Transfer cMix ID

From xx network wiki
Revision as of 00:08, 6 April 2022 by Jono (talk | contribs) (Protected "Transfer Cmix Id" ([Edit=Allow only administrators] (indefinite) [Move=Allow only administrators] (indefinite)))
Jump to navigation Jump to search
This is a team contributed page

This page contains instructions on how to transfer a validator's cmix ID between two wallets.

This is a two day/era process, so if you decide to do it, plan accordingly.

First day/era steps

1. Stopping Validation

Your node needs to stop validating for one day in order to do the cmix id transfer. You will not receive compensation for the day while this is happening.

Mandatory deadline: do this before 19:00 UTC (election cutoff)

Recommended deadline: if you are part of the Mainnet Transition Program, do this before 18:30 UTC (multiplier script run)

Steps:

  1. Go to the Explorer and navigate to Staking/Account Actions (https://explorer.xx.network/#/staking/actions)
  2. Stop validating from your current validator wallet (old wallet)
Screen Shot 2022-04-05 at 7.05.04 PM.png

2. Commiting your wallets

This step is only necessary if you are part of the Mainnet Transition Program.


Use the applet at https://xx.network/mainnet-commit-wallet/ to commit to your wallets.

Make sure you use the correct wallets for Nominating and Validating.

Your Nomination wallet should be your old wallet, the one you have been validating with, and should have more coins.

Your Validation wallet should to be your new wallet.

Second day/era steps

Mandatory deadline: all steps should be completed before 19:00 UTC (election cutoff).

Recommended deadline: if you are part of the Mainnet Transition Program, complete the steps before 18:30 UTC in order to get the Team Multiplier.

If you miss the mandatory deadline, your node will be out of the active validator set for more than 1 era, resulting in losing earnings for the next era (until you complete the cmix id transfer).

1. Rotate session keys

Follow the steps from https://xxnetwork.wiki/Staking_a_Node#Set_Session_Keys in order to rotate the session keys on your validator.


All the following steps will be done in the Explorer, so go to the Staking/Account Actions tab (https://explorer.xx.network/#/staking/actions).

2. Bond the new wallet

If you have not done this yet, you can now bond your new wallet, where you will be validating from.

Click the Stash button in the top right and do the following:

Screen Shot 2022-04-05 at 6.57.53 PM.png
  1. Set the stash and controller to be the same (new wallet)
  2. Stake at least 1000 coins, but remember to always leave some coins to pay for transaction fees!

3. Set session keys

Using the new wallet, click the "Session Key" button, and do the following:

Screen Shot 2022-03-17 at 10.14.29 PM.png
  1. Use the session keys result from Step 1
  2. Sign and submit the transaction

4. Transfer cmix id

Using the old wallet, click the three dots menu and then the "Transfer Cmix ID" button, and do the following:

Screen Shot 2022-03-17 at 11.41.57 PM.png
  1. Select new wallet as the destination
  2. Sign and submit the transaction

5. Validate

Using the new wallet, click the "Validate" button, and do the following:

Screen Shot 2022-04-05 at 7.03.39 PM.png
  1. Choose your commission
  2. Sign and submit the transaction

6. Nominate your validator

Using the old wallet, click the "Nominate" button, and do the following:

Screen Shot 2022-04-05 at 7.04.01 PM.png
  1. Select your validator (new wallet) and up to 15 others
  2. Sign and submit the transaction