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How we make sure our staking delegation is safe
We worked hard to ensure that our community members holding CTSI would be exposed to a minimum amount of risk throughout three test phases, including the last beta phase on Mainnet. Step by step, we made progress in a controlled and safe manner. We had an internal audit done by our advisors and we also engaged two external companies to do a full audit: Certik (whose review can be found here) and ImmuneFi who will be launching a bug bounty program.
During the beta phase on Mainnet, we worked with three staking partners: Everstake, Blockscope and HashQuark, who created and managed pools, each limited to a maximum of 3.6M CTSI.
- From Cartesi’s Mining Reserve Intermediate Wallet, 3,000,000 CTSI were staked for testing purposes, ensuring block production and accurate testing. To ensure fair block production as new pools slowly come in, the mine reserve tokens will now be gradually unstaked over the next few weeks. The Cartesi Foundation will continue covering all of the fees, ensuring no effect on the mine reserve’s supply.
- 600,000 CTSI available to be accepted by each pool from the community. The pool managers chose the commission for their operation.
Welcome to a full entirely decentralized system on Mainnet
Now, any individual or organization can create and manage staking pools without any limit or cap imposed. In a safe and trusted environment that has been thoroughly tested and audited. For all new pools entering the system, the Cartesi Foundation will also help ensure fair block production by delegating its own tokens until the pools are competitive.
Want to start staking your CTSI in a pool?
Please follow the how-to steps below to get started.
First, you need to have Metamask installed. You can do this via the button on our explorer page. Go to https://explorer.cartesi.io, click on “Install MetaMask”, the blue button with the fox icon.
- 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”
- 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 (under the action column) 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.
There you have it, a quick rundown of how the staking delegation tool works. We’re working hard to make sure everyone in our community has a great time! Join our Technical Community on Discord if you have any questions, concerns, or simply want to provide some input.
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