Delegation Guide for Persistance

Staking4All
6 min readMay 4, 2021

--

This is a simple step by step guide to help Persistance holders delegate to a validator. The community can now start delegating (staking 🥩)on community validators and select from their preferred community validators. Before the community were limited to genesis validators, not anymore and now delegators have the option to delegate to validators like Staking4All. This is an important step as it makes the Persistance network more decentralized and the network consensus is performed by a broader base of community validators. This guide was created by validator Staking4All, we are on several chains and are professional validators.

In order to delegate we must do the below steps

  • Create a wallet
  • Test the wallet and access
  • Then delegate once we happy with the access to the wallet

Below is the detail for the above steps.

Create a wallet

Persistance has a web wallet that you can use to create a wallet and stake with. The link to the web wallet is 👉🏻 link

You can either create or import an existing wallet. For this guide we going to assume we are creating a new wallet and will click “Create Wallet”

A dialogue box will pop up and we can then start navigating through the process. Starts with a friendly reminder to store your seed phrase securely. Click “Next”

You will then be presented with your seed phrase.

⚠️You must keep this phrase safe. You need this phrase to transact with your wallet ⚠️

You can also copy the phrase and paste into a document. Ensure it matches what you see on the screen. Click “Next” after you have safely stored your seed phrase.

You will be asked to fill in the blanks to ensure you have a copy of your seed phrase. Click “Submit” once you have completed.

You will then have a option to download a json file which is another way you can access your wallet. Click on “Generate Keystore File”

🚨 it is vital that you keep a copy of the keystore

You will be asked for a password for the file. Enter one and click “Submit”

A file will then be downloaded. Store this file and then click “Done”. You will see the file on the bottom left.

⚠️ You must store this file in a safe place, it is another option to interact with your wallet⚠️

After clicking “Done” from the previous step you will be back at this window. Click “Next”

You will then be given your address. Copy the address and save it also. Click “Login” and you will be inside your wallet

Test your wallet

We always advise that all users should transfer a small amount to the wallet, test it, logout and try login again. We see many users transferring large amounts and never tested that they could login again and did not store the json file or the seed phrase. In many cases these delegators or hodlers lose their coins 😱

We must note that the blockchain world offers us a way to have decentralized finance and move away from the control of central banks 🏦 and governments. But it also means that if we have any problem we have no call center to call for support or report we lost our account.

Below is an example where I have sent 2 XPRT to the wallet. I will then close the wallet and force a log off.

You will then be back at this home screen.

You can now sign in, but notice that you can sign in just with an address. In reality you can enter any address as it will display any wallet available on the blockchain. This does not mean you have access to the wallet but means you can view it.

The best way to test is to do a transaction. We will therefore after signing in see the below screen and will do a send transaction. You can send to another wallet or to an exchange deposit address. Again a small amount to test. Here we will send 1 XPRT

At this stage you will be asked for the keystore file. As you can see without the keystore file you will not be able to transact.

Enter this detail and click “Send”

You will then get a message that it was sent successfully.

Staking

Now that we are happy that the wallet works and we can access we can transfer more funds and start staking. Below you can see the balance has increased and now we will start staking.

On the staking tab we can now find Staking4All, click on “Actions”

We will be presented with this pop up, click “delegate”

Enter the amount of XPRT you would like to delegate. Click “Next”

Now provide the json file and click “Delegate”

Will then get success message and you have successfully delegated.

Conclusion

It is always good to nominate validators that help a project grow but also provide a good validator service and keep the network safe 🔐

But also poor performing validators can get slashed. So select wisely 🧐

Feel free to do your own checks on Staking4All, we are a professional validator service and are well known. Here is our details

🐤 Twitter

🌐 Website

✉️ Telegram @sheznez

--

--

Responses (1)