After months of intense development and testing we are proud to announce that Staking Delegation is live on mainnet.
We would like to thank the community for such valuable participation, feedback, and rigorous testing of the system throughout both of our testnet phases. We have had multiple parties completely auditing the system, including our advisors, alongside a thorough review from Certik.
We are starting with a short mainnet beta phase, followed by a fully decentralized system, where any individual or organization can create and manage staking pools without any limit or cap imposed.
In this beta phase we will start with 3 staking partners: Blockscope, Everstake, HashQuark, who will create and manage pools that are each limited to a maximum of 3.6M CTSI. 3,000,000 CTSI is being staked from Cartesi’s Mining Reserve Intermediate Wallet for testing purposes, ensuring block production and accurate testing. The mine reserve tokens will be immediately unstaked and returned to the mine reserve wallet after the beta period concludes and the cap is lifted. All tokens and earned tokens will go back to the mine reserve and the Cartesi Foundation will cover the fees, ensuring no effect on the supply. 600,000 CTSI is available to be accepted by each pool from the community. The pool managers will choose the commission that will be charged for their operation.
The steps below show how to delegate your CTSI. We are using screens from the ropsten test network. For mainnet you need to switch to mainnet at Metamask, but the process is the same.
- You need to have Metamask installed.
- You need CTSI in your Metamask wallet.
- You need some ETH in your Metamask wallet.
- Go to https://explorer.cartesi.io, click on “Connect to Wallet”, and navigate to the “Pools” option in the top menu. You should see the screen below (with a different list of pools).
5) Select one of the pools by using the “Stake” button on the right of each row to go to the pool page as shown below:
6) The first step to stake is to set an allowance for that particular pool. The allowance is the maximum amount of token the pool smart contract can transfer out of your wallet. You can set it to any value you want, your wallet amount, less or more. Click on the “Edit” in the allowance row and submit the ethereum transaction through Metamask. After the transaction is confirmed you should see something like the screenshot below.
7) The next step is to deposit your tokens to the pool. You can deposit any amount you want limited only by your wallet balance and the allowance value you just set. Those tokens will need to stay deposited for 6 hours before you can stake them (for security reasons). Click on the “deposit” button, enter the amount and confirm the transaction through Metamask. You should see the screen below, with a countdown of 6 hours.
8) After 6 hours you should be able to finally stake your tokens. Go back to the pool page and click on “Stake”, enter the amount and confirm the transaction.
From now on, for every block the pool produces you will get a share of the reward minus the commission taken by the pool. The rewards are automatically compounded.
Whenever you decide you can unstake your tokens and withdraw back to your wallet. This process and its rules are described below.
- In the pool page click on the “Unstake” minus button in the “Staked” row. Choose if you want to unstake the full stake amount or a specific amount, and confirm the transaction through Metamask.
2. The pool will create the required liquidity for you to withdraw the requested tokens back to your wallet. It might be necessary to unstake tokens from the Staking contract, which can take from 48 to 96 hours (as there might be an ongoing unlocking countdown to generate liquidity for previous unstaking requests). But if the pool has enough liquidity you are able to withdraw your tokens right away by clicking the “Withdraw” minus button in the “Pool” row. Specify the amount, and confirm the transaction through Metamask.
That concludes the basic usage of the staking delegation feature from the pool users perspective. We hope to deliver a great experience to all our community! In case you have any doubts, troubles or just want to give some feedback, you are welcome to join our Technical Community on Discord.