How to delegate coins

From Minter Wiki


Main article: 'Delegation'

Delegation is a transaction in the Minter network when funds are blocked on the user's account, while stake of the selected Validator is increasing. This process can be called bonding and opposite action — unbonding. Any network user can delegate his coins BIP, as well as any other custom coins issued on the Minter network.

Delegation in the Console

Let's review process of coins delegation in the Console. Click the "Delegation" tab to delegate coins.

Delegation.png

After node selection (see the article 'How to choose a validator') copy the public key of the validator and paste into the appropriate field. Next, select the coin you want to delegate and indicate the stake size.

In the Advanced mode you can write a message to this transaction and select a coin to pay the commission.

After clicking the "Delegate" button, your coins will be delegated. Coin crediting information is updated in some minutes, after that you will be able to see the credited reward on your account.

This operation can be seen in the list of transactions.

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Delegation in Mobile Wallet

The Delegation operation equally presented in Android wallet and IOS wallet.

Android Wallet Send Tab.png

On the "Send" tab you have to specify the Validator's Public key, Custom coin for delegation and the amount of the coins. Click "Send" button and confirm the operation.

Auto-delegation setting

For details, see 'How to set up auto-delegation'

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Redelegation is operation of delegating received rewards. Redelegation can be done manually, or you can set up auto-delegation.

The auto-delegation process can be started online by the generation transaction for delegation, or locally (offline) by sending a personally created file with a list of generated transactions.

Disable Autodelegation

If you want to disable autodelegation, you have to send any transaction from your address, for example, send 0 BIP to your wallet. Alternatively, you can manually send 1 BIP to the validator's address.

Revoke the coins from validator masternode (unbond)

For details, see the article 'Unbond'

To protect against long-range attacks, developers introduced a block of funds delegated to the node within 30 days after their "revoke".

You can only unbond your funds in Console on the Delegation tab. To do this, fill out the Public key of the node in the "Unbond" form, select a coin and the amount of coins.

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Coin delegation fee

The delegation fee is fixed in 0.20 BIP. It doesn't depend on delegated coins amount or kind of coins you send for a Validator.

Also you can send up to 1024 bytes of useful data in the Message field of transaction. A commission of 0.002 BIP is provided for each byte.