this case. | ||
'''How does the penalty affect the delegate''' | |||
Fines of 1% and 5% are also distributed to the delegators of the fined node. The rights and responsibilities apply to both rewards and fines. Rewards and penalties are distributed proportionally to the share of the delegator's funds in the total stake of the validator. In case of forced separation, the funds of the delegators, minus 5%, are returned to their balance 30 days after sending the corresponding request for the withdrawal of coins. | Fines of 1% and 5% are also distributed to the delegators of the fined node. The rights and responsibilities apply to both rewards and fines. Rewards and penalties are distributed proportionally to the share of the delegator's funds in the total stake of the validator. In case of forced separation, the funds of the delegators, minus 5%, are returned to their balance 30 days after sending the corresponding request for the withdrawal of coins. | ||
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'''Based on the testing experience, the cost of the delegation transaction is ~ 0.6 DEL | '''Based on the testing experience, the cost of the delegation transaction is ~ 0.6 DEL''' | ||
In the Decimal blockchain, the transaction fee consists of the amount of a fixed rate per transaction type + the unit cost per transaction volume in bytes. | In the Decimal blockchain, the transaction fee consists of the amount of a fixed rate per transaction type + the unit cost per transaction volume in bytes. | ||