🔸Stake, Delegate and Withdraw
Last updated
Last updated
The basic requirement to become a SatNode chain validator is to have a stake amount of at least 42,000 SatNode tokens. The stake amount is the sum of staked and delegated SatNode tokens of the address. This guide walks through the process of using MEW (MyEtherWallet.com) in the process of using SatNode network. These functionalities will be built into our SatStudio and will not require any technical knowledge in the future.
There are two options to stake (both should be called from the address which would be the validator)
Send SatNode tokens to the consensus contract - 0xa9C73c31851EbAEC671aa65EEE5368AEF5075F99 on the SatNode network.
Call the `stake` function on the consensus contract - 0xa9C73c31851EbAEC671aa65EEE5368AEF5075F99 on the SatNode network.
SatNode token holders who don't want to run a node by themselves but still wish to participate in governing the network can delegate any amount to one of the validators. Delegating is done by calling the `delegate` function on the consensus contract with the validator address as data (see screenshot from MEW).
Both stakers and validators can withdraw their SatNode tokens, up to the staked/delegated amount, at any time. The withdrawn amount will be deducted from the validator stake amount, and if the stake amount becomes below the minimum stake amount - the validator will be removed from the SatNode chain validators list. There are two options to withdraw:
1.Call the `withdraw` function on the consensus contract with one parameter - the amount to withdraw. This call is for stakers, and will reduce the stake amount of the sender address.
2.Call the `withdraw` function on the consensus contract with two parameters - validator address and amount to withdraw. This call is for both stakers (who can use their own address as the parameter) and for delegators to withdraw their delegated stake on a specific validator.
