How to Nominate

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To nominate a Node in the xx network, you will be required to first bond the coins you wish to stake. While bonded, these coins will not be transferable but may be used for staking and governance. Staking and governance are considered separate actions and both may be done simultaneously with the same locked coins. For example, suppose you have 1,000 xx coins staked and nominating several nodes. In that case, you may use those same xx coins to vote on referenda, elect council members, and propose treasury spending without unstaking the nodes.

When a user wishes to unbond all or some of their coins to transfer them, there is a 28-day cooldown period until the coins may be used. The coins will not earn interest during this period and will not be counted towards your active stake. A user may rebond the coins at any time during this period and begin using them for staking again. This period ensures that the coins are available for slashing if a prior offense is caught within the 28-day unbonding period.

Overview of Steps to Nominate Nodes

  1. Create and fund a controller wallet
  2. Bond the coins you wish to stake
  3. Choose up to 16 nodes to nominate (with each bonded account)
  4. Wait for the next election for your nomination to be applied
  5. Claim rewards (rewards will automatically be staked so that they earn interest)

If you know what you are doing and already know the wallet address of the node or nodes you would like to nominate, then you can skip the separate stashing process in step 2 and click on the Nominator button in the Account actions tab. If you have already created a stash account, then you can click on the Nominate button and click or search for the nodes that you would like to nominate.

Before Starting

Before you can bond and nominate, log in to the xx wallet with your account. If you have not created a wallet or account, refer to Using the Wallet Generator to get started with a new wallet and Add an Account to the xx wallet to log in.

Bond the Coins to be Staked

Once you have your wallet with coins set up, you need to bond the coins into the network.

  1. In the navigation menu, go to Network and in the drop-down menu, click on Staking. Or navigate to https://wallet.xx.network/#/staking.

    Staking button in navigation.
  2. The Staking Overview page will open.

    1. Click on Account actions in the submenu.

    2. Then click the stash button Explorer Stash button.svg.

    Click on account actions and then stash.
  3. The bonding preferences window will open.

    1. Select the account to use. It should be the same account for stash and controller accounts.

    2. Enter the amount you wish to bond

    3. Once you have confirmed everything, click the Bond button.

    Bond coins when adding stash.
  4. On the next page, authorize your transaction by entering your password and clicking the Sign and Submit button Explorer Sign and Submit button.svg.

    Enter password and click "Sign and Submit" to authorize transaction to bond tokens.
Stashing xx coins.gif

Selecting Nodes to Nominate

Once your stash is bonded, you are ready to stake nodes. This section will cover nominating other people’s nodes.

Keep in mind that each account can nominate up to 16 different nodes. If you want to nominate more than 16 nodes, then you will need to create another account and split your coins between the accounts.

Reviewing Nodes

First, you will likely need to research the available nodes to select the right nodes to nominate.

  1. In the navigation menu, go to Network and in the drop-down menu, click on Staking. Or navigate to https://wallet.xx.network/#/staking.

    Staking button in navigation.
  2. The Staking Overview page will open. Click on Targets in the submenu.

    Click on "Targets" on the Network submenu.

From here, you can see all the available nodes you can nominate. A detailed walkthrough of choosing the best nodes to stake is outside the scope of the wiki, but there are some things to consider when selecting the nodes that you want to nominate.

  1. Determine the node’s commission.

    The commission percentage is the amount of the rewards pool that the node takes off the top as compensation for running the node. The rest of the rewards are then split amongst the stakers of the node. A node with a 100% commission rate will take all of its rewards in an era, leaving no rewards for anyone who has nominated it. Likewise, a node with 0% commission will not take any additional compensation for running the node and all of its earnings will be split amongst its stakers.

    Commission column.png

  2. Verify how many people are already nominating a node.

    The rewards that a node earns are split evenly based on stake (after the commission is taken out). The more stake that a node has, the more people you will share your rewards with. Check the total stake column for this info and take this into consideration. Furthermore, the rewards from a node will only be paid to the top 256 nominators. This means if you nominate on a node, but 256 people are nominating more than you, then you will not receive any rewards from that node until you stake enough to be in the top 256. Check the nominators column and take this into consideration when choosing nodes. A red icon labeled Oversubscribed Explorer - Oversubscribed Icon.svg will appear next to all nodes that have more than 256 nominators.

    Nominator Info.png

  3. Check the node’s prior performance.

    If a node goes offline or misbehaves, it (and everyone staked on it) will earn fewer coins and, in rare cases, may lose coins. Follow these instructions to check the performance of the node.

    1. Click on the cmix id for a node to open its page on the xx network dashboard in a new tab/window.

      Click on the "cmix id" link on a validator
    2. Look at the Uptime and Round Success Rate graphs and confirm that they are acceptable.

      Uptime and Round Success Rate Graphs in the xx network dashboard.
    3. Return to the explorer tab/window and click on the stats icon Explorer - Stats Icon.svg next to the node.

      Click on the stats icon link on the validator.
    4. On this page, you can see how consistent the node has been.

      Validator stats page.
    Node performance gif.gif

Selecting Nodes

  1. Click on Targets in the submenu to return to the list of nodes.

  2. Click on "Targets" on the Network submenu.
  3. To select a node, use the toggle box on the far right. You can toggle the ones you like (up to 16).

    Select nodes to nominate them.
  4. Once you have selected all the nodes you want to nominate, click on the Nominate selected button Explorer Nominate selected button.svg on the top right.

    Click "Nominate selected" to nominate selected validators
  5. The nominate validators window will open.

    1. Make sure that you select the correct account to nominate with.

    2. The validators you selected to nominate.

    3. Once you are ready to nominate, click the Nominate button Explorer Nominate button.svg.

    Explorer - Nominate validators windows.png
  6. On the next page, authorize your transaction by entering your password and clicking the Sign and Submit button Explorer Sign and Submit button.svg.

    Explorer - Authorize Transaction (Nominating).png
Nominate from targets gif.gif

Wait For Next Election for Your Nomination to be Applied

When you nominate a node, your nomination does not become active immediately. Instead, it will be applied in the next node election, which occurs at the end of every era.

  1. In the navigation menu, go to Network and in the drop-down menu, click on Staking. Or navigate to https://wallet.xx.network/#/staking.

  2. Staking button in navigation.
  3. The Staking Overview page will open. Click on Account actions in the submenu.

    Explorer - Account Actions Nav.png
  4. On the Account actions page, you can see all your bonded wallets along with information on whether there are active or waiting nominations on them.

To see when the next era begins:

  1. In the navigation menu, go to Network and in the drop-down menu, click on Staking. Or navigate to https://wallet.xx.network/#/staking.

    Staking button in navigation.
  2. The length of each era and the time until the next era are viewable in the top right.

    Timer that tells the age of the era.

Claim Rewards

You may receive an xx coin payout at the end of every era in which you are an active nominator on an active validator. Your payouts do not go into your wallet automatically; they must be manually claimed by you or one of the other stakers on that payout’s node. When one of the stakers on a node claims the payout for an era, it is automatically claimed for all other stakers on the node. There is a deadline by which each payout must be claimed before it is lost.

To see any available payouts, go to the Payouts tab on the Staking page or navigate to the Payouts page. From here, you can see the aggregate payouts available per bonded stash, as well as a list of all the individual payouts available to claim. You may claim each of these one-by-one by clicking on the Payout button on the right, or you can claim all of your payouts with the Payout all button at the top right. If you have been actively nominating for at least a day and you do not see any payouts, it is likely another staker already claimed the payout for you and the coins are already in your stash wallet. All payouts are automatically rebonded into the stash account that earned them.

Payouts tab.png

Instructions

  1. In the navigation menu, go to Network and in the drop-down menu, click on Staking. Or navigate to https://wallet.xx.network/#/staking.

    Staking button in navigation.
  2. The Staking Overview page will open. Click on Payouts in the submenu.

    Explorer - Payouts Nav.png
  3. To select a single payout, click the Payout button next to the selected payout. To receive all payouts at once, click the Payout all button in the top right.

  4. The payout all stakers window will open.

    1. Select the account to request the payout from.

    2. Once you have confirmed everything, click the Payout button.

  5. On the next page, authorize your transaction by entering your password and clicking the Sign and Submit button Explorer Sign and Submit button.svg.

  6. You should see these notifications in the top right corner indicating the action was successful.