Edgeware / EDG Nomination Guide
Put your EDG to work today!
The Edgeware mainnet went live on February 17, 2020 at 1pm UTC.
To nominate your EDG to Staked, please use the following validator addresses:
hjwqedTG56Xfk8SF5E7N9UsoSjzKXBGHpscbWm6uEpPPGNR jxjp8pgFADzPbHFF71sSqEZ1jygviXhCK6tfyrnprtjLHDE iUU3ENzd9rg19MKK2T3rrgS77nVL1rEZNdv1pUeBHmz1Yz9 mB6GJCxuDB4WzRf6yBa83eUXn7SaMTg67i54cKrKZZ6f5KY
Nomination is non-custodial and validators cannot spend your EDG. Staked pays 90% of the block rewards to stakers, and offers the industry’s only 100% SLA on block production.
Edgeware features a validator bonding duration of 7 days, meaning funds will be transferable 7 days after unbonding.
Instructions for nominating EDG can be found below.
Slashing will happen if a validator misbehaves (e.g. goes offline, attacks the network, or runs modified software) in the network. They and their nominators will get slashed by losing a percentage of their bonded/staked EDG.
Edgeware is a fairly-launched, actively-governed smart contract platform. It integrates advanced features like proof-of-stake validation, WebAssembly smart contracts, and an interface for on-chain identity and governance.
Staking Token Economics: (2/24/20)
Staking allows EDG holders to participate in the security and availability of Edgeware by leveraging their tokens to validate. Validators who stake EDG, have an operational validator node, and behave honestly will get rewarded with EDG.
EDG entitles holders both staking and voting rights and the right to participate in governance and elections, proposal-making, as well as the ability to delegate this right to another account. EDG is also used to pay for state changes within the Wasm smart contract module.
- Navigate to https://polkadot.js.org/apps/#/settings. Select the network that you want to connect to from the “remote node” dropdown.
2. Navigate to https://polkadot.js.org/apps/#/accounts. Click “Add account” to import your account into the polkadot.js.org UI. Make sure to replace the mnemonic field with the mnemonic from your account. Click “Save” to create the account in the window that appears and then click “Create and backup account” to finish the creation.
3. Navigate to https://polkadot.js.org/apps/#/extrinsics. Bond the account you created to itself using chain extrinsics to allow it to nominate on the chain. Select the appropriate fields for each dropdown as shown in the picture below, making sure to select your account instead of Staked and making sure to replace the value with the amount that you want to stake.
4. Navigate to https://polkadot.js.org/apps/#/staking/actions. Click “Nominate” to open up the dialog for nomination.
5. In the dialog that appears, type “staked” into the “filter candidates” box to filter down the list of available validators to those that are maintained and run by Staked. For each one, toggle the option next to the name to include it as a possible nomination. Doing this ensures that your funds can be spread across multiple validators and receive an optimal return. Click “Nominate” to proceed to the next screen.
6. Once on the “staking.nominate” screen, click “Sign and Submit” to begin nominating the Staked nodes. You may be prompted for a password at this point.
Congratulations! You have now successfully nominated EDG to Staked.
Staked helps investors reliably and securely compound their crypto by 5% — 100% annually through staking and lending. Staked runs validation nodes for proof-of-stake currencies and offers access to on- and off-chain lending options that provide an annualized yield of in-kind currency. Staked’s investors include Pantera Capital, Digital Currency Group, ParaFi Capital, Coinbase Ventures, Winklevoss Capital, Fabric Ventures, Global Brain, and other leading crypto investors.