Rizon Delegation Guide — How to stake $ATOLO via Keplr connected to the OmniFlix platform
RIZON utilizes Tendermint engine and Cosmos Inter-Blockchain Communication Protocol to enable optimal business scalability and usability. Modules and services contributed in RIZON allow decentralized governance and issuance of stablecoins. With RIZON Blockchain, businesses can significantly reduce operational costs while facilitating instant exchange of assets and horizontal expansion across borders. Interconnected businesses on RIZON can scale without constraint while maintaining sovereignty and staying blockchain agnostic.
In this guide, we will explain how to easily delegate $ATOLO to the Rizon validator via Keplr connected to the OmniFlix platform.
How to stake $ATOLO via Keplr connected to the OmniFlix platform
Step1: Create an account on Keplr Wallet
a) Go to this link and click the [Add] button.
b) [Add “Keplr”] window will show off. Here you have to choose [Add Extension].
c) At the end of the download, you can start to interact with your browser extension by clicking on it.
d) A new tab will now open. Here you have the option “Create New Account” and click on it.
e) Time to claim your unique Mnemonic Seed and set your Keplr Wallet password!
- Make sure to copy and save your Mnemonic Seed at a save place.
- Set a password you’re not using in any other application.
f) Verify your Mnemonic seed by choosing them in the correct order.
g) Your Keplr Wallet is now ready!
Congratulations!
Step2: Connect Keplr to the Omniflix website
a) Head to Omniflix website: https://omniflix.rizon.world/， Click on [Connect].
b) Approve the Chain Add Request. Reload the page if the connection takes too long.
c) Once done, You have your RIZON wallet connected to Omniflix and enabled in Keplr. You will be able to see your wallet’s available tokens, staked tokens, rewards, etc. in the dashboard.
Step3: Deposit your $ATOLO to this wallet
If you don’t have ATOLO tokens, you can buy this currency from the exchange platform.
Copy your RIZON address by clicking Copy at the top right of the Omniflix Dashboard.
After completing the purchase on the exchange platform, withdraw $ATOLO to the current RIZON address
Step4: Stake your $ATOLO to a validator
a) Once your Keplr wallet is successfully connected, click on the “stake” section.
b) In the list of “All Validators”, scroll down to find the validator “terminet” that needs to be delegated and click on the “Delegate” button next to the selected validator.
c) Enter the amount you wish to delegate and click “Delegate”. Note that a small amount of ATOLO tokens is left in your wallet to cover the costs of future transactions.
d) Approve the transaction in your Keplr wallet.
After a successful transaction, you will see the following message.
Good job! Your tokens are now being staked (Staked Coins) and you have started getting rewards, which you see under the “Dashboard — Rewards” section.
In the “Staked Validators” section you can see the validators you have delegated. Each delegation has 3 actions: Re-Delegation,Undelegation, Delegate.
- Undelegate: If you do decide to withdraw your staked tokens, click UNDELEGATE. Enter the amount you would like to unstake and click UNDELEGATE again to confirm the transaction. It is important to take into account that the undelegate period takes 21 days. During this time period, rewards do not accumulate.
- Delegate: allows to staking ATOLO tokens to a selected validator.
- Redelegate: You can transfer all your staked tokens or part of them from the current validator to another validator without waiting for the end of the 21-day unbonding period. By doing so, you will not stop earning rewards.
Have fun at Rizon word !
FAQ
What is Rizon?
Rizon utilizes Tendermint engine and Cosmos IBC to enable optimal business scalability and usability. Modules and services contributed in RIZON allow decentralized governance and issuance of stablecoins. With RIZON Blockchain, businesses can significantly reduce operational costs while facilitating instant exchange of assets and horizontal expansion across borders.
What is a ATOLO Token
ATOLO is the native token of the Rizon network and is required to access the core features and functionality on the Rizon native chain. Can be used for holding, staking and other transactions
How to get ATOLO tokens?
Currently ATOLO is listed on Coingecko and Coinmarketcap where you can find all exchanges for trading these tokens.
What is staking ?
The RIZON Blockchain is a public Delegated Proof-Of-Stake (DPoS) blockchain, meaning that the weight of validators is determined by the amount of staking tokens (Atolo) bonded as collateral. These Atolo can be self-delegated directly by the validator or delegated to them by other Atolo holders. Any user in the system can declare their intention to become a validator by sending a create-validator transaction. From there, they become validator candidates.
What is a Validator?
RIZON Blockchain is based on Cosmos-SDK and Tendermint, which relies on a set of validators to secure the network. The role of validators is to run a full-node and participate in consensus by broadcasting votes which contain cryptographic signatures signed by their private key. Validators commit new blocks in the blockchain and receive revenue in exchange for their work. They must also participate in governance by voting on proposals. Validators are weighted according to their total stake.
What is a Delegator?
Delegators are Atolo holders who cannot, or do not want to run a validator themselves. Atolo holders can delegate Atolo to a validator and obtain a part of their revenue in exchange. Because they share revenue with their validators, delegators also share risks. Should a validator misbehave, each of their delegators will be partially slashed in proportion to their delegated stake. This is why delegators should perform due diligence on validators before delegating, as well as spreading their stake over multiple validators.
When will I start getting rewards?
Right after your delegation is completed you will get payouts for every block [~6sec]. All rewards become available after being claimed.
Terminet is never in control of the rewards.
Where can I explore the network?
If you want to track your transactions on the Rizon network, you can do it here.
What are the risks of delegating on Rizon?
Be sure to keep in mind that because your stake is used and safeguarded by a validator, you share in their rewards and share in their losses.
There are currently two faults that can result in slashing of funds for a validator and their delegators:
Double signing: If someone reports on chain A that a validator signed two blocks at the same height on chain A and chain B, and if chain A and chain B share a common ancestor, then this validator will get slashed by 5% on chain A.
Downtime: If a validator misses more than 95% of the last 10,000 blocks, they will get slashed by 0.01%.
We have our own capital on the line, so we are fully incentivized to do our best to prevent such events. However, delegators must be aware that this slashing risk will always exist.
How long does it take for an ATOLO undelegate?
The unbonding period lasts 21 days. ATOLO that is in the process of being unbonded can not be traded on an exchange or sent to other users.Your ATOLO tokens are still eligible for the block rewards and slashing risk during the unbonding period.
You can also immediately move all your Staked Tokens or some of them from the current validator to another validator without unstaking them. By doing so, you will not stop getting rewards.
If you have any questions during the staking process, please feel free to reach out to us using our social media channels as below
Medium | Twitter |Telegram | Discord
About Terminet
Terminet is a professional Staking and ecosystem service provider. The core team consists of experienced developers, product and operations experts and blockchain enthusiasts with more than 5 years of experience in the blockchain industry.
Terminet has years of technical expertise in distributed high performance computing, node infrastructure, network, hardware, API support and storage for the Web 3 ecosystem, and is dedicated to helping investors and ordinary Token holders profit from digital assets. Build a reliable, secure and easy-to-use web3 infrastructure service layer to lower web3 connecting barriers and web3 application development thresholds, powering web3 development.
