How to set up auto-delegation

From Minter Wiki


Auto-delegation in the Minter network means automatically creating delegation transactions when a certain amount of funds is accumulated in the wallet.

Using the Minter Console

Carefully study the procedure for setting up the auto-delegation!

Auto-delegation1.png

To set up the auto-delegation built into the official Minter Console you have to:

  1. Head to the “Delegation” section.
  2. Fill in those fields in the “GENERATE DELEGATION TRANSACTIONS” form:
    • Stake” - the amount that will be automatically delegated when it is accumulated in your wallet;
    • “Tx count” - the number of automatic delegations, i.e. how many times the amount set in the “Stake” field will be automatically delegated from the wallet;
    • “Gas price” - the transaction fee, the default is 1.
  3. Click on the “Start auto-delegation” button.

Novice delegators are recommended to follow the actions described above while being disconnected from the network, offline. Doing so will cause an additional field “Nonce” (unique number of the transaction) to appear on the “GENERATE DELEGATION TRANSACTIONS” form.

  1. In the “Nonce” line the delegator indicates the number of current transactions of the wallet increased by 1 (XXX+1). That number can be found on the website https://explorer.minter.network/address/… where instead of the “...” user puts his wallet address (starting with Mx);
  2. Click on the “Generate” button in the "Sighed tx list" window, you will see a list of transactions;
  3. Copy that list (by clicking on the copy button on the right) or save it locally in the form of a .txt file (click on the “Select or drop file”);
  4. Paste the copied list or upload/drag the locally saved .txt file in the “Start auto-delegation” form;
  5. Go online and click on the “Start auto-delegation” button.

In the early days, it is better to adjust the amount automatically delegated at least 1 time per day.

Attention! If a user decides to manually send or delegate coins after the auto-delegation was started, it will stop the auto-delegation and the user will have to set it up again.

Some Validators, for example, Monster Node, Minter One and StakeHolder, offer their own automatic delegation services.

Setting up auto-delegation through the StakeHolder Validator

  1. Head to the Minter StakeHolder website;
  2. At the bottom of the main page, click on the “Reinvest service” menu item;
  3. In the opened window, sign in with your seed-phrase;
  4. On the opened page, there are two windows for setting up auto-delegation:
Автоделегирование на Minter Stakeholder.png
  • enter a Public Key of the validator of your choice in the Validator PubKey field in the window on the left;
  • use the slider below to choose the amount of the auto-delegation transaction (a certain percentage of your wallet balance);
  • activate the auto-delegation below; to the right, there’s a “basket” icon for deleting the current settings and a “+” symbol for making the next attempt;
  • using the delegation timer with the “start/stop” button in the window on the right, start the auto-delegation;
  • with the “+” symbol, you can add another auto-delegation settings version

You get the following result of the described actions - a transaction will be sent from your wallet to the address of the validator after a certain period, in the amount (a certain percentage of the current balance of your wallet) specified by you.

Important! If you’ve set up auto-delegation on the Minter StakeHolder validator website to another validator, a fee of 0.5% from a successful transaction will be charged to your wallet for using the service. Auto-delegation to the Minter StakeHolder validator on the website is free.

Setting up auto-delegation through the Minter One Validator

Note: No English, only Russian

Автоделегирование на Minter one.png
  1. Open Minter One auto-delegation service
  2. Click on the “Add Wallet” button in the opened window;
  3. Enter your seed-phrase or your Public Key;
  4. Create a wallet here, if you don’t have one;
  5. Set the minimum transaction amount in% of your balance, but not less than a certain number of coins (the minimum stake)
  6. Click on the “Start” button

Important! For a non-stop operation of the auto-delegation, the page should be open, but not necessarily active.

How to stop auto-delegation

Any “manually” sent transaction will stop auto-delegation in the official Minter Console. The easiest way would be to send an empty transaction in the amount of 0 BIP to your own wallet.

There are start/stop buttons on other validator websites providing auto-delegation services.

Links